My wife and I sold shares in a private company that is incorporated in Iowa, but we are full time residents of Arizona. Is the capital gains considered Iowa income? We did receive a 1099-B for this sale. We also have shares in an LLC in Iowa that issued a K-1 and an Iowa specific K-1, so we do have some Iowa income and I believe have to file an Iowa state tax return, but the question is whether the capital gains has to be included as "Iowa-Source Income" on form 2019 IA 126.
