Do I Qualify for the Illinois Tax Credit for Affordable Housing Donations?

Article ID: 58830  

Question
Do I Qualify for the Illinois Tax Credit for Affordable Housing Donations?

Answer

You may take this credit if

you have made a donation under Section 7.28 of the Illinois Housing Development Act for the development of affordable housing in Illinois, and

you made the donation in a tax year ending on or after December 31, 2001.

You may also take this credit if it was transferred to you by the donor.

Line 20 – Enter the total amount of your donation to eligible sponsors on the line provided. Multiply this amount by 50 percent (.50), and enter the result on Line 20.


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Views: 1014 Created on: Jun 15, 2013