2014 Schedule Icr Il-1040 Instructions

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Illinois Department of Revenue
2014 Schedule ICR
IL-1040 Instructions
General Information
What is the purpose of Schedule ICR?
If you home school your child(ren), see Publication 119,
Schedule ICR, Illinois Credits, allows you to figure the total amount
Education Expense Credit General Rules and Requirements for
of property tax, K-12 education expense, and earned income credits
Home Schools.
you may claim on Form IL-1040, Individual Income Tax Return.
receipts for education expenses.
What must I attach to Form IL-1040?
If you are the parents or legal guardians of a qualified student
If you enter an amount on Form IL-1040, Line 17 or Line 29, you
and you are filing separate Illinois returns, you may each claim
must attach Schedule ICR and any other required documentation
an education expense credit. However, you both may not claim a
listed in the “Step-by-Step Instructions” of this schedule to your
credit for the same expenses, and the total amount of credit claimed
Form IL-1040.
between both parents or guardians may not exceed $500.
Am I eligible for a property tax credit?
You may figure a credit for the Illinois property taxes you paid in 2014
Qualified education expenses
on your principal residence (not a vacation home or rental property)
Education expenses that qualify for this credit include
for the time you owned and lived at the property during 2013, if that
tuition (including summer school classes meeting
residence was in Illinois. Nonresidents of Illinois may not take this
elementary or secondary graduation requirements).
credit.
book fees covering the rental of books that were required as
You may not figure a credit for mobile home privilege tax, penalties,
a part of the school’s education program.
or fees included in your property tax bill, or the portion of the property
lab fees covering the use of supplies, equipment, materials,
tax that is deductible as a business expense.
or instruments that were required as part of a lab course in
the school’s education program.
If you are married and both you and your spouse qualify for
For example, if you rented a musical instrument from the
a property tax credit on your principal residence, and you are filing
school (not from a business)
separate Illinois returns, you may each claim a property tax credit.
However, the total amount of credit claimed between both spouses
for a class, or
may not exceed 5 percent of the qualifying property tax.
for participation in an extracurricular activity that
resulted in a credit toward completion of the school’s
education program,
Illinois property you purchased
this rental expense qualifies as an education expense.
You may figure a credit for Illinois property you purchased
Education expenses that do not qualify for this credit include
during 2013 providing you figure only that portion of your taxes that
pertains to the time you owned and lived at the property during 2013.
expenses paid to a daycare, preschool, college, university,
You may not take a credit for taxes you paid if the seller reimbursed
independent tutoring service, or trade school.
you at the time of closing. You also may not take a credit on your
expenses paid for the purchase of supplies, books, or
2014 return for property you purchased in 2014.
equipment that are not significantly used up during the
school year (e.g., purchasing musical instruments,
costumes for a play).
Illinois property you sold
expenses paid for the use of supplies, equipment, materials,
You may figure a credit for Illinois property you sold in 2014 by
or instruments if the program does not result in a credit
combining the 2013 property tax paid in 2014, as well as a portion
towards completion of the school’s education program.
of the 2014 tax paid based on the time you owned and lived at the
expenses paid directly to a business (e.g., renting a musical
property during 2014. You may not take a credit on your 2014 return
instrument from a music store).
for property sold during 2013.
expenses for after school care, even if paid to the school.
expenses paid for yourself or your spouse.
For more information, see Publication 108, Illinois Property Tax Credit.
For more details, see Publication 132, Education Expense Credit
Am I eligible for a K-12 education expense
General Rules and Requirements for Parents and Guardians.
credit?
Am I eligible for the Illinois Earned Income
You may figure a credit for qualified education expenses, in excess of
Credit?
$250, you paid during 2014 if
In general, if you qualified for a federal Earned Income Credit (EIC),
you were the parent or legal guardian of a full-time student who
you also qualify for the Illinois Earned Income Credit.
was under the age of 21 at the close of the school year,
you and your student were Illinois residents when you paid the
If you filed a joint federal return and you elected to file
expenses, and
separate Illinois returns because one spouse is an injured spouse,
your student attended kindergarten through twelfth grade at a
you may each claim the EIC. However, the total federal credit
public or nonpublic school in Illinois during 2014.
reported on Schedule ICR, Line 10a for both spouses cannot exceed
the EIC amount claimed on your joint federal return.
You must complete Section B of Schedule ICR, including the K-12
Education Expense Credit Worksheet to claim this credit.
any receipts you received from your student’s school.
IL-1040 Schedule ICR Instructions front (R-12/14)

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