Iowa Code r. 351-7.2 - Information disclosed on form
(1)
Definitions. For the
purpose of completing Form PFD, "income sources" includes those sources which
are held jointly with one or more persons and which in total generate more than
$1000 of income. "Jointly" means that the ownership of the income source is
undivided among the owners and that all owners have one and the same interest
in an undivided possession, each with full rights of use and enjoyment of the
total income. Sources of income that are co-owned but with ownership interests
that are legally divisible, without full rights of use of enjoyment of the
total income, need not be reported unless the person's portion of the income
from that source exceeds $1000.
(2)
Spousal income. For purposes of completing Form PFD, income
earned solely by the spouse of a person subject to reporting is not income to
that person and need not be reported as an income source.
This rule is intended to implement Iowa Code section 68B.35.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.