|
|
|
|
Iowa Tuition and Textbook Credit
|
|
| |
Taxpayers who have one or more dependents attending Kindergarten through 12th grade in an accredited Iowa school may take a credit for each dependent for amounts paid for tuition and textbooks. Dependents must have attended a school in Iowa that is accredited under section 256.11, not operated for ...
|
|
|
Itemize Iowa Deductions |
|
| |
You may itemize deductions or claim the Iowa standard deduction, whichever is larger. You may itemize deductions on your Iowa return even if you did not itemize deductions on your federal return. MARRIED SEPARATE FILERS: If one spouse uses the itemized deduction, then both spouses must use the ite...
|
|
|
Iowa Excess Mortgage Interest
|
|
| |
Mortgage Interest Credit Deduction. 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....
|
|
|
Iowa Expenses for Care of Disabled Relative |
|
| |
Expenses Incurred for Care of a Disabled Relative: Expenses, not to exceed $5,000, incurred in caring for a disabled relative in your home may be deducted. The expenses must be for the care of a person who is your grandchild, child, parent, or grandparent. The disabled person must be unable, by rea...
|
|
|
Iowa Adoption Expenses
|
|
| |
Adoption Expenses: If you adopted a child during the tax year, you may be eligible to deduct a portion of the adoption expenses you paid in that year. This deduction is taken in the year you paid the expenses even if the child is not placed in your home that year. Costs relating to the child’...
|
|
|
Iowa Vehicle Registration Fee Deduction |
|
| |
If you itemize deductions, a portion of the annual automobile registration fee you paid may be deducted as personal property tax on your Iowa Schedule A, line 6, and federal Schedule A, line 8. This deduction is for annual registration fees paid based on the value of qualifying automobiles and mult...
|
|
|
Iowa Pension Exclusion
|
|
| |
If you or your spouse receive a pension, annuity, 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 taxable on your federal return. Social Securi...
|
|
|
Iowa Health Insurance Premiums |
|
| |
Part-year residents: a. Self-employed. Enter 100% of the health insurance premiums paid by a self-employed individual while an Iowa resident. b. Deducted through wages. Enter 100% of the health insurance premiums that were not withheld from your wages on a pretax basis while an Iowa resident. ...
|
|
|
Iowa Pension Exclusion
|
|
| |
If you or your spouse receive a pension, annuity, 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 taxable on your federal return. Social Securi...
|
|
|
Iowa Health Insurance Premiums |
|
| |
HEALTH INSURANCE DEDUCTION. Part-year residents: Self-employed. Enter 100% of the health insurance premiums paid by a self-employed individual while an Iowa resident. Deducted through wages. Enter 100% of the health insurance premiums that were not withheld from your wages on a pretax basis whi...
|
|
|
Iowa Franchise Tax Credit
|
|
| |
If a financial institution as defined in Section 581 of the Internal Revenue Code elects to file as an S corporation for Federal income tax purposes and therefore have its income taxed directly to the shareholders, those shareholders qualify for a Franchise Tax Credit. The credit cannot exceed the...
|
|
|
Iowa Minimum Tax Carry-Forward Credit |
|
| |
Form IA 8801 is used to compute the minimum tax credit, if any, for minimum tax that was paid last year may be claimed against your regular income tax on line 43 of the IA 1040 for this year. The form is also used to compute the minimum tax carryforward credit that may be used in future years. WHO...
|
|
|
Iowa Form 4136 Motor Fuel Tax Credit
|
|
| |
Who May Claim Credit:Resident and nonresident individuals, fiduciaries of estates and trusts, and C corporations may claim a tax credit on their income tax returns for fuel that was or will be used in unlicensed vehicles for non-highway purposes in the tax period The Fuel Tax Credit cannot be clai...
|
|
|
Iowa Form 4136 Motor Fuel Tax Credit |
|
| |
Senate File 257 was enacted February 25, 2015, resulting inchanges to Iowa fuel tax rates effective March 1, 2015. Fiscal filers should use Schedule IA 4136 Iowa Fuel Tax Credit for Fiscal Year Filers, form 41-036. Resident and nonresident individuals, fiduciaries of estates andtrusts, and C corpor...
|
|
|
Iowa Motor Fuel Tax Credit Computation
|
|
| |
Enter in the proper column(s) the total number of gallons of fuel from your paid fuel invoices, on which Iowa fuel tax was paid and which were placed in your fuel storage tanks during the tax year. Invoices must be kept for three years after your return is filed as proof of your credit. Gasoline or...
|