topic Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $15,000 property tax shouldn't I get a credit? in Deductions & credits

Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $15,000 property tax shouldn't I get a credit?

jsylwestrak — Wed, 10 Mar 2021 00:17:20 GMT

Why am I not getting a tax credit on my Illinois state income tax return for my home's property taxes?

Re: Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $15,000...

MaryK4 — Wed, 10 Mar 2021 01:06:55 GMT

Without more details, it is impossible to know why you did not qualify for the Property Tax credit. If you go through the questions in the state section, often you will find an incorrect entry.

The Illinois Property Tax Credit is not allowed if a taxpayer's federal Adjusted Gross Income (AGI) exceeds $500,000 for returns with a federal filing status of married filing jointly, or $250,000 for all other returns.

You will qualify for the property tax credit if:

your principal residence during the year preceding the tax year at issue was in Illinois, and
you owned the residence, and
you paid property tax on your principal residence.

Re: Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $15,000 property tax shouldn't I get a credit?

Dplaw93 — Mon, 21 Feb 2022 03:52:12 GMT

Jsylwestrak,

same problem here. I spoke with a customer service rep this evening. She told me to shut everything down, and when I turned the computer back on and rebooted TurboTax it would be fine!

WRONG! Still not filling in step 6 on the Illinois 1040.

I resorted to going to the Illinois website and filling in the PDF of the 1040 and the required worksheet. I used the figures from the TurboTax Illinois form. Not very satisfactory, but at least I’ll save a few hundred dollars

How many Illinois residents don’t even realize there’s a problem and don’t get the credit?

I’m really disillusioned with TurboTax and am considering not purchasing their software next year. We’re into late February and this hasn’t been fixed.

Re: Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $15,000 property tax shouldn't I get a credit?

stevekarstrand — Fri, 01 Apr 2022 21:34:55 GMT

I agree....this is B.S. problem was brought to their attention a year ago and still hasn't been fixed! weak

Re: Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $15,000...

DaveF1006 — Fri, 01 Apr 2022 22:21:06 GMT

If you started preparing your Illinois State returns, there will be a screen that will appear exactly like the screenshot appearing at the end of this post. This asks the qualifying questions that will determine if you are eligible for the credit or not.

Also if you haven't received this after completing the screen i mentioned, it may be your Adjusted Gross income amount if over $500,000 for returns with a federal filing status of married filing jointly, or $250,000 for all other returns. here is the screenshot of a screen that did/or should have appeared as you prepared your Illinois State Return.

@stevekarstrand @Dplaw93 @jsylwestrak

Re: Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $15,000...

Dplaw93 — Thu, 02 Jun 2022 12:07:09 GMT

None of the exceptions you reiterated, twice, applied to us. Our AGI was considerably under $500,000 for married filing jointly, I filed out the state questions on the first pass through the TurboTax questionnaire. Eventually, after a few days the state return was fixed, but I am extremely unhappy with TurboTax's initial non-response.

Several years ago TurboTax did not include Schedule K, or one of the sections leading up to it, I don't remember which. One call, about five (5) minutes and it was fixed. I don't understand your slow response and immediate inaction for several days and multiple calls from me, and I expect numbers other Illinois residents. Your mistake near cost me almost $800 on my Illinois taxes.

Shame on! And you expected me to say "Thank you" for your inadequate response. 2022 taxes will in all likelihood NOT be filed on TurboTax.

Re: Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $15,000 property tax shouldn't I get a credit?

Mike9241 — Thu, 02 Jun 2022 17:09:27 GMT

I'm an Illinois resident and I got the real estate tax credit. calculated on Schedule ICR and carried to line 16 on the Illinois return

besides the 4 questions on the form that must be answered yes, you need to supply the PIN and county.

perhaps you should review the ICR schedule.

Re: Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $15,000...

lzabaidi1 — Thu, 08 Sep 2022 02:20:26 GMT

The 4 questions did NOT appear, my AGI is considerably under the threshold, and I itemized. Does this mean I need to amend IL for 2021?

Re: Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $6920.54 property tax shouldn't I get a credit?

Billmina — Fri, 03 Feb 2023 02:08:04 GMT

I payee $6,920 on my resident home for 2021 tax. I did not get my home tax credit this year. I have 0 tax to Illinois. why did I not get my home tax credit? Thanks,

Re: Why am I not getting a tax credit for my home on my Illinois state tax return? I paid $6920.5...

DaveF1006 — Fri, 03 Feb 2023 02:26:22 GMT

The Illinois property tax is non-refundable meaning there if there is no tax liability before the credit, then the credit cannot be applied. Since you mention you have 0 tax for Illinois, this tells me that the credit cannot be claimed because there is no tax due prior to the credit being claimed.

Please read this Turbo Tax article posted about this subject.