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goldwingbill
February 18, 2025
Question

Are funds received from an inherited IRA able to be used for the Retirement Income Deduction for the State of Illinois?

  • February 18, 2025
  • 1 reply
  • 0 views
Several years ago, I received my Dad's IRA as inheritance. I am now 61. I received a distribution from this IRA in 2024. Turbo Tax is telling me that these funds qualify for this deduction in the State of Illinois.

    1 reply

    AmyC
    AmyC
    Employee
    February 25, 2025

    Yes, IL does not tax IRA distributions. 

    Reference: Does Illinois tax my pension, social security, or retirement 

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