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Iowa Free Printable IA 100F Iowa Capital Gain Deduction - ESOP, 41-160 for 2024 Iowa Capital Gain Deduction 41-160

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Capital Gain Deduction 41-160
IA 100F Iowa Capital Gain Deduction - ESOP, 41-160

2023 IA 100F Iowa Capital Gain Deduction – ESOP tax.iowa.gov Name(s):_____________________________________ Social Security Number: __________________ This form is only used for installment sales occurring prior to January 1, 2023. Part I: Details of Sale 1. Did the sale occur prior to January 1, 2023? No ☐ ....... Sale is not eligible for Iowa capital gain deduction. Stop. Yes ☐ ....... Continue to Part I, line 2 2. Is the capital gain from an installment sale? No ☐ ....... Sale is not eligible for Iowa capital gain deduction. Stop. Yes ☐ ....... Enter the installment sale information: a. Start date (mm/dd/yyyy): _________________ b. End date (mm/dd/yyyy): __________________ c. Total capital gain to be received by taxpayer over the life of the installment sale .................................... $ ____________ d. Total capital gain deduction claimed in prior years .... $ ____________ e. Capital gain received by the taxpayer in the current tax year ............... $_____________ Part II: Sale of Employer Securities to a Qualified Iowa Employee Stock Ownership Plan (ESOP) 1. Name of Iowa corporation: _______________________________________________________ Note: A limited liability company (LLC) is not considered to be an Iowa corporation for the purposes of this deduction. 2. Does the qualified Iowa ESOP own at least 30% of all outstanding employer securities issued by the Iowa corporation? No ☐ ...... Sale is not eligible for Iowa capital gain deduction. Stop. Yes ☐ ...... Continue to Part III, line 1 Part III: Details of Property Sold 1. Were the employer securities sold Iowa corporation stock? No ☐ ...... Sale is not eligible for Iowa capital gain deduction under sale of employer securities to a qualified Iowa ESOP. Stop. Yes ☐ ...... Continue to Part III, line 2 2. Are you the sole owner of the employer securities? Married filers, see instructions. No ☐ ...... Continue to Part III, line 3 Yes ☐ ...... Enter 100% on Part III, line 3 3. Enter taxpayer’s ownership percentage of the total employer securities sold to the nearest one tenth of one percent (for example 65.2%)............... 3. _____________ % 4. Provide all other owner name(s): ____________________________________________________ ______________________________________________________________________________ 5. Provide the name of the qualifying Iowa ESOP: ________________________________________ ______________________________________________________________________________ 6. Iowa capital gain deduction. Multiply Part I, line 2e by 50% (.5). Enter the amount here and include on IA 1040 Schedule 1, line 16 ............ 6. $ ______________ 41-160a (08/17/2023) 2023 IA 100F Instructions, page 1 Instructions for 2023 IA 100F – Iowa Capital Gain Deduction Sale of Employer Securities to a Qualified Iowa ESOP What’s New: The IA 100F should only be used for installment sales occurring before January 1, 2023. Under tax reform passed in 2018 and 2019, and modified during the 2021 and 2022 legislative sessions, the Iowa capital gain deduction is repealed for most transactions occurring on or after January 1, 2023. This repeal applies to all sales except: 1. Certain sales of real property used in a farming business 2. Sales of cattle or horses held for breeding, draft, dairy, or sporting purposes by a retired farmer who has sold all or substantially all of their interest in the farming business 3. Sales of breeding stock, other than cattle or horses, by a retired farmer who has sold all or substantially all of their interest in the farming business Deductions for previously eligible installment sales will still be allowed if the sale occurred prior to January 1, 2023. The Iowa capital gain deduction is subject to review by the Iowa Department of Revenue. The Department will use this form to verify that the taxpayer(s) qualifies for the deduction. The Department may request additional information if needed. This completed form must be included with the IA 1040 to support the Iowa capital gain deduction claimed. Complete a separate IA 100F for each sale to a qualified Iowa ESOP. Complete the form each year of a qualifying installment sale, including all parts. For taxpayers filing separately, each spouse must complete an IA 100F for the Iowa capital gain deduction claimed based on the spouse’s ownership percentage in the employer securities. Flowcharts to assist in determining if a gain qualifies are also available on the Department’s website. For more information on the Iowa capital gain deduction, see the instructions below and Iowa Administrative Code rule 701— 302.38 (2022). Part I: Details of Sale Line 1: Check the box to indicate whether the sale occurred prior to January 1, 2023. Line 2: Check the box to indicate whether capital gain comes from an installment sale. If “Yes,” enter the date of the first installment, the expected date of the final installment, the total capital gain generated by the sale, the total capital gain deduction claimed in prior years, and the capital gain the taxpayer received during tax year 2023. Do not include any interest received. Part II: Sale of Employer Securities to a Qualified Iowa Employee Stock Ownership Plan (ESOP) Line 1: Enter the name of the Iowa corporation whose employer securities the taxpayer sold. Note: A limited liability company (LLC) is not considered to be an Iowa corporation for the purposes of this deduction. In addition, an Iowa corporation is a corporation whose commercial domicile is in Iowa. Line 2: Check the box to indicate whether, upon completion of the sale, the qualified Iowa ESOP owned at least 30% of all outstanding employer securities issued by the Iowa corporation entered in Part II, line 1. Part III: Details of Property Sold Line 1: Check the box to indicate whether the employer securities sold were Iowa corporation stock. Line 2: If married filing jointly and both spouses are the only owners, check yes. If married filing separately and both spouses are owners, check no; each spouse must complete an IA 100F and indicate on line 3 the separate ownership percentage of that spouse. Line 3: Enter the taxpayer’s ownership percentage of the employer securities sold at the time of the sale to the nearest one tenth of one percent (for example: 50.0%; 33.3%). If not the sole owner, the taxpayer’s ownership percentage must be less than 100% and greater than 0%. 41-160b (08/08/2023) 2023 IA 100F Instructions, page 2 Line 4: Enter the names of all persons and entities that owned the employer securities at the time of sale. If the capital gain flowed through to the taxpayer from a partnership, S corporation, LLC, estate, or trust, all owners of the entity must be reported. Line 5: Enter the name of the qualifying Iowa ESOP. Line 6: Enter the amount of the taxpayer’s capital gain deduction claimed, 50% of Part I, line 2e. Note that the deduction applies to the net capital gain from a sale. Any nonrecaptured losses are treated as ordinary income and are not eligible for the Iowa capital gain deduction. The eligibility of the Iowa capital gain deduction reported here may be subject to further examination by the Department. 41-160c (07/31/2023)
Extracted from PDF file 2023-iowa-form-ia-100f.pdf, last modified September 2020

