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Iowa Form 6251B Statement of Net Worth

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Question
Who should complete Iowa Form 6251B Statement of Net Worth?

Answer

Complete each section as directed. Be sure to include the personal and business assets and liabilities of both spouses. IA 6251B should be completed by those eliminating the distressed sale transaction from net income and those limiting their tax liability to their net worth. This form should also be completed by persons and corporations claiming the refund for livestock production on the IA 132.

Note: The balance sheet should be completed on the basis of the accounting method (cash or accrual) used by the taxpayer.

https://tax.iowa.gov/sites/files/idr/forms1/1341135.pdf


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Views: 703 Created on: Jun 15, 2013
Date updated: Dec 17, 2018
Posted in: States, Iowa

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