What is the purpose of Schedule K-1-P?

Similar to the federal Schedule K-1, the purpose of Schedule K-1-P, Partner's or Shareholder's Share of Income, Deductions, Credits, and Recapture, is for partnerships and S corporations to supply each individual or entity who was a partner or shareholder at any time during the tax year with that individual's or entity's share of the amounts reported on the partnership's or S corporation's federal income tax return and Illinois business income tax return.

If you have additional inquiries, you may submit them to the Questions, Comments, or Request form.