Article: 50610
IL 1299-I Income Tax Credit Worksheet 3
This screen is used to report specific Illinois tax credits administered through the Department of Commerce and Economic Opportunity (DCEO) or the Department of Human Services (DHS). Most of these credits can be carried forward for up to five years, while some cannot be carried forward or transferred.
Credits that can be carried for 5 years:
- Enterprise Zone Construction Jobs (Code 5120)
- High Impact Business Construction Jobs (Code 5160)
- New Construction EDGE (Code 5320)
- River Edge Construction Jobs (Code 5560)
For each of these, enter the amount available from the tax credit certificate issued by DCEO.
Reimagining Electric Vehicles (REV) Illinois Investment Credit (Code 5230): If you received this credit, enter details about each qualifying property:
- Property description
- Whether it is new or used
- Service date and location
- ACRS class and property basis amount
The Recovery and Mental Health Credit (Code 0180) cannot be carried forward or transferred.
How to Add This Screen
- Click on the State Taxes section on the left-hand side of the screen
- Click the link I’d like to see the forms I’ve filled out or search for a form.
- Choose Illinois from the dropdown.
- From the Credits tab click IL – Schedule 1299-I: Income Tax Credit Worksheet 3.
- Enter the applicable details for each credit.
- Click Save.
Further Information
For details on Illinois business and investment-related tax credits, visit:
Illinois Department of Revenue – Individuals: https://tax.illinois.gov/individuals.html