Bonus Depreciation
graphic link to 2008 Iowa income tax expanded instructions for 2009
Questions? E-mail Us!
2009 Expanded Instructions Home
graphic link to I-R-S Code
graphic image to translation web site
graphic link to Iowa e-file choices
graphic image to topic index of 2009 Iowa income tax instructions by topic
graphic link to 2009 Iowa income tax instructions by line number


FEDERAL BONUS DEPRECIATION / SECTION 179

Bonus Depreciation: Iowa did not adopt the federal 50% bonus depreciation provisions passed by Congress for assets acquired during 2009. The adjustment for depreciation should be made on form IA 4562A to account for the difference between federal and Iowa depreciation. Also complete form IA 4562B (Iowa Depreciation Accumulated Adjustment Schedule).

Section 179: Iowa did not adopt the federal provisions relating to increasing the expensing amount under section 179 of the Internal Revenue Code passed by Congress in 2009. For 2009, the Iowa section 179 expensing limit is $133,000 and the investment ceiling limitation is $530,000.