Instructions for Schedule 1299-C Income Tax Subtractions and Credits (For Individuals) - Illinois

This document contains official instructions for Schedule 1299-C , Income Tax Subtractions and Credits (For Individuals) - a form released and collected by the Illinois Department of Revenue.

FAQ

Q: What is Schedule 1299-C?
A: Schedule 1299-C is a form used for reporting income tax subtractions and credits for individuals in Illinois.

Q: Who is required to file Schedule 1299-C?
A: Individuals who have income tax subtractions or credits in Illinois are required to file Schedule 1299-C.

Q: What is the purpose of Schedule 1299-C?
A: The purpose of Schedule 1299-C is to report and calculate income tax subtractions and credits for individuals in Illinois.

Q: What are income tax subtractions?
A: Income tax subtractions are deductions or exclusions from your total income that reduce the amount of income subject to tax.

Q: What are income tax credits?
A: Income tax credits are reductions in the amount of tax you owe. They directly reduce your tax liability.

Q: What types of subtractions and credits can be reported on Schedule 1299-C?
A: Schedule 1299-C allows you to report various types of subtractions and credits, such as education expenses, property tax paid, and retirement income.

Q: When is the deadline for filing Schedule 1299-C?
A: The deadline for filing Schedule 1299-C is usually the same as the deadline for filing your individual income tax return in Illinois.

Q: Do I need to include supporting documentation when filing Schedule 1299-C?
A: Yes, you should keep copies of all supporting documents for at least three years in case of audit or verification.

Q: Can I file Schedule 1299-C electronically?
A: Yes, you can file Schedule 1299-C electronically if you are e-filing your income tax return in Illinois.