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Investors & landlords
Yes thank you, you are correct I am from Illinois but live in Japan. Therefore I am a non-resident of Illinois. When I did my federal on Turbo tax, I put in my rental information and came up with the 17,000 rental income (minus expenses and taxes) which I will have to pay around 2000 in Fed taxes. .
When doing State taxes on Turbo tax, It asks me how much of the rental income should I apply to Illinois state. If I put 0 it remains as 0 taxes owed to Illinois. If I put in 17,000 in the state box it registers that I have to pay an additional 500 dollars to Illinois. Therefore a total of 2000 to Fed and 500 to state.
I wonder If I am inputting correctly. (It also says since if I am Non Illinois resident I can not deduct property taxes, Not sure if this is a new law this year)
Thank you so much for any insights and guidance