What value do you enter for the "Taxes (less any iowa income tax)" line item on the iowa minimum tax page?
it says my iowa minimum tax is zero, but then gives a total tax amount of $x and is asking what potion of the Iowa minim tax my spouse should pay
01209
1 Replies
SamS1
Expert Alumni
Apr 6, 2021 3:45:24 PM
The Iowa 6251 alternative minimum tax is calculating on the combined income instead of the married separate incomes of taxpayer and spouse. Go back and allocate a potion of the tax preference items to your spouse so to zero out the IA 6251.