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.