Illinois DOR Issues Guidance on Subtraction for Other Income for Income Tax Purposes

The Illinois Department of Revenue (IDOR) July 1 issued guidance detailing the types of income that cannot be subtracted from an individual’s income tax return, including: 1) unemployment compensation; 2) gambling losses; 3) federal itemized deductions; 4) wages reported on a federal return; 5) income from Social Security benefits and retirement plans; and 6) out-of-state income. The guidance also includes information on the state’s tax regulations and offers answers to commonly asked questions. [Ill. Dep’t of Revenue, What other income is not allowed as a subtraction on my individual income tax return?, 07/01/24]

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