in [Event] Ask the Experts: Investments: Stocks, Crypto, & More
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When I enter a 1099R on Federal and then look at Illinois the 1099R amount properly shows as a deduction, HOWEVER, all of the State personal Exemptions and Property Tax Credits on Schedule IRC disappear or are eliminated.
I don't believe there is an income phase-out for either Illinois Personal Exemptions or Property Tax Credit granted.
Anyone else with issue or advice.
Will call Turbo Tax and State of Illinois tomorrow.
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Are you filing as a Non-Resident of Illinois? If so, you cannot take the Property Tax Credit unless your principal residence in 2022 was in Illinois. Here's more info from IL Dept. of Revenue.
If you are filing as an IL Resident, there is an income limit of 500K for MFJ, and 250K for others. If this does not apply to you, click this link for more info on IL Property Tax Credit that may help you.
Thanks
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