N02L84ER
Thinks s/he gets paid by the post
I am trying to decide what is actually going to be taxable in Illinois from my spouse's inheritance in 2020 so that I can make my estimated payment by the 15th. Our normal IL tax situation is so simple that I have never had to purchase a state Turbo Tax so I cannot use a previous year's version and I do not know when he will get his 1099s or whatever they will mail to him. I guess I could purchase this year's with the state if no one has any information that would help. Anyway, he was paid around
1. $1000 from Social Security since his mother's bank returned her last deposit. Normally SS is not taxed I think. We are both under 62 and have never had to worry about this before. Will IL tax the $1000?
2. $5000 as the death benefit on her teacher pension. I think pensions are not taxed but have no idea about death benefits. Neither of us have pensions so this is also new ground for us. Will IL tax the $5000?
Thanks for any guidance.
1. $1000 from Social Security since his mother's bank returned her last deposit. Normally SS is not taxed I think. We are both under 62 and have never had to worry about this before. Will IL tax the $1000?
2. $5000 as the death benefit on her teacher pension. I think pensions are not taxed but have no idea about death benefits. Neither of us have pensions so this is also new ground for us. Will IL tax the $5000?
Thanks for any guidance.