Question

Illinois Return

Forum|Forum|5 years ago
March 18, 2021
1 reply
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I received interest for US T-Bills, which I believe should be exempt from Illinois state taxes (Schedule M for Illinois). I could not find a means to reflect this exemption amount in Turbo Tax. I could only locate deductions for Illinois related exemptions - US T-Bills were not on the list. Anyone know how to resolve this?

AmyC

Employee

Yes, the T-bills are exempt on sch M of the IL return. When you entered the interest in the federal section, it should flow to IL. The state program should pop up telling you that it found US Treasury Subtraction.

You can preview your file to verify the income is being subtracted. If not, return to the federal entry screen and make sure you entered in the correct box. Treasury is box 12 on 1099-INT.

See How do I preview my TurboTax Online return before filing?

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