Instructions For Form Ia 1120 - Iowa Corporation Income Tax Long Form

Electronic filing is available for Iowa corporation income tax returns

using the IA 1120.

Go to for details on electronic filing.

The IA 1120A short form is available on the Iowa Department of Revenue Web site.

Iowa no longer allows the carryback of net operating losses for tax years beginning on or after January 1, 2009.

For any assets placed in service after September 10, 2001, but before May 6, 2003, Iowa continues to disallow

the 30% bonus depreciation provisions of the federal Job Creation and Worker Assistance Act of 2002. In addition,

Iowa does not allow the 50% or 100% bonus depreciation provisions allowed for federal purposes for assets

acquired after December 31, 2007, and before January 1, 2013. Form IA 4562A must be filed to account for these

differences between Iowa and federal laws.

Iowa did adopt the federal provisions relating to increasing the expensing amount under section 179 of the Internal

Revenue Code. The section 179 expensing limit for tax years beginning in 2012 is $139,000.

IA 4562B Iowa Depreciation Accumulated Adjustment Schedule is available on the Department’s Web site and must

be completed to record the cumulative effect of the adjustment and attached to the Iowa return.

Form IA 148 Tax Credits Schedule must be completed for any tax credits claimed other than the motor fuel tax credit

on Schedule C1.

IA 1120 RETURN INDEX

NAME .................................................................................................... SCHEDULE ................... PAGE

Other Additions/Reductions .................................................................. A ....................................... IA 1120, page 2

Foreign Dividend Exclusion .................................................................. B ....................................... IA 1120, page 2

Credits ..................................................................................................... C1 ..................................... IA 1120, page 2

Payments ................................................................................................. C2 ..................................... IA 1120, page 2

Nonbusiness Income .............................................................................. D ....................................... IA 1120, page 3

Business Activity Ratio ......................................................................... E ....................................... IA 1120, page 3

Minimum Tax ......................................................................................... IA 4626 ............................ IA 1120, page 4

Minimum Tax Credit and Carryforward Worksheet ............................ IA 8827 ............................ IA 1120, page 4

ADDITIONAL SCHEDULES AND FORMS INDEX

NAME .................................................................................................... SCHEDULE ................... FORM NO.

Power of Attorney .............................................................................................................................. 14-101

Net Operating Loss Carryover .............................................................. F ........................................ 42-020

Alternative Minimum Tax Loss Carryover .......................................... G ....................................... 42-020

Computation of Federal Refund/Deduction ......................................... H ....................................... 42-021a

IA 851 Affiliations ................................................................................. I ......................................... 42-022a

Consolidated Business Activity Ratio .................................................. J ........................................ 42-022b

Corporation Income Tax Payment Voucher ..................................................................................... 42-019

IA 4562A Depreciation Adjustment Schedule ................................................................................. 41-105

IA 1120X Amended Corporation Income Tax Return ..................................................................... 42-024

IA 1139-CAP Application for Refund Due to the Carryback of Capital Losses ..........................42-026

1120ES Corporation Estimated Tax Return and Instructions ......................................................... 45-004 & 45-010

IA 2220 Underpayment of Estimated Tax by Corporations ........................................................... 45-006

IA 1120S Income Tax Return for S Corporations ........................................................................... 42-004

IA 148 Tax Credits Schedule ............................................................................................................ 41-148

To obtain copies of schedules and forms...

Internet:

E-mail: iowataxforms@iowa.gov

To talk to a tax specialist...

515/281-3114 (Des Moines, out of state) or 1-800-367-3388 (Iowa, Omaha, Rock Island, Moline only)

Hours: 8 a.m. - 4 p.m, Monday - Friday.

42-002 (09/17/12)

Instructions For Form Ia 1120 - Iowa Corporation Income Tax Long Form - 2012

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