Certain credits are automatically calculated and carried from your Federal return to your Iowa return. Below are additional credits that are available through the state of Iowa:
Refundable Credits:
- Adoption Credit
- Claim of Right Credit
- Historic Preservation Credit
- Third-party Developer Tax Credit
- Wage-Benefit Credit
- Refundable Redevelopment Tax Credit
- Venture Capital - Qualifying Business Tax Credit
- Renewable Chemical Production Tax Credit
- MEGA Refundable Investment Tax Credit
- Third-party Developer Tax Credit for racks, shelving, and conveyor equipment (Refundable)
Nonrefundable Credits:
- Economic Development Region Revolving Fund Credit
- Endow Iowa Credit
- Housing Investment Tax Credit
- Investment Tax Credit
- Renewable Energy Credit
- School Tuition Organization Tax Credit Contributions
- Venture Capital Credit - Qualified Business
- Venture Capital Credit - Venture Capital Funds
- Wind Energy Production Tax Credit
- Agricultural Assets Transfer Credit
- Charitable Conservation Contribution Tax Credit
- Redevelopment Tax Credit
- Solar Energy Systems Tax Credit
- Innovation Fund Tax Credit
- Farm to Food Donation Tax Credit
- Workforce Housing Investment Tax Credit
- Hoover Presidential Library Tax Credit
- Employer Child Care Tax Credit
- MEGA Nonrefundable Investment Tax Credit
- Third Party Developer Tax Credit (Nonrefundable)
- Third-party Developer Tax Credit for racks, shelving, and conveyor equipment (Nonrefundable)
Program Entry
To make an entry into the program for a credit that is supported by the program, follow the steps below:
- State Section
- Credits
- Other Credits - Form 148
- Part I - Nonrefundable Credits or Part II - Refundable Credits
- Add Nonrefundable / Refundable Credit; Choose credit from the drop down menu and complete the applicable fields
The Adoption Credit can be found by following the steps below:
- State Section
- Credits
- Other Credits Form 148
- Adoption Credit (Refundable Credit)
- Add IA Adoption Credit by completing the applicable information
For more information, please see Iowa Department of Revenue.