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February 11, 2025
Question

2024 Illinois state property tax credit

  • February 11, 2025
  • 1 reply
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Hi, I'm trying to answer a question to see if I qualify for a state property tax credit in Illinois for 2024 and it asks did you own your 2023 principal residence, I rented until December 19 of 2023. The home I'm trying to answer the question for closed on December 20 2023, so did I own my 2023 principal residence or not?

    1 reply

    February 11, 2025

    Yes, you can get the credit for only the portion of your taxes that applies to the time you owned and lived in your house during 2023. You aren't eligible to take the credit for taxes you paid if the seller reimbursed you at the time of closing. 

     

    In TurboTax the Illinois Property tax credit can be found under Credits and taxes under the Illinois State tax return. 

     

    What is the Illinois Property Tax Credit?