Iowa Tax Credits

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How is the Iowa Trust Fund Tax Credit Calculated?

By | February 19th, 2016|Categories: State Taxes|Tags: , , , |

The Iowa Trust Fund Tax Credit is a non-refundable Iowa tax credit that first appeared on 2013 tax returns. This post delves into how the state determines how big the credit is from year to year.

The Iowa School Tuition Organization Tax Credit

By | September 30th, 2015|Categories: Potpourri of Tax Topics|Tags: , , , |

Image courtesy of user jarmoluk on Pixabay.com Iowa offers dozens of obscure tax credits. The one I get asked about most is the tax credit available for donations to a "school tuition organization" or STO. Here's how the Iowa Department of Revenue defines an STO: A school tuition organization must be a charitable organization [...]

Iowa Adoption Credit and Special-Needs Adoptions

By | June 22nd, 2015|Categories: State Taxes|Tags: , , |

The Iowa Adoption Credit is available for Iowans who adopt children. But the rules for how big the deduction is are different from the federal rules.

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Iowa Adoption Credit and Deduction

By | April 1st, 2015|Categories: State Taxes|Tags: , , |

Iowa now offers an adoption credit on 2014 tax returns. How does it work?

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The Iowa Taxpayers Trust Fund Tax Credit

By | February 19th, 2014|Categories: State Taxes|Tags: , , , |

Something new on Iowa tax returns this year is the "Taxpayers Trust Fund Tax Credit." This credit is $54 for a single taxpayer or $108 total for a married couple. The credit is claimed on Line 64 of the Iowa Form 1040. It's pretty straightforward, but there are a few quirks: To claim the credit, you [...]