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Screen IAFIAdj - Iowa Financial Institution Adjustments (1120)

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Additions and Reductions

Iowa tax refund
The application transfers amounts from the
State tax refunds
 statement in federal Screens Inc and H. The application assumes these amounts are not deductible in Iowa. Enter adjustments to state tax refunds in the
State Amount
 column of the statement.
Iowa tax expense
Amounts in the statement transfer from the Taxes and Licenses statement on Page 1 of the federal return. Enter adjustments to state and local income taxes in the
State Amount
 column of the statement. To exclude an item from the state return, delete the amount or the entire line item from the statement. The application displays the modified column in black and will not overwrite the new data with subsequent federal-to-state data transfers. For more information (including details on setting a user preference to mark fields for which you overruled the transferred amount), refer to the Statements overview.
Other additions
Enter other additions to Iowa taxable income in the statement. Information entered in statement transfers to Form IA 1120F, Schedule A.
Other reductions
Enter other reductions from Iowa taxable income in the statement. Information entered in the statement transfers to Form IA 1120F, Schedule D.

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