Line 16: Capital Gains Deduction

You must complete and include the applicable IA 100 with your return to claim the Iowa capital gain deduction. In addition to the instructions and guidance found in the applicable IA 100, flowcharts to assist in determining if a gain qualifies can be found on the Department’s website.

Married Separate Filers: Divide the capital gain deduction based on ownership of the asset.

Jointly held: Divide equally between spouses.

If other than jointly held: Divide between spouses based on percentage of ownership.

Each spouse must file a separate form of the applicable IA 100.