Illinois NonResident and Part Year Taxable Interest and Dividend Income
Only interest and dividends received as part of a business conducted in Illinois is taxable on your Illinois nonresident return. Use the IAF Worksheet below to calculate the amount of business interest and/or dividends to include on your Illinois return. Calculate the interest and dividend income separately.
Part Year Residents:
ALL interest and dividend income you received during your period of residency is taxable to Illinois; however, only interest and dividends received as part of a business conducted in Illinois is taxable during your period of non residency. Use the IAF Worksheet below to calculate the amount of business interest and/or dividends received during your period of nonresidency to add to your other taxable interest and dividends received during your period of residency. Calculate the interest and dividend income separately.
Income Apportionment Formula (IAF) Worksheet:
Total Sales Inside Illinois
Total Sales Everywhere
Illinois Income Apportionment Formula (IAF) decimal
IAF decimal (figured above)
Amount of business or farm interest or dividend from Federal return, Form 1040, Line 8 or 9
Illinois Apportioned Income
Enter this amount on your NonResident return. Part Year residents continue below
PART YEAR RESIDENTS (Take the calculation above and complete the following):
Illinois interest or dividend income earned during your period of residency
Illinois Apportioned Income (from above)
Total taxable interest or dividend income
For further instructions, please see the IL NonResident/Part Year instructions.