Calculate your federal and Illinois capital gains tax liability
Calculate Your
Illinois Capital Gains Tax
Illinois taxes capital gains at a flat rate of 4.95%.
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Illinois Capital Gains Tax Highlights
Enter Your Investment Details
Calculate your capital gains tax for Illinois
📊 Enter your annual taxable income before including this capital gain. This determines your capital gains tax bracket.
📊 Choose your investment holding period
Calculator optimized for Illinois tax rates
Tax Calculation Results
How Illinois Taxes Capital Gains
Illinois taxes capital gains at a flat rate of 4.95%.
2025 Tax Brackets
Illinois Tax Details
Tax Rate Structure
Illinois applies a flat rate to all capital gains regardless of income level.
Key Requirements
Illinois Tax Strategies
- • Consider timing of asset sales for tax efficiency
- • Coordinate with federal capital gains strategies
- • Review loss harvesting opportunities
• Consult with Illinois tax professional for complex situations
Related Tax Services
Real Estate in Illinois
Real estate capital gains in Illinois are subject to both federal and state tax considerations:
Illinois Real Estate Tax Rate
Real estate capital gains in Illinois are taxed at a flat rate up to 4.95%.
Primary Residence
Federal Rules
Illinois State Rules
State tax applies to gain above federal exclusion
Must file state return if gain exceeds exclusion
Additional Requirements:
- • Follows federal IRC Section 121.
Investment Property
Tax Deferral Strategies
1031 Like-Kind Exchanges
Defer federal taxes on investment property exchanges
Transfer Costs
Transfer Tax
Local Variations:
- • Counties can add $0.25 per $500. Chicago has a much higher city rate.
Available Exemptions:
- • Transfers to secure a debt
- • Gifts
- • Certain corporate transfers.
Recording Fees
Additional Fees:
- • Predictable Fee Schedule may be used in some counties.
Special Deductions & Notes:
- • The 5-year bonus depreciation add-back must be calculated on IL Schedule IL-4562.
Investment & Tax Services
Property Tax Exemptions
Homestead
$10K
Maximum exemption
Senior (65+)
$8K
Additional exemption
Illinois Real Estate Specifics
• Illinois has a state, county, and sometimes municipal real estate transfer tax.
• The state does not conform to the federal bonus depreciation allowance.
• Illinois offers numerous property tax exemptions, including significant ones for seniors, veterans, and persons with disabilities.
Real Estate & Investment Services
Illinois Filing Requirements
Due Dates
Required Forms
- • Form IL-1040
- • Capital gains schedule
- • Federal Form 8949 & Schedule D
Payment Options
- • Online payment portal
- • Electronic funds transfer
- • Check or money order
Tax Professional Services
Tax Calculation Results
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