Solved: IL Property Tax Credit

IL property tax credit for retired couple. TT shows max. It does not show minimum. If taxable income is low, or zero. you cannot get this credit?

posted

It is a nonrefundable credit- if your property tax credit exceeds the income tax you owe, you may not receive a refund for that amount, and you may not carry unused credit to other years. Your property tax credit may only reduce the income tax you owe to zero.

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