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Category: Iowa

Iowa Personal Credits

The below credits will apply to both the taxpayer and spouse (if filing a Married Filing Joint Iowa return).

A. Personal Credit

If you are filing single (filing status 1), married filing separately on a combined return (status 3) or married filing separate returns (status 4) or qualifying widow(er) (status 6), enter "1" in the Personal Credit space. This will be a "Yes" or "No" answer from a drop down menu within your TaxSlayer Iowa state return.

If you are filing married filing joint (status 2) or head of household (status 5), you are eligible for an extra credit and should enter "2" in the Personal Credit space. This will be a "Yes" or "No" answer from a drop down menu within your TaxSlayer Iowa state return.

Add the number of personal credits and multiple by $40. Enter this amount on the $ line. Note: Dependents filing their own returns claim a $40 personal exemption on credit even if they are claimed as a dependent on another person's Iowa return.

B. Additional Personal Credit - 65 or older and/or blind

If you were 65 or older on or before January 1, 2013, you may take an additional personal credit. If your spouse was 65 or older on or before January 1, 2013, and you are filing a joint return (status 2), you may take an additional personal credit for your spouse.

If you were blind on or before December 31, 2013, you may take an additional personal credit. If you spouse was blind on or before December 31, 2013, and you are filing a joint return (status 2), you may take an additional personal credit for your spouse.

Add the number of credits for 65 or older and blind and multiply by $20.

C. Dependents - Consult IRS Publication 17 to learn who qualifies as a dependent.

Enter the number of dependent children and other dependents you are claiming for federal income tax purposes. Add the number of dependent credits and multiply by $40. The IRS determines whether or not a person is a dependent.

D. Dependent Name(s)

Enter the first name(s) of the claimed dependents. Also enter their last name(s) if different than yours.

Note: Married Separate Filers - You may divide the number of dependents you claim between you and your spouse. However, you may not divide any one dependent between spouses. Each spouse must claim their own exemption credits and may not claim any unused part of their spouse's credit.

For additional information, please see Iowa Individual Income Tax Instructions.