Form Ia 2210 - Schedule Ai - Annualized Income Installment Method - 2012 Page 3
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35. Add the credits from lines 16 and 17 of Schedule AI that represent lines 47 and 48 of form IA 1040.
Enter this figure on line 31 of form IA 126.
6. Compute the nonresident/part-year resident credit by subtracting the credits on line 31 of form IA 126
from the tax on line 30 of form IA 126. Multiply this figure by the percentage on line 29. Enter this
number on line 17 of Iowa Schedule AI.
Please enclose a worksheet or tax form showing the calculations for each credit claimed on line 17.
The IA 148 Tax Credits Schedule must be enclosed if any credits are claimed from line 53.
Line 18 – Enter the credits from your IA 1040, lines 62, 63, 64, 65, and 66 that you are entitled to because of
events that occurred during the months shown in the column headings. Do not annualize any credit. However, when
figuring your credits, you must annualize any item of income or deduction used to figure the credit.
Out-of-state tax credit form IA 130 must be computed for each period. The gross income taxed by the other state/
country, line 1 of the IA 130, must be annualized by multiplying by the annualization factor for the period. The
gross income for residents, line 2 of the IA 130, is the amount on line 3 of the Iowa Schedule AI (if a part-year
resident, the amount is taken from line 15 of the IA 126) for the period. The tax, line 4 of the IA 130, is the amount
on line 13 of Iowa Schedule AI for the period. The total tax imposed by the other state/country must be multiplied
by a ratio of gross income taxed by the other state/country for the period to total gross income taxed by other state/
country. Example: Fred, a full-year resident, had $100,000 of income taxed by another state. The other state’s tax
imposed was $4,000 for the year. For the period 1/1/12 to 3/31/12, the income taxed by the other state was $25,000.
The computation for the tax imposed for the period 1/1/12 to 3/31/12 is ($4,000 times the annualization factor of
4.0
25,000/100,000).
X
Please enclose a worksheet or tax form showing the calculations for each credit claimed on line 18.
The IA 148 Tax Credits Schedule must be enclosed if any credits are claimed from line 66.
Line 28 – Enter these amounts on line 12, form IA 2210.
45-011c (08/10/12)
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