Instructions For Form Ia 1040 - Iowa Individual Income Tax Form

LINE 61. Other Refundable Credits. Enter the total of other credits

carry forward of any excess credit that is unused.

from Part II, IA 148 Tax Credits Schedule. See the 2013 online Expanded

LINE 65. Iowa Income Tax Withheld. Enter the total amount of

Instructions for a list of credits. Include the IA 148 with the IA 1040.

income tax withheld for Iowa on your W-2s, W-2Gs, and/or 1099s.

LINE 64. Taxpayers Trust Fund Tax Credit. A tax credit of $54 can

LINE 66. Estimated and Voucher Payments. Enter the total amount of

be claimed for each taxpayer who files a 2013 Iowa 1040 return by

2013 Iowa estimated tax payments. This includes any fourth quarter payment

October 31, 2014. For taxpayers who file a joint return or married filing

made in January 2014 and any payments made with the IA 1040V Payment

separately on a combined return, each spouse can claim the $54 credit.

Voucher for 2013. Also include any amount applied to your 2013 Iowa

The credit is limited to the tax liability shown on line 63, and there is no

estimated tax from line 71 of your 2012 Iowa income tax return.

STEP 10 REFUND OR AMOUNT YOU OWE

LINE 73. Penalty for Underpayment of Estimated Tax:

74a. 10% Penalty for Failure to Timely File a Return: If you do not file

If you are required to make estimated tax payments but fail to make the

your return by the due date and at least 90% of the correct tax is not

payments, you are subject to a penalty in addition to any tax you may

paid, you owe an additional 10% of the unpaid tax.

owe. The penalty is determined in the same way as for federal purposes.

5% Penalty for Failure to Timely Pay the Tax Due: If you file your

Consequently, you must include your Iowa income, lump-sum, and

return on time but do not pay at least 90% of the correct tax due, you

minimum taxes when calculating the penalty for underpayment of

owe an additional 5% of the unpaid tax.

estimated tax.

You will never be subject to both the 5% and 10% penalties. The

If you are subject to this penalty, complete IA 2210 or IA 2210S (IA 2210F

penalty will be the applicable 5% or 10%, but not a total of 15%.

for farmers and fishers), enter the penalty on this line, and include a copy

74b. Interest must be added to delinquent tax. Interest is added at a

with your return. If you choose to use the annualized method of computing

rate of 0.4% per month beginning on the day after the due date of the

the penalty, include a copy of the IA 2210 Schedule AI with your tax

return and accrues each month until paid in full.

return.

LINE 75. You have four options to pay the amount due. Direct

If you are due a refund, subtract the penalty amount from the overpayment

debit payment with the income tax return, ePay (direct debit) at

you show on line 70 or line 71.

, credit/debit card, or mail a check/money order

Line 74. Penalty and Interest.

with an IA 1040V Payment Voucher from our website, payable to

Iowa does not follow the federal extension guidelines.

Treasurer, State of Iowa. Do not make payments of less than one

dollar. See the 2013 online Expanded Instructions for more information.

STEP 12: SIGNATURE

STEP 11: POLITICAL CHECKOFF

Returns are not processed and refunds are not issued if returns are not

Contributions to this checkoff do not reduce your refund or increase

your amount due. Contributing to this checkoff is not required. You

signed. If you and your spouse file a joint or combined return, both of

may assign $1.50 to a specific political party or to the Iowa Election

you must sign. Deceased Taxpayer: If your spouse died and you are

Campaign Fund for distribution to qualifying parties. Each spouse may

filing a joint or combined return, write on the deceased’s signature line

assign $1.50 to the party of choice regardless of the filing status of the

“Filing as a surviving spouse,” check the box, and enter the date of

death. Also, enclose any forms required to be filed with your federal

return.

return, such as federal form 1310 or a copy of the court certificate

showing your appointment as a personal representative of the decedent.

2013 INSTRUCTIONS FOR SCHEDULE IA 126

You will need to complete the IA 1040 lines 1-47 before you can complete the IA 126. The IA 1040 must be completed using

all-source income. Nonresidents and part-year residents of Iowa will use the IA 126 to figure your Iowa-source income. The credit from this

form is used to reduce total tax on your IA 1040. Please include a copy of your federal return.

For part-year Iowa residents, Iowa net income includes all income received while living in Iowa plus any Iowa-source income received while a

nonresident. For nonresidents, Iowa net income will include all income from Iowa sources. Complete lines 1-26 of the IA 126 using only income

from Iowa sources. Enter the amount of credit from line 33, IA 126, on line 48, IA 1040.

If you used filing status 3 (married filing separately on the combined return) on your IA 1040, you will divide your Iowa income between spouses

using the instructions given for the corresponding line on the IA 1040 for married separate filers.

3. DIVIDEND INCOME.

1. WAGES, SALARIES, TIPS, ETC.

Part-year residents: Report all dividends received while an Iowa

Part-year residents: Include all W-2 income earned while an Iowa

resident and any dividends derived from an Iowa trade, business, or

resident, even if it was earned in another state, and any income for

profession while a nonresident.

services performed in Iowa while a nonresident of the state. If it was

Nonresidents: Report the dividends derived from an Iowa trade,

earned in another state, you may also need to fill out the IA 130 when

business, or profession.

you pay tax to the other state. You will need to check with that state

for their filing requirements.

4. ALIMONY RECEIVED.

Nonresidents: Report only Iowa-source income. If the portion of

Part-year residents: Report all alimony or separate maintenance

employee compensation earned in Iowa by a nonresident is not reported

payments received while an Iowa resident.

separately, allocate the compensation based upon the number of days

Nonresidents: Do not enter anything on this line.

worked in Iowa to total work days.

5. BUSINESS INCOME OR (LOSS).

2. TAXABLE INTEREST INCOME.

Part-year residents: Report all federal Schedule C or C-EZ income

Part-year residents: Report all interest shown on the IA 1040 which

earned while an Iowa resident and any portion of business income or

accrued while an Iowa resident and any interest received while a

loss earned while a nonresident attributable to a business conducted in

nonresident which was derived from a trade, business, or profession

Iowa.

carried on within Iowa.

Nonresidents: Report the portion of business income or loss attributable

Nonresidents: Report only the interest derived from an Iowa trade, business,

to a business conducted in Iowa. Include a supporting schedule showing

or profession.

Iowa gross receipts divided by total gross receipts; multiply this ratio times

41-002i (11/18/13)

Instructions For Form Ia 1040 - Iowa Individual Income Tax Form - 2013 Page 9

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