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csherman6
New Member

If I had a Royalty interest in an oil lease that was in Illinois and I live in Indiana and I received $329 from that interest am I supposed to file an Illinois tax return

 
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IreneS
Intuit Alumni

If I had a Royalty interest in an oil lease that was in Illinois and I live in Indiana and I received $329 from that interest am I supposed to file an Illinois tax return

No.  As a nonresident, you must file Form IL-1040 and Schedule NR if:

you earned enough taxable income from Illinois sources to have a tax liability (i.e., your Illinois base income from Schedule NR, Step 5, Line 46, is greater than your Illinois exemption allowance on Schedule NR, Step 5, Line 50),

The $329 you received is well below the filing requirement.


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1 Reply
IreneS
Intuit Alumni

If I had a Royalty interest in an oil lease that was in Illinois and I live in Indiana and I received $329 from that interest am I supposed to file an Illinois tax return

No.  As a nonresident, you must file Form IL-1040 and Schedule NR if:

you earned enough taxable income from Illinois sources to have a tax liability (i.e., your Illinois base income from Schedule NR, Step 5, Line 46, is greater than your Illinois exemption allowance on Schedule NR, Step 5, Line 50),

The $329 you received is well below the filing requirement.


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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