Iowa Free Printable IA 4562 and IA 4562B Iowa Depreciation Adjustment schedule for 2017 Iowa Iowa Depreciation Accumulated Adjustment Schedule

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Iowa Depreciation Accumulated Adjustment Schedule
IA 4562 and IA 4562B Iowa Depreciation Adjustment schedule

2016 IA 4562A Iowa Depreciation Adjustment Schedule https://tax.iowa.gov Include this form with your Iowa income tax return. Name(s) SSN or FEIN Pass-Through Entity (if applicable) Pass-Through FEIN Part I - Computation of Iowa depreciation adjustment A. Description B. Date C. Life of D. Cost or of Property Placed in Asset Other Service Basis E. Federal 179 F. Federal Expense Depreciation Deduction G. Accumulated Federal Depreciation H. Iowa 179 Expense I. MACRS Iowa Depreciation Deduction J. Accumulated Iowa Depreciation Total amounts in columns E, F, H, and I Part II – Disposition adjustments If you have disposed of bonus depreciation or section 179 property, and an Iowa depreciation adjustment was applied to this property in a prior year, continue with Part II; otherwise, skip to Part III. A. Description of Property Sold or Disposed B. Date Placed in Service- C. Date Sold or Disposed mo/day/yr D. Total Iowa Depreciation E. Total Federal + Sec. 179 expense Depreciation + Sec. taken 179 Expense Taken F. Adjustment (subtract column E from column D) Total amounts in column F Part III - Summary of adjustments to net income 1. Enter the sum of amounts from Part 1, columns E and F ............................... 1. 2. Enter the sum of amounts from Part 1, columns H and I ................................ 2. 3. Adjustment to depreciation. Subtract line 2 from line 1 .................................. 3. 4. Enter the amount from Part II, column F ......................................................... 4. 5. Add lines 3 and 4. This amount must be reported on your tax return. See table in Part III of the instructions for specific form and line references... 5. 41-105a (06/01/16) 2016 IA 4562A Instructions This form must be completed if taxpayer:  Claimed the 30% bonus depreciation deduction for assets acquired after September 10, 2001, but before May 6, 2003, under the Job Creation and Worker Assistance Act of 2002.  Claimed bonus depreciation on federal form 4562, Depreciation and Amortization; federal form 2106, Employee Business Expenses; Schedule C, Profit or Loss from Business; Schedule F, Profit or Loss from Farming, or any other federal form where depreciation was deducted.  Disposed of bonus depreciation property during the tax year, and Iowa depreciation adjustments were made to the property in previous tax years.  Claimed 50% bonus depreciation for assets acquired after May 5, 2003, but before January 1, 2005, for federal tax purposes, but chose not to claim this for Iowa tax purposes.  Claimed 50% or 100% bonus depreciation for assets acquired after December 31, 2007, but before January 1, 2017, for federal tax purposes.  Claimed the federal section 179 expense in excess of $25,000 for tax years beginning on or after January 1, 2003, but beginning before January 1, 2006, and the taxpayer chose to claim no more than $25,000 for Iowa tax purposes.  Claimed the federal section 179 expense in excess of $133,000 for tax years beginning on or after January 1, 2009, but before January 1, 2010.  Claimed 5-year depreciation on certain new farming machinery and equipment purchased in 2009. Note: Farming machinery and equipment must be depreciated over a 7-year period for Iowa purposes.  Claimed the federal section 179 expense in excess of $25,000 for tax years beginning on or after January 1, 2016. PART I List each item of property falling within the parameters listed above. A separate schedule can be included listing all qualifying property. Grouping of assets by class is also permitted. For example, all 3-year assets or all 5-year assets, etc., may be grouped together. If assets are grouped, the taxpayer is responsible to maintain all records necessary to support how each item was grouped. Compute the amount of federal depreciation using the bonus depreciation method and the amount of Iowa depreciation using the MACRS method without any bonus depreciation and using a limit of $25,000 on section 179 property, if applicable. Total the amount of the federal depreciation in columns E and F and the Iowa depreciation in columns H and I and enter on Part III of the form. The accumulated depreciation amount in columns G and J should include the total amounts of depreciation and section 179 expense for the life of the asset(s). Note: If you have not sold or disposed of any bonus depreciation property, you may skip Part II of this form. PART II For each item of property listed, determine the difference between federal depreciation and Iowa MACRS depreciation used in the computation of federal and Iowa taxable income in prior and current years. If you sold or disposed of bonus depreciation property this year, and the Iowa depreciation adjustment was applied to the property in any prior years, you must make the applicable depreciation catch-up adjustment to adjust the basis of the property for Iowa purposes. A separate schedule can be attached listing all qualifying sales or dispositions, and grouping of assets by class is also permitted as described in Part I. Total the amount in column F and enter on Part III of the form. PART III Compute the net adjustment using Part I and Part II. Enter the amount from line 5 on the applicable Iowa form as noted below. For Iowa Form: 1040 Enter positive amounts from line 5 on: Other income, line 14 Enter negative amounts from line 5 on: Other income, line 14 1041 Other income, line 8 Other income, line 8 1065 Part III, line 3 Part III, line 6 1120 Schedule A, depreciation adj., line 8 Schedule A, depreciation adj., line 8 1120S Part III, line 3 Part III, line 7 1120F Schedule A, line 5 Schedule D, line Continue to form IA 4562B, Iowa Depreciation Accumulated Adjustment Schedule. 41-105b (02/16/17) 2016 IA 4562B Iowa Accumulated Depreciation Adjustment Schedule https://tax.iowa.gov Name(s) SSN/FEIN ____________________________ Pass-Through Entity (if applicable) Pass-Through FEIN Note: Use this form to record the cumulative effect of the Bonus Depreciation Adjustment computed on form IA 4562A. Tax Period Ending Date IA 4562A Adjustment Amount from Part III, Line 5 Balance Instructions Tax Period Ending Date: Start with the tax period that you first made an adjustment for bonus depreciation or section 179 expensing on the Iowa return. Continue entering each subsequent tax period up to, and including, the current period. IA 4562A Adjustment: Enter the amount added/deducted on the Iowa return for each tax period. This should be the amount entered in Part III, line 5 of the IA 4562A. Enter negative numbers in parenthesis. Place an asterisk (*) after the tax period if the IA 4562A adjustment was changed from the amount originally claimed. You must provide copies of the prior tax periods’ IA 4562As if requested by the Department. Failure to provide copies of the prior tax periods’ IA 4562As will delay the processing of your return or cause the denial of your adjustment. Do not send copies of the asset listings that are required with the IA 4562A. Balance: The balance amount for the first tax period should be the same as the amount of the adjustment. For each subsequent tax period, the balance amount should be changed by the amount of that tax period’s IA 4562A adjustment. Include this form with your IA tax return 41-105c (02/16/17)
Extracted from PDF file 2016-iowa-form-ia-4562b.pdf, last modified July 2016

