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Category: Iowa
71 Articles
Orange arrow Can I deduct my health and dental insurance on my Iowa return?

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  You may take a deduction for certain health insurance premiums on line 18 instead of IA 1040, Schedule A. Your IA 1040, Schedule A cannot contain any health insurance premiums which are used as a deduction on line 18. Typically, health insurance premiums are made on a pre-tax basis when they are de...
Posted in: States, Iowa

Orange arrow Do I have to report my federal tax refund on my IA return?

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  If you received a refund of federal income tax during 2018: You must report the amount on this line. It must be reported even if you used the standard deduction on the prior year's Iowa return. The federal refund must be included on this line because you benefited from being able to deduct federal...
Posted in: States, Iowa

Orange arrow Do I owe Iowa Minimum Tax?

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  The Iowa Minimum Tax is imposed, for the most part, on the same tax preference items and adjustments on which Federal minimum tax is imposed. However, you may be subject to Iowa Minimum Tax even if you have no liability for Federal minimum tax. If you had tax preference items and adjustments, see ...
Posted in: States, Iowa

Orange arrow How do I claim my Iowa Mortgage Interest Credit Deduction?

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  Taxpayers with the mortgage interest credit can claim on their Iowa return a deduction on line 9b of Schedule A for all mortgage interest paid in the tax year and not just the mortgage interest that was deducted on the Federal Schedule A....
Posted in: States, Iowa

Orange arrow Can I deduct my Iowa vehicle registration fee?

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  Vehicle Registration Fee Deduction and Worksheet If you itemize deductions, a portion of the automobile or multipurpose vehicle annual registration fee you paid in 2018 may be deducted as personal property tax on your Iowa Schedule A, line 6, and federal form 1040, Schedule A, line 5c. This deduc...
Posted in: States, Iowa

Orange arrow What federal securities are taxable to Iowa?

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  The following are not considered federal securities and are taxable: Federal Agency Obligations: Building and Loan Associations Credit Unions, federal or state Export-Import Bank of the United States Farmers Home Administration Federal Agricultural Mortgage Corporation (Farmer Mac) Federa...
Posted in: States, Iowa

Orange arrow Iowa State Exempt Dividends

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  Dividends from certain Iowa state and municipal securities are exempt from Iowa tax The following securities are exempt: Aviation Authority Bonds, Iowa Code section 330A.16 Beginning Farmer Loan Program Bonds, Iowa Code section 16.64 Community College Bond Program Bonds, Iowa Code section 26...
Posted in: States, Iowa

Orange arrow Do I qualify for the Iowa Form 4136 Motor Fuel Tax Credit?

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  Who May Claim Credit: Resident and nonresident individuals, fiduciaries of estates and trusts, and corporations other than S corporations may claim a tax credit on their income tax returns for fuel on which Iowa fuel tax was paid and used off highway in an unlicensed vehicle. This fuel tax credit...
Posted in: States, Iowa

Orange arrow What should be included in the Iowa state withholding not reported elsewhere box?

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  Enter any Iowa state withholding that has not been reported elsewhere. This may be from unemployment, gambling, etc. Do not enter withholdings from any W-2, 1099, etc. Your State withholdings will carry forward from your W-2 inputs in the federal portion of the online interview....
Posted in: States, Iowa

Orange arrow Is my active duty pay exempt from taxes in Iowa?

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  Members of the armed forces, armed forces military reserve and the national guard in an active duty status can exclude pay received from the federal government for military service performed, to the extent it was included in line 15, Gross Income....
Posted in: States, Iowa

Orange arrow Is my retirment plan withdrawal exempt if I am a member of the National Guard or military reserve?

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  Exclusion of Distributions from Retirement Plans by National Guard members and members of military reserve forces of the United States (IAC 40.58) If a National Guard member or member of the military reserve is called to active state or federal duty and makes a withdrawal from a qualified retireme...
Posted in: States, Iowa

Orange arrow Do I qualify for the Iowa minimum tax carry-forward credit?

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  The Iowa Alternative Minimum Tax Credit is available for taxpayers who paid Iowa alternative minimum tax in prior years based on tax preferences and adjustments. The credit is limited to the extent the regular tax exceeds the Iowa alternative minimum tax in a prior tax year and cannot be claimed in...
Posted in: States, Iowa

Orange arrow How much is the Iowa underpayment of estimated tax penalty?

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  If you are an individual taxpayer, other than a qualifying farmer or fisher, you may use this form to determine whether your income tax was sufficiently paid throughout the year by withholding or estimated payments. If payments were not sufficient, you may owe a penalty. Estimated payments are cr...
Posted in: States, Iowa

Orange arrow Do I qualify for an Iowa Pension Exclusion?

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  Pension/Retirement Income Exclusion: If you or your spouse receive a pension, an annuity, a self-employed retirement plan, deferred compensation, IRA distribution, or other retirement plan benefits, you may be eligible to exclude from Iowa income tax part or all of the retirement income that is ta...
Posted in: States, Iowa

Orange arrow Are my Iowa securities tax exempt?

544 views
  Include the same amounts of interest income reported on your Federal return with the following modifications: Add interest from state and municipal securities unless specifically exempt from Iowa tax. The following securities are exempt: Aviation Authority Bonds, Iowa Code section 330A.16 Be...
Posted in: States, Iowa


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