AmyC
Expert Alumni

State tax filing

You do not need to file an Iowa return. Iowa nonresident says: Have net income from Iowa sources of at least $1,000, etc 

 

Those stock options are based from an Iowa company. 

I want to urge you to create a financial notebook that is kept separate from your tax return. Keep it safe and each year, add your year-end statements from all your financial accounts plus a copy of your W2’s, 5498, and any 8606 forms.

 

This will protect you down the road as proof of your basis in your various investments. As you go through life, rollovers, RSU & ESPP sales, and more will be captured for you. 

 

When you do sell, your notebook will be invaluable with knowing what was first, the order, the basis, and the lot size for stocks.

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