Illinois Capital Gains Tax Calculator
Illinois taxes capital gains at its flat 4.95% income tax rate. Estimate federal + state tax.
Illinois taxes capital gains at its flat individual income tax rate of 4.95% of net income, in effect since July 1, 2017, with no separate treatment for long-term gains.
| Rule | Illinois |
|---|---|
| Rate | 4.95% of net income (individual income tax, effective July 1, 2017). |
| Short- vs long-term | No difference: gains included in federal adjusted gross income flow into Illinois base income. |
| Adjustments | Illinois additions, subtractions and exemptions apply to the whole return; the calculator does not model them. |
| Tax year | 2026 return (Form IL-1040). |
Sources: Illinois Department of Revenue, "Income Tax Rates", read 2026-10-10.
Estimate only, not an official determination. What this estimate covers and its limits
Enter Your Details
Adjust values to see instant results
Additional Details
Pre-filled: Editable top/representative-rate proxy; not a state return calculation
Additional Details
Estimated Federal + State Tax
Estimated • Based on your inputs
Estimated Net Sale Proceeds
$90,025.00
Detailed Breakdown
Disclaimer: This calculator provides estimates for informational purposes only. Results should not be considered financial, tax, or legal advice. Consult a qualified professional for your specific situation.
How This Calculator Works
Calculation methodology and assumptions
The Illinois line is the modeled gain times the 4.95% in the Modeled State Rate field, added to the federal estimate.
Estimate only — these are not official figures
State tax is not a return calculation: Illinois generally includes capital gains in individual base income and applies its 4.95% flat rate, subject to Illinois additions, subtractions, exemptions, and credits omitted here.
Do not rely on these amounts for budgeting or payment. For exact amounts, check the Illinois tax authority (https://tax.illinois.gov/research/taxrates/income.html).
Key State Information
With one flat rate, an Illinois seller's state tax is 4.95% of the gain whether it is short- or long-term, which makes the calculator's state figure close to exact for a resident, apart from the return-wide exemptions and credits.
Example Calculation
A single Chicago teacher with $47,000 of other taxable income sells a mutual fund bought fourteen months ago for $26,000 at $41,000.
Entered as $26,000 basis, $41,000 proceeds, single, $47,000 of other income: the calculator finds a $15,000 long-term (14 months) gain, $1,883 of regular federal tax, and $743 of Illinois tax at the 4.95% default.
Result: $2,625 in total (17.5% of the gain), leaving $38,375. $743 is 4.95% of the $15,000 gain; holding fourteen months instead of ten lowered only the federal part.
StateCalc Team
Editorial Team
The StateCalc team builds free financial calculators using data from official government sources including the IRS, U.S. Census Bureau, BLS, and state revenue departments. All formulas are validated by an automated test suite and cross-referenced against published data.
Our editorial standardsFrequently Asked Questions
What is the Illinois capital gains tax rate?
4.95%. The Illinois Department of Revenue lists the individual income tax as 4.95 percent of net income, effective July 1, 2017, and gains are part of that income.
Does Illinois tax long-term gains at a lower rate?
No. Illinois has one flat rate for all individual income, gains included.
Is the calculator's Illinois state figure exact?
Close: 4.95% times the gain, before Illinois exemptions and credits that apply to the whole return.
People Also Calculate
Frequently used together with this calculator
Related Calculators
More Capital Gains Tax Calculators
More Calculators for Illinois
Explore related financial tools with Illinois data
Compare Illinois With Other States
Side-by-side tax, housing & cost of living comparisons