Illinois Capital Gains Tax Calculator
Calculate your 2026 capital gains tax in Illinois. Illinois taxes capital gains at rates up to 4.95%, plus federal taxes.
Original purchase price
Renovations, additions — added to your basis
Agent commissions, closing costs, title & transfer fees
Total Tax
$43,700
21.9% effective rate
Capital Gain
$200,000
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Tax Breakdown
Sale price minus selling costs and all taxes (before any mortgage payoff).
Federal
$33,800
IL State
$9,900
Effective Rate
21.9%
Illinois Capital Gains Tax
Illinois taxes capital gains at its flat 4.95% income tax rate, the same rate that applies to wages. Illinois has no separate capital gains rate or general capital gains exclusion.
Long-term: 4.95% flat rate
Short-term: 4.95% flat rate
NIIT Applied
The 3.8% Net Investment Income Tax applies because your income exceeds $200,000.
Illinois Capital Gains Tax Details
Tax Treatment
Tax Type
Flat tax rate
Maximum Rate
4.95%
Available Exemptions
- Federal home-sale exclusion ($250K single / $500K married filing jointly) flows through to the Illinois return
- Selling costs and capital improvements reduce the taxable gain
Illinois Capital Gains Tax FAQ
Official References
- IRS Topic 409: Capital Gains and Losses
Federal capital gains tax guidance
- IRS Publication 523: Selling Your Home
$250K / $500K home-sale exclusion, basis adjustments, and selling expenses
- Illinois Department of Revenue — Income Tax Rates
Illinois state capital gains rules
This calculator provides estimates. Consult a tax professional for advice specific to your situation in Illinois.
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Jupid AI Accountant helps Illinois residents track investment income and calculate capital gains taxes automatically.