![]() Taxpayers can deduct their entire additional federal tax paid amount on line 31. Include only the actual federal tax payments made in 2021, but DO NOT include the following:įederal income tax includes the net investment income tax on federal form 8960 and any payments made in 2020 associated with federal section 965 net tax liability. ![]() The amount of additional federal income tax paid is deductible only if Iowa income tax returns were required to be filed for the year for which the additional federal income tax was paid. Additional Tax to EnterĮnter the amount of additional federal income tax paid during 2021 for tax year 2020 and any other years before 2020. Additional Federal Tax Paid in 20 and Prior Years A. If a taxpayer has elected to pay federal section 965 net tax liability in installments for federal purposes, that taxpayer may only include the actual amount of the federal installment payment paid in 2021 in calculating the Iowa deduction for 2021.Īll federal estimated tax payments made in 2021 are divided between spouses in the same ratio as their incomes not subject to federal withholding for the 2021 tax year. However, certain amounts must be added back on line 28, including the following: Taxpayers can deduct their entire estimated payment amount on line 31. You can deduct only the federal estimated income tax payments made during calendar year 2021.įor example, include a federal estimated income tax payment for 2020 paid in January 2021, but not an estimated tax payment for 2021 paid in January 2022.įederal income tax includes the net investment income tax on federal form 8960 and any payments made in 2021 associated with federal section 965 net tax liability. ![]() You may include the credit applied from your 2020 federal income tax overpayment only if the overpayment is included on line 27. Federal Estimated Tax Payments Made in 2021Įnter the federal estimated income tax payments made in 2021. If a taxpayer has elected to pay federal section 965 net tax liability in installments for federal purposes, that taxpayer may only include the actual amount of the federal installment payment paid in 2020 in calculating the Iowa deduction for 2020.Įach spouse may claim only their own federal income tax withheld. Other additional federal taxes reported on the federal 1040, Schedule 2, line 18Īdditional Medicare tax withholding from line 24 of federal form 8959, net investment income tax from federal form 8960, and federal section 965 net tax liability payments are not added back on line 28.Recapture of low-income housing credit reported on the federal 1040, Schedule 2, line 16.Interest on the deferred tax on gain from certain installment sales with a sales price over $150,000 reported on the federal 1040, Schedule 2, line 15.Interest on tax due on installment income from the sale of certain residential lots and timeshares reported on the federal 1040, Schedule 2, line 14.Uncollected social security and Medicare or RRTA tax on tips or group-term life insurance from Form W-2, box 12, reported on the federal 1040, Schedule 2, line 13.Additional Medicare tax from federal form 8959 reported on the federal 1040, Schedule 2, line 11.Repayment of first-time homebuyer credit reported on the federal 1040, Schedule 2, line 10.Federal household employment taxes reported on the federal 1040, Schedule 2, line 9.Additional tax on IRAs or other tax-favored accounts reported on the federal 1040, Schedule 2, line 8. ![]() Total additional Social Security and Medicare tax reported on the federal 1040, Schedule 2, line 7.Federal self-employment tax reported on the federal 1040, Schedule 2, line 4.Excess advance premium tax credit repayment reported on the federal 1040, Schedule 2, line 2.Taxpayers can deduct their entire withholding amount on line 31. The additional Medicare tax withholding is included on line 31. Federal Tax WithheldĮnter the amount(s) listed in the box labeled “Federal income tax withheld” on the W-2 or 1099 form(s) that you received.įederal income tax includes additional Medicare tax withholding from line 24 of federal form 8959. Report on line 31 all federal tax withheld, estimated tax payments, and federal taxes paid in 2021. ![]()
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