Line
5
Step
5
Step Subject
Gross Income
Instruction Year
2017
Report the net business income or loss from federal Schedule C or C-EZ. Include a copy of the federal form.
The IA 4562A&B (pdf) may need to be completed if the taxpayer claimed the bonus depreciation/section 179 deduction on the federal return.
If one spouse has a loss, the couple may want to determine if filing status 2 is to their advantage.
Schedule C filers may need an Iowa Sales Tax Permit. Businesses selling taxable products or performing taxable services must have a permit to properly collect and remit sales tax.
Military Spouses
See Military Spouses Residency Relief Act
Married Separate Filers: Reported by the spouse deriving the income or loss. |