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Keep in mind:
- Dependents filing their own returns claim a $40 personal exemption credit even though they are claimed as a dependent on another person's Iowa return.
- To see if you qualify for the “low income exemption” from tax, please review the Expanded Instructions for line 26 of the IA 1040. This exemption can also be claimed on line 4 of the IA 1040A Short Form.
- Iowa allows the same Student Loan Interest Deduction that is allowed on your federal 1040, line 33, or line 18 of federal 1040A. For Iowa purposes, this deduction is taken on line 24 of the IA 1040.