Question

residency once retired

Forum|Forum|1 year ago
January 12, 2025
1 reply
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I am a resident of IL and want to maintain my residency in IL when I retire, even though I plan on traveling abroad most of the time. I plan on keeping my driver license, my bank account, and on selling my house. Can I use a friend's home address to maintain my residency? Of course, I will file state taxes in IL.

thanks

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X

xmasbaby0

Illinois does not tax retirement income. So if you get Social Security or distributions from retirement accounts or a pension, you will not be entering any of that on an IL return. Will you have any other kind of income--like investment income? Interest on a 1099DIV? Rental property income? If not, you might not even need to file an IL return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

E

EnrichettaAuthor

thanks. I might have investment income and maybe rental income. if so, I will have to file, right? can I do that without owning or renting a home?

X

xmasbaby0

Yes----other kinds of income are taxed by IL---just not retirement income.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**