Iowa Capital Gains Woes? Iowa DOR Can Help

March 31, 2016

The Iowa Department of Revenue has provided some flow-charts to assist with determining whether your client qualifies for the Iowa Capital Gain Deduction.

Line 6 of the Iowa 1040 applies to capital gain transactions. Iowa Department of Revenue could request a copy of the IOWA CAPITAL GAINS CHECKSHEET you prepared to verify whether the client qualifies for the deduction.Following are several helpful links the DOR has provided.

MISCELLANEOUS TRANSACTIONS           

BREEDING STOCK, OTHER Than CATTLE & HORSES            

CATTLE & HORSES used for BREEDING DRAFT, DAIRY or SPORTING PURPOSES               

SALE of BUSINESS ASSETS           

REAL PROPERTY used in a NON-FARM BUSINESS                             

REAL PROPERTY used in a FARMING BUSINESS  

TIMBER    

         

Want to view entire articles or watch the videos?

Log In or Subscribe today!

CALT does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. CALT's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.

RSS​ Facebook Twitter