Note: Federal Bonus Depreciation / Section 179

Topics:

Expanded Instructions
  • Instruction Year: 2023

Bonus Depreciation

Bonus depreciation is available for Iowa tax purposes for assets placed in service in a tax year beginning on or after January 1, 2021. See IA 4562A&B for required adjustments for assets placed in service in a tax year beginning before January 1, 2021.

Section 179

For tax years beginning on or after January 1, 2020, the IRC section 179 limitations and phase-out threshold for Iowa purposes are the same as federal. See IA 4562A&B for required adjustments.