Other Gains / (Losses)

Line
7
Step
5
Step Subject
Gross Income
Instruction Year
2020

If you sold or exchanged assets used in a trade or business and completed federal form 4797, enter 100% of the gain or loss as shown on federal form 1040, schedule 1, line  4. Include a copy of federal form 4797.

Married Separate Filers:

Divide gains or losses based on ownership of the asset sold or exchanged.

 Go to Line 6

 Go to Line 8


Source URL: http://tax.iowa.gov/expanded-instructions/other-gains-losses-2020