You may not figure a credit for Illinois Property Tax on taxes paid for property that is not your principal residence (e.g., vacation homes, rental property, non-adjacent lots), or penalties or fees included in your property tax bill.

Illinois Property You Purchased
You may figure a credit for Illinois property you purchased during 2004 providing you figure only that portion of your taxes that pertains to the time you owned and lived at the property during 2004. You may not take a credit for taxes you paid if the seller reimbursed you at the time of closing. You also may not take a credit on your 2005 return for property you purchased in 2005.

Illinois Property You Sold
You may figure a credit for Illinois property you sold in 2005 by combining all the 2004 property tax paid in 2005, as well as a portion of the 2005 tax paid based on the time you owned and lived at the property during 2005. You may not take a credit on your 2005 return for property sold during 2004.

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