2022 IA 100F 
                                                               Iowa Capital Gain Deduction – ESOP 
                                                                                             tax.iowa.gov 

Name(s): _____________________________________ Social Security Number: __________________   

Part I: Sale of Employer Securities to a Qualified Iowa Employee Stock Ownership Plan (ESOP) 
1. Name of Iowa corporation: _______________________________________________________
   Note: A limited liability company (LLC) is not considered to be an Iowa corporation for the 
   purposes of this deduction. 
2. Does the qualified Iowa ESOP own at least 30% of all outstanding employer securities issued by
   the Iowa corporation?
   No  ☐ ... Sale is not eligible for Iowa capital gain deduction. Stop. 
   Yes   ☐... Continue to Part II, line 1. 

Part II: Details of Property Sold 
1. Were the employer securities sold Iowa corporation stock?
   No  ☐ ... Sale is not eligible for Iowa capital gain deduction under sale of employer securities
              to a qualified Iowa ESOP. Stop. 
   Yes   ☐... Continue to Part II, line 2. 

2. Are you the sole owner of the employer securities? Married filers, see instructions.
   No  ☐ ... Continue to Part II, line 3.
   Yes   ☐... Enter 100% on Part II, line 3. 

3. Enter taxpayer’s ownership percentage of the total employer securities
   sold to the nearest one tenth of one percent (for example 65.2%) .............. 3. _____________ % 
4. Provide all other owner name(s): ____________________________________________________
    ______________________________________________________________________________
5. Provide the name of the qualifying Iowa ESOP: ________________________________________
    ______________________________________________________________________________
6. Is the capital gain from an installment sale?
   No  ☐ ... Continue to Part II, line 7.
   Yes   ☐... Enter the property installment sale information: 

   a. Start date ........................................................ 6a.  _____________ 
   b. End date ......................................................... 6b.  _____________ 
   c. Total capital gain to be received by taxpayer
         over the life of the installment sale ................. 6c. $ ____________ 
   d. Capital gain received by the taxpayer in tax year 2022 .................. 6d. $ _____________ 
7. Enter the amount of taxpayer’s capital gain received from this sale in
   tax year 2022 ............................................................................................... 7. $ ______________ 
8. Iowa capital gain deduction. Multiply Part II, line 7 by 50% (.5).
   Enter here and include on IA 1040 line 23 ................................................... 8. $ ______________ 

                                                                                             41-160a (06/07/2022)

                                                           2022 IA 100F Instructions, Page 2 
            Instructions for 2022 IA 100F – Iowa Capital Gain Deduction Sale of 
                           Employer Securities to a Qualified Iowa ESOP 

The Iowa capital gain deduction is subject to     Line 2. If married filing jointly and both spouses 
review by the Iowa Department of Revenue. The     are the only owners, check yes. If married filing 
Department will use this form to verify that the  separately and both spouses are owners, check 
taxpayer(s) qualifies for the deduction. The      no; each spouse must complete an IA 100F and 
Department may request additional information     indicate on  line  3  the separate ownership 
if needed.                                        percentage of that spouse. 
This completed form must be included with the     Line  3.  Enter the taxpayer’s ownership 
IA 1040 to support the Iowa capital gain          percentage of the employer securities  sold at 
deduction claimed. Complete a separate IA         the time of the sale to the nearest one tenth of 
100F for each sale to a qualified Iowa ESOP.      one percent (for example: 50.0%; 33.3%). If not 
Complete the form each year of a qualifying       the sole owner, the taxpayer’s ownership 
installment sale, including all parts.            percentage must be less than 100% and greater 
For taxpayers filing separately on the same       than 0%. 
return, each spouse must complete an IA 100F      Line  4. Enter  the names of all persons and 
for the Iowa capital gain deduction claimed       entities that owned the employer securities at the 
based on the spouse’s ownership percentage in     time of sale. If the capital gain flowed through to 
the employer securities.                          the taxpayer from a partnership, S corporation, 
Flowcharts to assist in determining if a gain     LLC, estate, or trust, all owners of the entity must 
qualifies are also available in the expanded      be reported. 
instructions online. For more information on the  Line  5. Enter the name  of  the  qualifying Iowa 
Iowa capital gain deduction, see the instructions ESOP.  
below and Iowa Administrative Code rule 701—
302.38.                                           Line 6.  Check the box to indicate whether the 
                                                  capital gain comes from an installment sale. If 
Part I: Sale of Employer Securities to a          “Yes,” enter the date of the first installment, the 
Qualified Iowa Employee Stock Ownership           expected date of the final installment, the total 
Plan (ESOP)                                       capital gain generated by  the  sale,  and the 
Line 1. Enter the name of the Iowa corporation    capital gain  the taxpayer received during tax 
whose employer securities the taxpayer sold.      year 2022. Do not include any interest received. 
Note: A limited liability company (LLC) is not    Line  8. Enter the amount of the taxpayer’s 
considered to be an Iowa corporation for the      capital gain deduction claimed, 50% of line 7. 
purposes of this deduction. In addition, an Iowa  Note that the deduction applies to the net capital 
corporation is a corporation whose commercial     gain from a sale. Any nonrecaptured losses are 
domicile is in Iowa.                              treated as ordinary income and are not eligible 
Line 2. Check the box to indicate whether, upon   for the  Iowa capital gain deduction.  The 
completion of the sale, the qualified Iowa ESOP   eligibility of the  Iowa capital gain deduction 
owned at least 30% of all outstanding employer    reported here  may be  subject to further 
securities issued by the Iowa corporation         examination by the Department. 
entered in Part I, line 1. 
Part II: Details of Property Sold 
Line 1. Check the box to indicate whether the 
employer securities sold were Iowa corporation 
stock. 

                                                                                 41-160b (12/09/2022)