You may be permitted to subtract your Abbott Laboratories dividends, as reported on Form 1099-DIV, from your base income for Illinois income tax purposes. The following is a brief description of how Illinois taxpayers who file a Form IL-1040 should report their Abbott dividends.
Introduction. Use Schedule F (Form 1040) to report farm income and expenses. File it with Form 1040, 1040-SR, 1040-SS, 1040-NR, 1041, or 1065. Your farming activity may subject you to state and local taxes and other requirements such as business licenses and fees.
Dividend income you received, other than business dividend income, is not taxed by Illinois. entirely in Illinois, enter the amount from Column A. both inside and outside Illinois, complete the IAF Worksheet to figure the Illinois portion of that income, and include the amount from Line 3 of the worksheet.