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Old 03-03-2008, 12:01 AM
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Question Am I required to report tax-exempt dividends on my state income tax return?

I was concerned whether or not to report my federally tax-exempt dividends on my Illinois State Income Tax Return?

Eagerly awaiting your answer..! Tks..


Last edited by InTheWindyCity : 03-04-2008 at 10:40 AM.


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Old 03-14-2008, 09:57 AM
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Am I required to report tax-exempt dividends on Illinois 1040 Individual Tax Return?

What is Illinois Income?
According to Illinois Individual Tax Law, "your Illinois income includes the adjusted gross income amount figured on your federal return, plus any federally tax-exempt income".

Therefore, despite, this amount being non-taxable on the Federal tax return, on the Illinois 1040 Individual Income tax return, it is added back into income as an addition to the Federally Adjusted Income.

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