More about the Iowa Form IA 100F Corporate Income Tax TY 2023

We last updated the Capital Gain Deduction 41-160 in February 2024, so this is the latest version of Form IA 100F, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IA 100F directly from TaxFormFinder. You can print other Iowa tax forms here.


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Other Iowa Corporate Income Tax Forms:

TaxFormFinder has an additional 43 Iowa income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IA 1120S Shhedule K-1 Schedule K-1 - Shareholder’s Share of Iowa Income, Deductions, Modifications
Form IA 148 Tax Credits Schedule 41-148
Form IA 1041V Iowa Fiduciary Income Tax Payment Voucher
Form IA 1065 Iowa Partnership Return of Income 41-016
Form IA 1041 Fiduciary Return 63-001

Download all IA tax forms View all 44 Iowa Income Tax Forms


Form Sources:

Iowa usually releases forms for the current tax year between January and April. We last updated Iowa Form IA 100F from the Department of Revenue in February 2024.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Iowa Form IA 100F

We have a total of nine past-year versions of Form IA 100F in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form IA 100F

IA 100F Iowa Capital Gain Deduction - ESOP, 41-160

2022 Form IA 100F

IA 100F Iowa Capital Gain Deduction - ESOP, 41-160

2021 Form IA 100F

IA 100F Iowa Capital Gain Deduction - ESOP, 41-160

2020 Form IA 100F

IA 100F Iowa Capital Gain Deduction - ESOP, 41-160

2019 Form IA 100F

IA 100F Iowa Capital Gain Deduction - ESOP, 41-160

2018 Form IA 100F

IA 100F Iowa Capital Gain Deduction - ESOP, 41-160

2017 Form IA 100F

IA 100 - Before You Complete the Applicable IA 100 Iowa Capital Gain Deduction Form, 41-160

2016 Form IA 100F

IA 100 Iowa Capital Gain Deduction

Capital Gain Deduction 41-160 2015 Form IA 100F

IA 100 Iowa Capital Gain Deduction


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