The Illinois Invest In Kids Scholarship Tax Credit Program offers a 75% income tax credit to individuals and businesses that contribute to qualified Scholarship Granting Organizations (SGOs).
To enter the Invest in Kids Scholarship Tax Credit:
- From within your TaxAct return (Online or Desktop), click State to expand, then click Illinois (or IL). On smaller devices, click in the upper left-hand corner, then click State.
- Click Credits in the Illinois Quick Q&A Topics menu to expand, then click Credits from Schedule 1299-C.
- Click + Add Schedule C to create a new copy of the form or click Edit to review a form already created.
- Continue with the interview process to enter all of the appropriate information.
- On the screen titled Illinois - Credits from Schedule 1299-C, click Edit on the Form 1299-C shown in your name.
- Scroll down to Step 3, Line 19, click Credit Input Worksheet Available, then click the yellow folder to access the associated document.
- Click to expand Schedule 1299-C - Credit Input Worksheet, then click Add.
- Click the 1 Select the credit line for a drop-down, select "5660 – Invest in Kids," complete the rest of the worksheet, then click Save & Close.