Knowledge system is not enabled for this account. Redirecting to LiveHelpNow... Illinois Other Subtractions - Print

Illinois Other Subtractions

Article ID: 34535  

Question
What Categories Fall Under Illinois Other Subtractions?

Answer

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. Enterprise and 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. Employer's contributions made on your behalf to an account established under the Medical Care Savings Account Act and the interest earned

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

  17. Illinois Pre-Need Cemetery Sales Act trust income

  18. Education loan repayments for primary care physicians

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

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

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

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

  23. Railroad unemployment compensation

  24. Unjust imprisonment compensation awarded by Illinois Court of Claims

  25. 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 www.illinois.gov.


Article Details
Views: 846 Created on: Jun 15, 2013