Illinois Schedule SA – Specific Accounting Schedule for Fiscal-Year Filers (2026)
Last reviewed: 2025-11-07
Use the Illinois Tax Form Calculator Schedule SA: Specific Accounting Schedule (Fiscal-Year Filers) as a stand alone tax form calculator to quickly calculate specific amounts for your 2026 Illinois state tax return. Alternatively, you can use one of our Combined Federal and State Tax Estimators to quickly calculate your salary, tax, and take-home pay.
Schedule SA (Specific Accounting Schedule) is used by fiscal-year filers whose accounting period does not match the standard calendar year. Illinois requires prorated reporting of income, deductions, and credits that fall within the portion of the fiscal year overlapping the state’s tax year. This ensures only Illinois-source income earned during the appropriate period is taxed on Form IL-1040.
When to File Schedule SA
File this schedule if your fiscal year begins before and ends after December 31, or if you are required to report Illinois income for part of a nonstandard tax year. Common examples include estates, trusts, and individuals changing accounting periods.
How to Complete Schedule SA
- Enter your total income for the full fiscal year (Line 1).
- Enter income earned during the Illinois-reportable months (Line 2).
- Divide Line 2 by Line 1 to calculate the percentage of income taxable by Illinois (Line 3).
- Multiply your total adjusted gross income by this percentage (Line 4).
- Apply the Illinois rate of 4.95%. The result is your Illinois income tax for the fiscal portion (Line 5).
Attach this schedule to your Illinois return and keep detailed records of how the allocation was determined. Documentation may include accounting ledgers, contract dates, or payroll records.
| 1 | Total income for full fiscal year | |
| 2 | Income earned during Illinois-reportable months | |
| 3 | Percentage taxable by Illinois (Line 2 ÷ Line 1) | |
| 4 | Illinois taxable income (Line 1 × Line 3) | |
| 5 | Illinois tax (4.95%) × Line 4 |
Example
Example: A taxpayer operates on a fiscal year from July 1, 2024, through June 30, 2026. Total income for the fiscal year is $120,000. Of that, $60,000 was earned in 2025 (the Illinois tax year portion). Divide $60,000 by $120,000 = 0.5 (50%). Multiply $120,000 × 50% = $60,000 taxable to Illinois. Illinois tax = $60,000 × 4.95% = $2,970.
Specific Accounting Guidance
- Include only income and deductions directly tied to the Illinois-reportable months.
- Do not adjust withholding or credits unless they correspond to the same period.
- If changing from fiscal to calendar year reporting, clearly note the transition year on your IL-1040.
- Business filers using Schedule SA may also need to include corporate or partnership schedules consistent with Illinois apportionment rules.
Why Schedule SA Is Important
Specific accounting prevents duplication or omission of income across overlapping tax years. It ensures Illinois receives tax only on income earned during its active taxable period and protects taxpayers from overpayment when reporting under different accounting cycles.
Last reviewed: 2025-11-07: If you believe this form requires an update, please contact us.
Related Forms and Resources
- Form IL-1040 – Individual Income Tax Return
- Schedule NR – Nonresident and Part-Year Resident
- Schedule NR-AP – Apportionment Detail for Nonresidents
- Illinois DOR – Schedule SA Information
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Frequently Asked Questions
Will IL tax my Roth conversions?
Conversions are taxable federally and typically flow to IL; IL retirement exclusion usually applies to distributions, not conversions—check IL guidance.
How do I amend my Illinois return?
File Form IL-1040-X after your original IL-1040 is processed; include revised schedules (e.g., Schedule ICR/CR/M) and explanations.
Why does Illinois distinguish pre-1969 and post-1969 gains?
Because Illinois enacted its income tax on August 1, 1969, any appreciation before that date occurred before the state had authority to tax income. Form IL-F preserves fairness by taxing only the gain realized since Illinois income tax law took effect. This approach avoids retroactive taxation while ensuring current gains are taxed appropriately.
When should Schedule FD be filed?
File Schedule FD with your annual IL-1040 return for the tax year in which the deferred income became federally taxable.
Why is Schedule M important for accurate Illinois taxes?
Illinois uses Schedule M to ensure fairness in applying its flat 4.95% tax rate. Because Illinois starts from federal AGI, this form ensures only Illinois-approved income is taxed and proper deductions are applied. It’s especially vital for retirees, military personnel, and taxpayers with multistate investments.
Important Notes
All calculations are estimates for guidance only. Always review your return and consider professional advice when submitting official filings.