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Iowa Free Printable Microsoft Word - IA6251B(41135) for 2022 Iowa Balance Sheet or Statement of Net Worth 41-135

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Balance Sheet or Statement of Net Worth 41-135
Microsoft Word - IA6251B(41135)

IA 6251B Balance Sheet/Statement of Net Worth tax.iowa.gov  This form can be used for any tax year. Name(s): Social Security number: Net worth calculation date: Check one: Accrual Cash Part A: Assets 1. Total cash ............................................................................................................ 1.   2. Securities ............................................................................................................. 2.   3. Pensions, IRAs, and Social Security benefits ................................................. 3.   4. Insurance policies ............................................................................................... 4.   5. Accounts receivable............................................................................................ 5.   6. Inventory .............................................................................................................. 6.   7. Real property ....................................................................................................... 7.   8. Machinery and equipment.................................................................................. 8.   9. Vehicles................................................................................................................ 9.   10. Other personal property .................................................................................... 10.   11. Total assets. Add lines 1-10 ................................................................................. 11. 0  Part B: Liabilities 12. Current liabilities ................................................................................................ 12.   13. Long-Term liabilities........................................................................................... 13.   14. Accrued taxes ..................................................................................................... 14.   15. Total liabilities. Add lines 12-14 ............................................................................ 15.   Part C: Net Worth 16. Total assets (line 11) less total liabilities (line 15). Subtract line 15 from line 11 ............................................................................................ 16. 0  Part D: Debt to Asset Ratio 17. Divide total liabilities (line 15) by total assets (line 11) ............................ 17. 0.00     41-135a (07/16/2020) IA 6251B Instructions  Complete each section as instructed below. Be sure to include the personal and business assets and liabilities of both spouses. IA 6251B should be completed by those eliminating the distressed sale transaction from net income and those limiting their tax liability to their net worth. Note: The balance sheet should be completed on the basis of the accounting method (cash or accrual) used by the taxpayer. Part A: Assets Line 1: Total cash Include the balance of your cash accounts, both personal and business, such as: • checking accounts • savings accounts • certificate of deposit accounts • credit union accounts Line 2: Securities Include the current value of all your stocks, bonds, notes, etc. Line 3: Pensions, IRAs, and Social Security benefits Include the current value of the following: • pensions • annuities • individual retirement accounts • Social Security benefits • Railroad Retirement benefits Line 4: Insurance policies Include the current value of all life insurance policies. Line 5: Accounts receivable Include the total of any money due to you, both personal and business. Line 6: Inventory Include the market value of all inventory including crops, livestock, other farm animals, and poultry. Line 7: Real property Include the market value of any real estate, both personal and business. Line 8: Machinery and equipment Include the market value of all machinery and equipment. Line 9: Vehicles Include the current retail value of all vehicles. Include all cars, trucks, recreational vehicles, motorcycles, etc. Line 10: Other personal property Include the following: • current market value of all household appliances, such as washer, dryer, refrigerator, television, stereo, stove, etc. • current market value of all furniture, such as beds, dressers, sofa, chairs, dining room set, antiques, etc. • current market value of all kitchen items, such as silverware, coffee maker, china, pots and pans, etc. • current market value of all other household items, such as paintings, pictures, musical instruments, firearms, jewelry, collectibles, etc. Part B: Liabilities Line 12: Current liabilities Include the current balance of all your accounts owed, both personal and business, such as: • bank card account balances • gasoline credit card balances • other charge card balances • other credit or installment balances • total of any loans (insurance loans, vehicle loans, loans for seed, fertilizer, supplies, etc.) • charges for dental or medical care Line 13: Long-Term liabilities Include the following: • real estate transactions • mortgages • installment obligations • long-term loans (over one year) 41-135b (07/16/2020)
Extracted from PDF file 2020-iowa-form-ia-6251b.pdf, last modified July 2020

More about the Iowa Form IA 6251B Individual Income Tax

We last updated the Balance Sheet or Statement of Net Worth 41-135 in March 2021, and the latest form we have available is for tax year 2020. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Iowa Department of Revenue. You can print other Iowa tax forms here.


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Other Iowa Individual 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
IA 104-Wkst Itemized Deduction Worksheet
Form IA 1040 Individual Income Tax Return
IA 1040-A Form 1040 Schedule A (Itemized Deductions)
IA 1040 Table IA 1040 Tax Tables
Form 54-132 Statement of Rent Paid (Rent Reimbursement Claim)

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 6251B from the Department of Revenue in March 2021.

Show Sources >

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Iowa Form IA 6251B

We have a total of ten past-year versions of Form IA 6251B in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form IA 6251B

Microsoft Word - IA6251B(41135)

2019 Form IA 6251B

IA 6251B balance sheet/statement of net worth, 41135

2018 Form IA 6251B

IA 6251B balance sheet/statement of net worth, 41135

2017 Form IA 6251B

IA 6251B balance sheet/statement of net worth, 41135

2016 Form IA 6251B

IA 6251B balance sheet/statement of net worth, 41135

Balance Sheet or Statement of Net Worth 41-135 2015 Form IA 6251B

IA 6251B, Balance Sheet/Statement of Net Worth

Balance Sheet or Statement of Net Worth 41-135 2014 Form IA 6251B

2014 IA 6251B, Balance Sheet/Statement of Net Worth

Balance Sheet or Statement of Net Worth 41-135 2013 Form IA 6251B

Iowa 6251B balance sheet/statement of net worth

2012 Form IA 6251B

Iowa 6251B balance sheet/statement of net worth

2011 Form IA 6251B

Iowa 6251B balance sheet/statement of net worth


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