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Illinois Other Subtractions

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What Categories Fall Under Illinois Other Subtractions?


Other Subtractions to Income Include:

  1. Contributions you made to "Bright Start" and "Bright Directions" College Savings Pools and "College Illinois" Prepaid Tuition Program

  2. Distributive share of subtractions from a partnership, S corporation, trust, or estate

  3. Restoration of amounts held under claim of right

  4. Contributions to a job training project

  5. Expenses related to federal credits or federally tax-exempt income

  6. Home Ownership Made Easy Program interest

  7. Special Depreciation subtraction

  8. Military pay earned

  9. U.S. Treasury bonds, bills, notes, savings bonds, and U.S. agency interest

  10. August 1, 1969, valuation limitation

  11. River edge redevelopment zone and high impact business dividend subtraction

  12. Recovery of items previously deducted on U.S. 1040, Schedule A

  13. Ridesharing money and other benefits

  14. Payment of life insurance, endowment, or annuity benefits received

  15. Lloyds plan of operations income if reported on your behalf on Form IL-1023-C

  16. Illinois Pre-Need Cemetery Sales Act trust income

  17. Education loan repayments for primary care physicians

  18. Reparations or other amounts received as a victim of persecution by Nazi Germany

  19. Interest on tax-exempt obligations of state and local government

  20. Interest on tax-exempt obligations of non-U.S. governments

  21. Your child's interest reported on U.S. Form 8814

  22. Railroad sick pay and unemployment compensation

  23. Unjust imprisonment compensation awarded by Illinois Court of Claims

  24. Distributions from "Bright Start," "College Illinois," and "Bright Directions" college savings plans if included in Line 1 because you claimed a federal American Opportunity or Lifetime Learning Credit


Please see the Illinois Schedule M for more information

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Views: 1277 Created on: Jun 15, 2013
Date updated: Jan 20, 2020
Posted in: States, Illinois

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