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reye626
New Member

I did not recieve an IA 126 but I did recieve a W2-G from Iowa How will I know if there wee any modifications made and why is my gambling winning lowering my income tax?

 
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1 Reply
AmyC
Expert Alumni

I did not recieve an IA 126 but I did recieve a W2-G from Iowa How will I know if there wee any modifications made and why is my gambling winning lowering my income tax?

IA 126 is the form you use to report your Iowa income from the W2-G. If you need to modify the income based on your records, you would do that. Your resident state will give you a credit for tax paid to IA, which lowers your tax.

 

Reference: Topic no. 419, Gambling income and losses

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