Illinois Department of Revenue
 
 
Individuals
 
 
 
 
 

Social Security benefits and certain retirement plans

 
 
seniors investigating tax questions

You may subtract most retirement income if it is included in Form IL-1040, Line 1. This includes income from
  • qualified employee benefit plans (including railroad retirement and 401(K) plans) reported on U.S. 1040, U.S. Individual Income Tax Return, Line 16b, or U.S. 1040A, U.S. Individual Income Tax Return, Line 12b.
  • Individual Retirement Accounts or self-employed retirement plans reported on U.S. 1040, Line 15b, or U.S. 1040A, Line 11b.
  • Social Security and railroad retirement benefits reported on U.S. 1040, Line 20b, or U.S. 1040A, Line 14b.
  • government retirement and government disability plans and group term life insurance premiums paid by a qualified retirement plan reported as wages on your U.S. 1040 or 1040A, Line 7.
  • state or local government deferred compensation plans reported on U.S. 1040, Line 7 or 16b, or U.S. 1040A, Line 7 or 12b.
  • capital gains on employer securities reported on U.S. 1040, Line 13.
  • retirement payments to retired partners reported on U.S. 1040, Line 17.

For more information please see the IL-1040 Instructions and Pub-120, Retirement Income.
 
 
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