Legal Question in Tax Law in Illinois

You may. If it is a managed account there is trading going on unless the funds are just sitting in cash. In addition you may have a reporting requirement separate and aside from the income tax reporting.

If there is more than $10,000 in the account, you have a duty to file Treasury Form FinCen 114 and perhaps other forms. If income is earned within the account, it's probably taxable income to you whether it stays in the account or not. It sounds like you are ready to move up to a professional tax preparer to get advice custom tailored to your situation.