More about the Iowa Form IA 4562B Corporate Income Tax TY 2016

We last updated the Iowa Depreciation Accumulated Adjustment Schedule in February 2017, so this is the latest version of Form IA 4562B, fully updated for tax year 2016. You can download or print current or past-year PDFs of Form IA 4562B directly from TaxFormFinder. You can print other Iowa tax forms here.

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 1120 Iowa Corporation Income Tax Return
Form IA 130 Out-of-State Tax Credit 41-130
Form IA 147 Franchise Tax Credit 41-147
Form IA 4136 Computation of Iowa Motor Fuel Tax Credit 41-036
Form IA 128 Iowa Research Activities Credit 41-128

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 4562B from the Department of Revenue in February 2017.

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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 4562B

We have a total of six past-year versions of Form IA 4562B in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Form IA 4562B

IA 4562 and IA 4562B Iowa Depreciation Adjustment schedule

Iowa individual income tax 2015 Form IA 4562B

IA 4562B Iowa Depreciation Accumulated Adjustment Schedule, 41-106

Iowa Depreciation Accumulated Adjustment Schedule Prior Years 41-106 2014 Form IA 4562B

IA 4562B, Iowa Depreciation Accumulated Adjustment Schedule

Iowa individual income tax 2013 Form IA 4562B

Iowa Depreciation Accumulated Adjustment Schedule IA 4562B

Iowa individual income tax 2012 Form IA 4562B

Iowa Depreciation Accumulated Adjustment Schedule IA 4562B

Iowa individual income tax 2011 Form IA 4562B

Iowa Depreciation Accumulated Adjustment Schedule IA 4562B


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