gfpstaxes
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12-07-2019
04:42 AM
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A Taxpayer lives and works in Texas, but owns a house she rents out in Illinois. Does she need to file an Illinois state return for that income?
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itonewbie
Level 15
12-07-2019
04:42 AM
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Nonresidents are only required to file an Illinois NR return if there is enough income to generate a tax liability. This means that if your client has a net loss on the rental, IL return will not be required.
If there is a small amount of net income, you will need to run a calculation to determine if there is any IL taxable income after the small exemption allowance prorated for full-year as-if IL base income.
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Still an AllStar
Still an AllStar
Level 15
12-07-2019
04:42 AM
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Non resident IL return will be filed to account for the income/expense at the IL rental property, yes.
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