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Credit for Illinois property taxes for 2022 paid in 2023 was not included on my Illinois 1040 tax return. Please advise me

 
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Cynthiad66
Expert Alumni

Credit for Illinois property taxes for 2022 paid in 2023 was not included on my Illinois 1040 tax return. Please advise me

In any event, you can amend your Illinois return to correct the deduction or credit.  You will need to amend 2022 or 2023 depending on the circumstances below.

 

If you need to deduct property taxes paid in 2023 for 2022 property taxes, you can amend the 2023 Illinois return to show the correct amount paid.

 

On the other hand, if you are talking about the Illinois Property Tax Credit, that deduction is allowable only in the year paid.  That means, to compute 2022 Property Tax Credit, you cannot use the amount paid in 2023 for 2022.

 

Also, for tax years beginning on or after January 1, 2017, 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.

 

The Illinois Property Tax Credit is a credit on your individual income tax return equal to 5 percent of Illinois Property Tax (real estate tax) you paid on your principal residence.

 

For additional information click this link:  Illinois Department of Revenue Property Tax Credit

Here is a link for Amending your return:  Amending Your Returns

 

You Can Amend Using TurboTax for either year.  You cannot Amend 2023 return yet because it is not fully processed through the system, plus the IRS is not accepting 2023 amendments yet.

 

Here is how to amend the state return:

If you only need to make specific changes to your state return, select your product below and follow the instructions.

 

TurboTax Online

TurboTax Desktop

Processing times for amended state returns vary from state to state. If it's been more than 12 weeks since you filed your amended state return and you haven't heard anything, we suggest you contact your state tax agency.

 

How To Amend My State Return

 

 

 

 

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