Iowa Capital Gain Deduction Flowchart

Do You Have A Qualifying Iowa Capital Gain Deduction?

If line 6 of the IA 1040 includes a capital gain transaction, click on the applicable type of sale. Should the Department request it, the information on the applicable Capital Gain Deduction Checklist will be needed to verify whether you qualify for the deduction. Other information, in addition to that shown on the checklist, may also be required in some situations.

IAC – Iowa Administrative Code       IRC – Internal Revenue Code        IRS – Internal Revenue Service