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Illinois property tax credit

tcerny51
Level 3

Client paid IL property tax.  Schedule ICR, lines 3 shows amount of tax from IL 1040, line 14 and 4a shows property tax of $13,394 paid, 4f shows property tax paid, 4g shows 5% of property tax = 670. Line 5 compares lines 3 and 4g and should enter lower of the two. It's entering 0.  Is there an income limit to getting credit for property tax paid in IL?

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garman22
Level 13
Level 13

@tcerny51 wrote:

Client paid IL property tax.  Schedule ICR, lines 3 shows amount of tax from IL 1040, line 14 and 4a shows property tax of $13,394 paid, 4f shows property tax paid, 4g shows 5% of property tax = 670. Line 5 compares lines 3 and 4g and should enter lower of the two. It's entering 0.  Is there an income limit to getting credit for property tax paid in IL?


$500k MFJ and $250k Single. 

 

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4 Comments 4
IRonMaN
Level 15

I don’t do IL so I don’t know, but have you checked the instructions?


Slava Ukraini!
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garman22
Level 13
Level 13

@tcerny51 wrote:

Client paid IL property tax.  Schedule ICR, lines 3 shows amount of tax from IL 1040, line 14 and 4a shows property tax of $13,394 paid, 4f shows property tax paid, 4g shows 5% of property tax = 670. Line 5 compares lines 3 and 4g and should enter lower of the two. It's entering 0.  Is there an income limit to getting credit for property tax paid in IL?


$500k MFJ and $250k Single. 

 

tcerny51
Level 3

Ironman, if you don't know the answer, why do you bother responding?  Trying to increase your numbers of responses?  That's not fair.

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tcerny51
Level 3

Thanks Garman22.