Form Ia 104 - Iowa Itemized Deductions Worksheet - 2015
ADVERTISEMENT
1Iowa Department of Revenue
2015 IA 104
https://tax.iowa.gov
Iowa Itemized Deductions Worksheet
Use only if your federal AGI, plus bonus depreciation/section 179 adjustment from the IA 1040, line
14, is more than: $309,900 for married filing jointly or qualifying widow(er); $284,050 for head of
household; $258,250 for single filers; or $154,950 for married filing separately, on your federal return.
This worksheet computes the amount of itemized deductions to enter on line 26 of the IA Schedule A.
Step 1 Complete the IA Schedule A, lines 1-25.
Step 2 Re-compute the federal Itemized Deduction Worksheet:
1.
Enter the sum of lines 3, 8, 13, 17, 18, 24, and 25 from the IA Schedule A ................. 1.
2.
Enter any Iowa income tax from line 5 of the federal Schedule A. Do not include
school district/EMS surtax. ........................................................................................... 2.
3.
Add amounts from lines 1 and 2. .................................................................................. 3.
4.
Add the amounts on Iowa Schedule A, lines 3, 12, 18, plus gambling losses and
casualty or theft losses included on line 25 and enter here. ......................................... 4.
5.
Is the amount on line 4 less than the amount on line 3?
No. Stop! Your deduction is not limited. You do not need to complete the rest
of this form. Enter the amount from line 1 above on the IA Schedule A, line 26.
Yes. Subtract line 4 from line 3. .............................................................................. 5.
6.
Multiply line 5 by 80% (.80) .......................................................................................... 6.
7.
Enter amount from federal 1040, line 38, plus any bonus depreciation/section 179
adjustment and all other decoupling from line 14 of the IA 1040 .................................. 7.
8.
Enter: $258,250 if single; $284,050 if head of household; $309,900 if married filing
jointly/qualifying widow(er); $154,950 if married filing separately for federal purposes.8.
9. Is the amount on line 8 less than line 7?
No. Stop! Your deduction is not limited. You do not need to complete the rest of
this form. Enter the amount from line 1 above on IA Schedule A, line 26.
Yes. Subtract line 8 from line 7 ............................................................................... 9.
10.
Multiply line 9 by 3% (.03) .......................................................................................... 10.
11.
Enter the smaller of line 6 or line 10 ........................................................................... 11.
12.
Total adjusted federal itemized deductions. Subtract line 11 from line 3 and enter
on Step 3, line 1 of the IA 104 .................................................................................... 12.
Step 3 Complete the IA 104 below:
1. Enter the revised allowable federal itemized deductions from Step 2, line 12 .............. 1.
2. Enter the amount from Step 2, line 4 ............................................................................ 2.
3. Subtract line 2 from line 1 ............................................................................................ 3.
4. Enter the amount from Step 2, line 3 ............................................................................ 4.
5. Subtract line 2 from line 4 ............................................................................................ 5.
6. Divide line 3 by line 5 and enter the percentage here .................................................. 6.
%
7. Enter the amount from Step 2, line 2 ............................................................................ 7.
8. Multiply line 7 by the percent on line 6 ......................................................................... 8.
9. Subtract line 8 from line 1. Enter this amount on line 26 of the IA Schedule A ............ 9.
Keep this worksheet with your tax records.
41-104 (09/08/15)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial