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Deductions & credits
No. But in some cases it's a good thing to do @ha-diane79.
Illinois says you don't have to file a return unless you earned enough taxable income from Illinois sources to have a tax liability.
Who must file an Illinois tax return?
With the sale of a home, real estate agents sometimes send Form 1099-S to the IRS and states. The form only shows how much the home was sold for, not whether you made any money. IL might think you made a profit.
Filing a form will tell them ahead of time the home was sold for a loss.
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March 9, 2022
1:02 PM