Other Subtractions to Income

1. .Expenses Related To Federal Credits Or Federally Tax-Exempt Investments You may deduct expenses relating to those items that were disallowed as federal deductions because the income was exempt from federal tax.
2. Interest On Obligations Of Illinois State And Local Governments Included On Line 2. This amount is the net amount of any related bond premium amortization. Be specific in identifying your obligations. Income from state and local governments is not exempt from Illinois Income Tax except where legislation has been specifically adopted to provide for an exemption.

   See our knowledge base for a list of securities that are exempt.

3. contributions made to the "Bright Start" College Savings Pool. If contributions were made by rolling over funds from another college savings program, you must exclude any income that was earned in the other savings program. "Bright Start" is the only IRC Section 529 college savings plan you may deduct contributions made during the tax year
4. Illinois depreciation subtraction allowance calculated on Form IL-4562
5. recovery of items (including refunds of any state and local income taxes, other than Illinois) that you previously deducted on your Itemized Deductions, in a prior year
6. amount of child's income reported on Form 8814. Identify as U.S.8814
7. distributive share of subtractions from a partnership, an S Corporation, a trust, or an estate
8. amount of your August 1, 1969, valuation limitation from Schedule f, Gains and Sales or Exchanges of Property Acquired Before August 1, 1969, line 17
9. enterprise zone dividends and high impact business dividends that you received from a corporation that:
   • conducts substantially all of its business operations in an enterprise zone designated by the state of Illinois, or
   • is designated by the Illinois Department of Commerce and Economic Opportunity as a High-Impact Business and conducts business operations in a federally designated foreign trade zone (or sub-zone) located in Illinois.
10. ridesharing money and other benefits (other than salary) received by a driver in a ridesharing arrangement using a motor vehicle if these amounts are included in Line 1.
11. amount equal to the deduction used to compute the federal tax credit for restoration of amounts held under claim of right
12. contributions you made under the Tax Increment Allocation Redevelopment Act to a job training project
13. payment of life, endowment, or annuity benefits received before they would ordinarily been paid as an indeminity for terminal illness
14. employer's contributions to a MSA on your behalf and the interest earned on this account
15. income from a Lloyds plan of operations, if was reported on a IL-1023-C
16. Nazi reparations

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