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Category: Illinois

Illinois NonResident and Part Year Resident Deductible SEP, SIMPLE and other Qualified Plans

Use the following worksheet to calculate the Illinois deductible portion of the Federal amount entered for the SEP, SIMPLE and other Qualified Plans Deduction.

 

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/

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=

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Self-employment income included as Illinois Self-employment income

 

Total Self-employment income from Federal return

 

Illinois Self-employment (ISE) decimal

     

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X

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=

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ISE decimal (figured above)

 

Amount of SEP, Simple and other qualified plans deducted on Federal return, Form 1040 Line 28

 

Illinois portion of SEP, Simple and other qualified plan deduction. Enter this amount on your return.