brise1995
New Member

Education

Hello,

 

When I enter my $20k in contributions (married filing jointly) this year, it only results in a $15 impact to my IL refund. This is despite having >$20k in IL taxable income. Shouldn't this have a 4.95% * $20k = $990 positive impact in tax savings? Not understanding why it's limiting the $990 to just $15.

 

Thanks.