Screen IAInc - Iowa Member's Income and Expenses (1120)

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Member's Information

Include in separate company federal taxable income
Enter
1
for Yes or
2
for No, or choose a response from the dropdown list. If code
1
is entered, the application will include this member’s profit or loss in the numerator and denominator of the revenue producers or loss producers formula when applicable. If code
2
is entered, or this field is left blank, the application will include this member’s profit or loss in only the denominator of the revenue producers or loss producers formula. These formulas are used for Schedule H1 to limit the allowable federal refund/deduction.

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