Form 60-083 Schedule I Iowa Inheritance Tax - Annuities, Section 529 and Able Plans - Iowa

What Is Form 60-083 Schedule I?

This is a legal form that was released by the Iowa Department of Revenue - a government authority operating within Iowa. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 60-083 Schedule I?
A: Form 60-083 Schedule I is a form used for reporting Iowa Inheritance Tax specifically for annuities, Section 529 plans, and Able plans.

Q: What is Iowa Inheritance Tax?
A: Iowa Inheritance Tax is a tax imposed on the transfer of property or assets from a deceased person to their beneficiaries.

Q: What are annuities?
A: Annuities are financial products that provide a regular income stream for a specified period of time or for the rest of the annuitant's life.

Q: What are Section 529 plans?
A: Section 529 plans are tax-advantaged savings plans designed to help individuals save for future college expenses.

Q: What are Able plans?
A: Able plans, also known as Achieving a Better Life Experience plans, are tax-advantaged savings accounts for individuals with disabilities to pay for qualified disability expenses.

Q: Who needs to file Form 60-083 Schedule I?
A: Those who are required to pay Iowa Inheritance Tax on annuities, Section 529 plans, and Able plans should file Form 60-083 Schedule I.

Q: Are there any exemptions or deductions available for Iowa Inheritance Tax?
A: Yes, Iowa has various exemptions and deductions available for Iowa Inheritance Tax. Additional forms may be required to claim these exemptions or deductions.

Q: When is the deadline to file Form 60-083 Schedule I?
A: The deadline to file Form 60-083 Schedule I is typically within 9 months after the date of death of the decedent, unless an extension has been granted.