Iowa HF567 excludes net capital gains from the sale of gold or silver from Iowa individual income tax calculations.

Iowa HF567 modifies the state's individual income tax by excluding net capital gains from the sale of gold or silver from the calculation of Iowa net income. The bill defines "gold or silver" to include bars, coins, ingots, commemorative medallions, or pure gold or silver in any form. The changes take effect upon enactment and apply retroactively to tax years beginning on or after January 1, 2025.

Iowa HF567 excludes net capital gains from the sale of gold or silver from Iowa individual income tax calculations.

Iowa HF567 modifies the state's individual income tax by excluding net capital gains from the sale of gold or silver from the calculation of Iowa net income. The bill defines "gold or silver" to include bars, coins, ingots, commemorative medallions, or pure gold or silver in any form. The changes take effect upon enactment and apply retroactively to tax years beginning on or after January 1, 2025.