Renters credit in Illinois
Varies
Can Renters Get a Tax Break in Illinois?
Short answer: No: Illinois doesn't offer a renter's credit or rent rebate. Illinois has no state tax credit, deduction, or rebate specifically for renters. The Illinois Property Tax Credit (5% of property tax paid on a principal residence) requires that you own the home, so renters cannot claim it. Lower-income renters can still claim Illinois's earned income credit: 20% of the federal EITC.
Rent on your own home isn't deductible on your federal return; the exceptions are a home office used for your business or renting out part of the place you rent.
Records to keep: Keep your lease, rent receipts or a landlord rent certificate, and proof of household income. Check your state's current-year form and deadline before you apply.
Renters credit in Illinois
Varies
Individuals / Personal Taxes
No: Illinois doesn't offer a renter's credit or rent rebate. Illinois has no state tax credit, deduction, or rebate specifically for renters. The Illinois Property Tax Credit (5% of property tax paid on a principal residence) requires that you own the home, so renters cannot claim it. Lower-income renters can still claim Illinois's earned income credit: 20% of the federal EITC.
Business justification
No: Illinois doesn't offer a renter's credit or rent rebate. Illinois has no state tax credit, deduction, or rebate specifically for renters. The Illinois Property Tax Credit (5% of property tax paid on a principal residence) requires that you own the home, so renters cannot claim it. Lower-income renters can still claim Illinois's earned income credit: 20% of the federal EITC. Rent on your own home isn't deductible on your federal return; the exceptions are a home office used for your business or renting out part of the place you rent.
Category
- Personal Tax Deductions