Form 130 - Iowa Out-Of-State Tax Credit Schedule - 2015
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1Iowa Department of Revenue
https://tax.iowa.gov
2015 IA 130
Iowa Out-of-State Tax Credit Schedule
Name(s) shown on return
Social Security Number
General Instructions:
Include the following with this form when
Also see instructions for line 50, IA 1040.
filing your IA 1040:
Nonresidents of Iowa may NOT claim this credit.
The income tax return you filed with the other state.
Part-year residents of Iowa may claim this credit only if any income earned
If you are claiming the credit for taxes paid to a foreign
while an Iowa resident was also taxed by another state or foreign country.
country, include federal form 1116, Foreign Tax Credit,
The tax imposed on your income is the tax shown on the income tax return
if it is required with your federal return.
you filed with that state or foreign country.
If you were assessed an alternative minimum tax or a
You must complete a separate IA 130 for each state or foreign country.
special tax on a lump-sum distribution by another state, see
Separate IA 130s are not required for foreign taxes paid by mutual funds or
our Expanded Instructions on the Department’s website
other regulated investment companies.
(https://tax.iowa.gov).
Note: The credit or portion of the credit must not exceed the amount of the Iowa
tax imposed on the same income that was taxed by the other state or foreign
country.
Shareholders of S corporations who have income from the corporation that was
Name of State/Country that taxed income also taxed by
apportioned outside Iowa and not taxed by Iowa cannot claim an out-of-state
Iowa:
Spouse:
You:
credit on this income.
Column B
Column A
Section I – Full-Year Residents Only
Spouse/Status 3
You or Joint
1. Amount of gross income you received that was taxed by Iowa and taxed by the other
1.
.00
▲
.00
state/foreign country ...........................................................................................................
2. Gross taxable income for residents from line 15, IA 1040 ...................................................
2.
.00
.00
3. Divide line 1 by line 2 and enter the percentage rounded to the nearest tenth of a percent.
3.
%
%
Do not exceed 100.0% .......................................................................................................
4. Tax from line 49, IA 1040, less lump-sum and alternative minimum tax ..............................
4.
.00
.00
5. Multiply line 4 by the percentage on line 3 ..........................................................................
5.
.00
.00
6. Enter the tax imposed by the other state or foreign country ................................................
6.
.00
▲
.00
7. Enter the smaller of lines 5 or 6. This is your Out-of-State Tax Credit. Enter this amount
7.
.00
.00
on line 50, IA 1040 .............................................................................................................
Column B
Column A
Section II – Part-Year Iowa Residents Only
Spouse/Status 3
You or Joint
1. Amount of gross income you received while you were an Iowa resident that was taxed
1.
.00
▲
.00
by Iowa and taxed by the other state/foreign country ......................................................
2.
.00
.00
2. Gross taxable income for part-year residents from line 15, IA 126 ..................................
3. Divide line 1 by line 2 and enter the percentage rounded to the nearest tenth of a
3.
%
%
percent. Do not exceed 100.0% ......................................................................................
4.
.00
.00
4. Tax from line 49, IA 1040, less lump-sum and alternative minimum tax ..........................
5.
.00
.00
5. Multiply line 4 by the percentage on line 3 ......................................................................
6.
.00
▲
.00
6. Enter the tax imposed by the other state or foreign country ............................................
7.
.00
▲
.00
7. Enter the total amount of gross income taxed by the other state/foreign country .............
8. Divide line 1 by line 7 and enter percentage rounded to the nearest tenth of a percent.
8.
%
%
Do not exceed 100.0% ...................................................................................................
9.
.00
.00
9. Multiply line 6 by the percentage on line 8 ......................................................................
10. Enter the smaller of lines 5 or 9. This is your Out-of-State Tax Credit. Enter this smaller
10.
.00
.00
amount on line 50, IA 1040 .............................................................................................
41-130 (08/05/2015)
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