Chapter 40. DETERMINATION OF NET INCOME  


Section 701.40.1. Net income defined.
Section 701.40.2. Interest and dividends from federal securities.
Section 701.40.3. Interest and dividends from foreign securities and securities of state and other political subdivisions.
Section 701.40.4. Certain pensions, annuities and retirement allowances.
Section 701.40.5. Military pay.
Section 701.40.6. Interest and dividend income.
Section 701.40.7. Current year capital gains and losses.
Section 701.40.8. Gains and losses on property acquired before January 1, 1934.
Section 701.40.9. Work opportunity tax credit and alcohol and cellulosic biofuel fuels credit.
Section 701.40.10. Exclusion of interest or dividends.
Section 701.40.11. Two-earner married couple deduction.
Section 701.40.12. Income from partnerships or limited liability companies.
Section 701.40.13. Subchapter “S” income.
Section 701.40.14. Contract sales.
Section 701.40.15. Reporting of incomes by married taxpayers who file a joint federal return but elect to file separately for Iowa income tax purposes.
Section 701.40.16. Income of nonresidents.
Section 701.40.17. Income of part-year residents.
Section 701.40.18. Net operating loss carrybacks and carryovers.
Section 701.40.19. Casualty losses.
Section 701.40.20. Adjustments to prior years.
Section 701.40.21. Additional deduction for wages paid or accrued for work done in Iowa by certain individuals.
Section 701.40.22. Disability income exclusion.
Section 701.40.23. Social security benefits.
Section 701.40.24. Lottery prizes.
Section 701.40.25. Certain unemployment benefits received in 1979.
Section 701.40.26. Contributions to the judicial retirement system.
Section 701.40.27. Incomes from distressed sales of qualifying taxpayers.
Section 701.40.28. Losses from passive farming activities.
Section 701.40.29. Intangible drilling costs.
Section 701.40.30. Percentage depletion.
Section 701.40.31. Away-from-home expenses of state legislators.
Section 701.40.32. Interest and dividends from regulated investment companies which are exempt from federal income tax.
Section 701.40.33. Partial exclusion of pensions and annuities for retired and disabled public employees.
Section 701.40.34. Exemption of restitution payments for persons of Japanese ancestry.
Section 701.40.35. Exemption of Agent Orange settlement proceeds received by disabled veterans or beneficiaries of disabled veterans.
Section 701.40.36. Exemption of interest earned on bonds issued to finance beginning farmer loan program.
Section 701.40.37. Exemption of interest from bonds issued by the Iowa comprehensive petroleum underground storage tank fund board.
Section 701.40.38. Capital gain deduction or exclusion for certain types of net capital gains.
Section 701.40.39. Exemption of interest from bonds or notes issued to fund the E911 emergency telephone system.
Section 701.40.40. Exemption of active-duty military pay of national guard personnel and armed forces reserve personnel received for services related to operation desert shield.
Section 701.40.41. Disallowance of private club expenses.
Section 701.40.42. Depreciation of speculative shell buildings.
Section 701.40.43. Retroactive exemption for payments received for providing unskilled in-home health care services to a relative.
Section 701.40.44. Individual development accounts.
Section 701.40.45. Exemption for distributions from pensions, annuities, individual retirement accounts, or deferred compensation plans received by nonresidents of Iowa.
Section 701.40.46. Taxation of compensation of nonresident members of professional athletic teams.
Section 701.40.47. Partial exclusion of pensions and other retirement benefits for disabled individuals, individuals who are 55 years of age or older, surviving spouses, and survivors.
Section 701.40.48. Health insurance premiums deduction.
Section 701.40.49. Employer social security credit for tips.
Section 701.40.50. Computing state taxable amounts of pension benefits from state pension plans.
Section 701.40.51. Exemption of active-duty military pay of national guard personnel and armed forces military reserve personnel for overseas services pursuant to military orders for peacekeeping in the Bosnia-Herzegovina area.
Section 701.40.52. Mutual funds.
Section 701.40.53. Deduction for contributions by taxpayers to the Iowa educational savings plan trust and addition to income for refunds of contributions previously deducted.
Section 701.40.54. Roth individual retirement accounts.
Section 701.40.55. Exemption of income payments for victims of the Holocaust and heirs of victims.
Section 701.40.56. Taxation of income from the sale of obligations of the state of Iowa and its political subdivisions.
Section 701.40.57. Installment sales by taxpayers using the accrual method of accounting.
Section 701.40.58. Exclusion of distributions from retirement plans by national guard members and members of military reserve forces of the United States.
Section 701.40.59. Exemption of payments received by a beneficiary from an annuity purchased under an employee’s retirement plan when the installment has been included as part of a decedent employee’s estate.
Section 701.40.60. Additional first-year depreciation allowance.
Section 701.40.61. Exclusion of active duty pay of national guard members and armed forces military reserve members for service under orders for Operation Iraqi Freedom, Operation Noble Eagle, Operation Enduring Freedom or Operation New Dawn.
Section 701.40.62. Deduction for overnight expenses not reimbursed for travel away from home of more than 100 miles for performance of service as a member of the national guard or armed forces military reserve.
Section 701.40.63. Exclusion of income from military student loan repayments.
Section 701.40.64. Exclusion of death gratuity payable to an eligible survivor of a member of the armed forces, including a member of a reserve component of the armed forces who has died while on active duty.
Section 701.40.65. Section 179 expensing.
Section 701.40.66. Deduction for certain unreimbursed expenses relating to a human organ transplant.
Section 701.40.67. Deduction for alternative motor vehicles.
Section 701.40.68. Injured veterans grant program.
Section 701.40.69. Exclusion of ordinary or capital gain income realized as a result of involuntary conversion of property due to eminent domain.
Section 701.40.70. Exclusion of income from sale, rental or furnishing of tangible personal property or services directly related to production of film, television or video projects.
Section 701.40.71. Exclusion for certain victim compensation payments.
Section 701.40.72. Exclusion of Vietnam Conflict veterans bonus.
Section 701.40.73. Exclusion for health care benefits of nonqualified tax dependents.
Section 701.40.74. Exclusion for AmeriCorps Segal Education Award.
Section 701.40.75. Exclusion of certain amounts received from Iowa veterans trust fund.
Section 701.40.76. Exemption of active duty pay for armed forces, armed forces military reserve, or the national guard.
Section 701.40.77. Exclusion of biodiesel production refund.
Section 701.40.78. Allowance of certain deductions for 2008 tax year.
Section 701.40.79. Special filing provisions related to 2010 tax changes.
Section 701.40.80. Exemption for military retirement pay.
Section 701.40.81. Iowa ABLE savings plan trust.