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In my Illinois tax return compiled by TurboTax is a 2018 Schedule ICR for calculating my property tax credit. Why is it 0 rather then 290?

In my Illinois tax return compiled by TurboTax is a 2018 Schedule ICR for calculating my property tax credit.

Line 3 reads: 27,187
Line 4g reads: 290
The instruction for line 5 reads: Compare Lines 3 and 4g, and enter the lesser amount here.
Line 5 reads: 0

Line 5 should be my property tax credit. Why is it 0 rather then 290?
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Anonymous
Not applicable

In my Illinois tax return compiled by TurboTax is a 2018 Schedule ICR for calculating my property tax credit. Why is it 0 rather then 290?

is your income over $500,000?   (line 3 amount would seem to indicate that's the case).  if so,  the revised tax laws in illinois eliminated the credit and exemptions for those taxpayers for 2018

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2 Replies
Anonymous
Not applicable

In my Illinois tax return compiled by TurboTax is a 2018 Schedule ICR for calculating my property tax credit. Why is it 0 rather then 290?

is your income over $500,000?   (line 3 amount would seem to indicate that's the case).  if so,  the revised tax laws in illinois eliminated the credit and exemptions for those taxpayers for 2018

In my Illinois tax return compiled by TurboTax is a 2018 Schedule ICR for calculating my property tax credit. Why is it 0 rather then 290?

That explains it. Thank you for your expertise and quick answer.
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