Bonus Depreciation
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FEDERAL BONUS DEPRECIATION / SECTION 179

Bonus Depreciation

Iowa did not adopt the federal 50% bonus depreciation provisions passed by Congress for assets acquired during 2010. The adjustment for depreciation should be made on form IA 4562A to account for the difference between federal and Iowa depreciation. Also complete form IA 4562B (Iowa Depreciation Accumulated Adjustment Schedule).

Section 179

Effective with the enactment of Senate File 512 on April 12, 2011, Iowa did adopt the federal provisions relating to increasing the expensing amount under section 179 of the Internal Revenue Code passed by Congress in 2010.