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Are there any special benefits for Iowa taxpayers?

April 26, 2017Benefits Iowa special taxpayers

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Are there any special benefits for Iowa taxpayers?

2 Answers

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Yes. Iowa taxpayers can deduct contributions to the Plan of up to $2,800 (for 2009, adjusted annually for inflation) per beneficiary for Iowa state income tax purposes. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.

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Yes. Iowa taxpayers can deduct contributions to the Plan of up to $2,811 (for 2010, adjusted annually for inflation) per beneficiary for Iowa state income tax purposes. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.