2014 ProSeries/Iowa Readme
Release 2014.260
Contents
Items addressed in this release
Items addressed in previous releases
What's new for ProSeries/Iowa
Forms
Electronic filing
Additional Information
Items addressed in this release
The following has been updated and finalized since the previous
release:
- Form IA 1040, line 18 will now include self employed health insurance from Form 1095-A linked to Schedule C, Schedule F or Schedule K-1
- Slip Sheets for estimated tax vouchers will now print, when selected
Items addressed in previous releases
The following forms and worksheets have been addressed in previous releases:
- Form IA 1040, line 18 will no longer understate taxpayer's health insurance deduction when filing status is combined separate
- Other Adjustments Statement In compliance with Iowa conforming to certain federal extender bill provisions, lines ee and ff on this statement have been reactivated for deduction of educator expenses and tuition and fees deduction for higher education
- Form 8582 Removed "Do not file" watermark and error message generated under certain situations when this form is attached to the Iowa return
- Schedule A Allow election to deduct state sales/use tax as an itemized deduction in lieu of state income tax and allow treatment of mortgage insurance premiums as qualified residence interest
- Activity Worksheet Section 179 limits have been updated to match Iowa conformity to federal limit of $500,000
- Information Worksheet Exira-Elk Horn-Kimballton will no longer generate an error message when selected for Shelby county
- Schedule IA 126 Gambling winnings will no longer be included on line 14
- Form 1040-V Ext Extension Payment Voucher
- Form IA 1040X Amended Individual Income Tax Return
- Form IA 1040XV Amended Income Tax Payment Voucher
- Form IA 2210 Underpayment of Estimated Tax
- Form IA 2210AI Annualized Income Installment Method
- Form IA 2210F Underpayment of Estimated Tax by Farmers, Fishers
- Form IA 1040ES Estimated Individual Income Tax Voucher
- Form IA 1040, line 18 Will now include insurance premiums from Form 1095-A for all filing statuses (not just married filing combined separate)
- Form 8582 Passive Activity Loss Limitations
- Form IA 6251 Iowa Minimum Tax Computation
- Form IA 3468 Iowa Investment Tax Credit
- Form IA 148 Tax Credits Schedule
- Form IA 4136 Motor Fuel Tax Credit
- Form IA 4562A Iowa Depreciation Adjustment Schedule
- Form IA 4562B Depreciation Accumulation Adjustment Schedule
- Form IA 1040, line 64 Trust Fund Credit is now limited to $15.
- Form IA 1040, Tax Tables The tax calculation previously used the tables for income up to $100K. The tables now only apply to income up to $95,600. Above that income level, tax is calculated using the rate schedule.
- Form IA 1040 Individual Income Tax Return
- Form IA 1040-V Individual Income Tax Payment Voucher
- Schedule A Itemized Deductions
- Form IA 104 Iowa Itemized Deduction Worksheet
- Schedule B Interest and Dividend Income
- Form IA 8453 Individual Income Tax Declaration for Electronic Filing
- Form IA 126 NR and PY Resident Credit
- Form IA 130 Out-of-State Credit Computation
- Pensions and IRAs Pension/Retirement Exclusion Worksheet
- Social Security Social Security Worksheet
- Other Income Other Income Statement
- Other Adjustments Other Adjustments Statement
What's new for ProSeries/Iowa
The following items are new for tax year 2014:
- Iowa Form IA 1040 Individual Income Tax Return, Line 32: Federal tax includes the tax on net investment income under Section 1411(a) of the Internal Revenue Code.
- Iowa Form IA 1040 Individual Income Tax Return, Line 45: A volunteer firefighter/EMS/reserve peace officer tax credit is increased to $100. State certified reserve peace officers are now eligible for the credit.
- Iowa Form IA 1040 Individual Income Tax Return, Line 50: The Iowa solar energy system tax credit is 60% of the federal solar energy credit, with a maximum Iowa credit for a residential installation of $5,000 and a maximum Iowa credit for a business installation of $20,000.
- Iowa Form IA 1040 Individual Income Tax Return, Line 60: The Iowa earned income tax credit is 15% of the federal earned income tax credit.
- Iowa Form IA 1040 Individual Income Tax Return, Line 61: An Iowa adoption credit is available for the first $2,500 of unreimbursed expenses related to an adoption.
- Iowa Schedule A: Taxpayer claiming adoption expenses on line 27 of the Schedule A must exclude those expenses eligible for the Adoption Tax Credit in calculating the deduction.
- Iowa Form IA 1040 Individual Income Tax Return, DUE DATE: April 30, 2015.
Forms
The Iowa Department of Revenue has approved for filing all forms and
schedules included in ProSeries/Iowa.
Electronic filing
General information for electronic filing:
You can file returns electronically with this version of ProSeries/Iowa.
Additional Information
Check all returns after printing
The Iowa Department of Revenue scans computer-generated forms to
quickly process the income tax returns it receives. To meet the requirements for
producing computer-generated forms, ProSeries is required to limit the width of
the tax information printed on forms that are scanned. In certain cases, data
you entered may be truncated. After completing a tax return, review the
information that prints (for example, mailing address information), make any
necessary changes, and reprint the return before mailing it.
Bar codes on printed state returns
Iowa uses bar codes on computer-printed tax forms. This special
formatting allows the state taxing authorities to process returns more quickly
and efficiently. On-screen, you'll see only a small representation of the bar
code on the lower-left side of the form. This image is static and does not
change based on the information in the return. However, when you print the
return, the bar code appears as a large rectangular box on the first page of the
form. The width of the bar code is constant; the height varies according to the
data in the return. In general, the more complex the return, the larger the
printed bar code.
Returns that contain special formatting may be processed at a different
location than manually prepared returns. Therefore, the filing instructions that
print with the state return may contain a mailing address that's different from
the mailing address in the package that is sent to taxpayers. Be sure to have
your clients mail their returns to the address in the filing instructions that
print with the return.
Important: Because the bar code image is a function of the data in the
tax return, it's important that you reprint the page with the bar code if
changes are made to any part of the return. Also, do not print blank copies of
the main form and prepare them manually. The Iowa taxing authority may
attempt to scan the form and reject it.
Use a recommended printer
We recommend you use a Hewlett-Packard LaserJet Series 4 or later (or 100%
compatible printer). The minimum requirement is a Hewlett-Packard LaserJet or
PCL compatible printer with 2MB of printer memory.
If you do not use a recommended printer, sometimes the two-dimensional bar
codes on some state returns do not print properly. The states still accept the
returns, but they might take longer to process.
End of ReadMe file for ProSeries/Iowa