Form Ia 130 - Iowa Out-Of-State Credit Computation - 2014
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1Iowa Department of Revenue
2014 IA 130
Iowa Out-of-State Credit Computation
Social Security Number
Name(s) as shown on page 1 of the IA 1040
General Instructions:
Include the following with this form when
Also see instructions for line 57, IA 1040.
filing your IA 1040:
Nonresidents of Iowa may NOT claim this credit.
The income tax return you filed with the other state.
Part-year residents of Iowa may claim this credit only if any income earned
If you are claiming the credit for taxes paid to a foreign
while an Iowa resident was also taxed by another state or foreign country.
country, include federal form 1116, Foreign Tax Credit, if it
The tax imposed on your income is the tax shown on the income tax return
is required with your federal return.
you filed with that state or foreign country.
If you were assessed a minimum tax or a special tax on a
You must complete a separate IA 130 for each state or foreign country.
lump-sum distribution by another state, see our Expanded
Separate IA 130s are not required for foreign taxes paid by mutual funds or
Instructions on our website
other regulated investment companies.
Note: The credit or portion of the credit must not exceed the amount of the Iowa tax
imposed on the same income that was taxed by the other state or foreign country.
Name of State / Country that taxed income also taxed by
Shareholders of S corporations who have income from the corporation that was
Iowa:
apportioned outside Iowa and not taxed by Iowa cannot claim an out-of-state credit on
this income.
Spouse: ______________
You: ________________
Section I – Full– Year Iowa Residents Only
Column B
Column A
Spouse/Status 3
You or Joint
1.
Amount of gross income you received that was taxed by Iowa and taxed by the
▲
other state/foreign country .....................................................................................
1.
.00
.00
2.
Gross taxable income for residents from line 15, IA 1040 .......................................
2.
.00
.00
3.
Divide line 1 by line 2 and enter the percentage
rounded to the nearest tenth of a
percent. Do not exceed 100.0%. ...........................................................................
3.
%
%
4.
Tax from line 51, IA 1040, less lump-sum tax and minimum tax. ...........................
4.
.00
.00
5.
Multiply line 4 by the percentage on line 3. ........................................................... .
5.
.00
.00
▲
6.
Enter the tax imposed by the other state or foreign country. ..................................
6.
.00
.00
7.
Enter the smaller of lines 5 or 6. This is your Out-of-state Tax Credit.
Enter this amount on line 57, IA 1040. ....................................................................
7.
.00
.00
Section II – Part – Year Iowa Residents Only
Column B
Column A
Spouse/Status 3
You or Joint
1.
Amount of gross income you received while you were an Iowa resident that was
▲
taxed by Iowa and taxed by the other state/foreign country. ..................................
1.
.00
.00
2.
Gross taxable income for part-year residents from line 15, IA 126. ........................
2.
.00
.00
3.
Divide line 1 by line 2 and enter the percentage
rounded to the nearest tenth of a
percent. Do not exceed 100.0% .............................................................................
3.
%
%
4.
Tax from line 51, IA 1040, less lump-sum tax and minimum tax .............................
4.
.00
.00
5.
Multiply line 4 by the percentage on line 3 ..............................................................
5.
.00
.00
▲
6.
Enter the tax imposed by the other state or foreign country. ..................................
6.
.00
.00
▲
7.
Enter the total amount of gross income taxed by the other state/foreign country
7.
.00
.00
8.
Divide line 1 by line 7 and
enter percentage rounded to the nearest tenth of a
percent. Do not exceed 100.0% .............................................................................
8.
%
%
9.
Multiply line 6 by the percentage on line 8. .............................................................
9.
.00
.00
10.
Enter the smaller of lines 5 or 9. This is your Out-of state Tax Credit.
Enter this smaller amount on line 57, IA 1040. ...................................................... .
10.
.00
.00
*1441130019999*
41-130 (05/16/14)
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