In August of 2021, I moved from Illinois to Florida. I have not been employed since my move, and all my income for the year was made while I lived in Illinois. However, given that I last received a paycheck in August of 2021, my yearly income has obviously dropped considerably from what it was last year.
When I began the Illinois return on Turbotax, I was asked how much of my income did I earn while living and working in IL. I put down the full amount, and was shocked to see the amount due skyrocket to over ten times what I paid last year. Can someone please help me understand how I earned less money but now owe way more in state income tax than I ever have before? Any help would be greatly appreciated!!
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i'll oversimplify. multiply line 11 on the IL 1040 by 5% that's your gross tax.
subtract your Illinois withholding. that should be the net you owe or if w/h is greater your refund
other items affecting the balance - use tax on line 21 is an increase
property tax credit on line 16 is a decrease.
there are other lines that increase or decrease your tax but these are the most common.
"Ten times" almost sounds like a data entry error. Make sure you didn't type a comma for a decimal (or vide-versa) somewhere.
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