Do You Have A Qualifying Iowa Capital Gain Deduction?
If line 6 of the IA 1040 includes a capital gain transaction, you may have a qualifying Iowa capital gain deduction. The Iowa capital gain deduction is subject to review by the Iowa Department of Revenue and must be reported on an Iowa Capital Gain Deduction IA 100 form. Before you complete the applicable Iowa Capital Gain Deduction IA 100 form, review the Iowa Capital Gain Deduction Information Guide. Other information, in addition to that identified on the Iowa Capital Gain Deduction Information Guide and the applicable IA 100A-100F forms and instructions, may be required in some situations.
Use the following flowcharts to assist you in completing the applicable IA 100 form(s) and determining whether you have a qualifying Iowa capital gain deduction. These flowcharts are for personal use and should not be submitted to the Department.
IAC – Iowa Administrative Code IRC – Internal Revenue Code IRS – Internal Revenue Service