The only valuation limitation on sch M is line 23 and most common when a farm is involved. The excludable amount for your IL return goes on line 23. You could also have:
- federal Form 1040 or 1040-SR, Schedule D;
- federal Form 4797;
- federal Form 6252;
- federal Form 8949;
- Illinois Schedule K-1-P, Partner’s or Shareholder’s Share of Income,
- Deductions, Credits, and Recapture; and Illinois Schedule K-1-T,
- Beneficiary’s Share of Income and Deductions.
- For installment sales, see instructions on the back of
- Schedule F.
Officially, IL sch M instructions state: Enter the amount of your August 1, 1969, valuation limitation from Schedule F, Gains from Sales or Exchanges of Property Acquired Before August 1, 1969, Line 17.
If you feel this is an error, you may want to delete your state. Then try:
- Don't use Internet Explorer.
- Clear cache and cookies,
- Sign in using a different browser.
- Sign in using a different device
- Log back into your return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
