Farm Income / (Loss)

Line
11
Step
5
Step Subject
Gross Income
Instruction Year
2020

Enter the income or loss from federal Schedule F. Include a copy of federal Schedule F.

The IA 4562A&B may need to be completed if the taxpayer claimed depreciation or section 179 deductions on the federal return.

Taxpayers who had to make adjustments for Iowa’s nonconformity to federal law in 2018 and 2019 may need to complete form IA 101 in 2020 and later years. See the IA 101 Nonconformity Adjustments form for more information.

For tax year 2020 and later, Iowa is not conformed to the business interest expense limitation in IRC section 163(j). See the IA 163 and IA 163A for more information.

The Iowa Department of Revenue may require proof of any item listed on a return or schedule.

Married Separate Filers:

Farm income must be reported by the spouse who claims it for self-employment tax purposes on the federal Schedule SE.

If the other spouse claims a share of the farm income, then that spouse must attach a worksheet showing how that share was determined based on capital contribution, management and control, and services rendered.

Go to Line 10

Go to Line 12


Source URL: http://tax.iowa.gov/expanded-instructions/farm-income-loss-2020