Iowa Bankruptcy Exemptions

Apartment used as a principal residence

100%

Iowa Code §499A. 18

Homestead of any person (persons living together as a single household unit may claim exemption once in the aggregate.)

1/2 acre including dwelling house and appurtenances if within city plat; otherwise, 40 acres including dwelling house and appurtenances (acreage may be enlarged if value is less than $500)

Iowa Code §§561.2, 561.16

One motor vehicle

$7,000

Iowa Code § 627.6(9)

Disposable earnings (earnings less deductions required by law)

75% OR 40 times the federal minimum hourly wage per week WHICHEVER IS GREATER. NOTE: only the following amounts may be garnished during a calendar year Debtor’s expected Amount that can be annual earnings garnished in calendar year $12,000 or less - $250; $12,000 to $16,000 - $400; $16,000 to $24,000 - $800; $24,000 to $35,000 - $1,500; $35,000 to $50,000 - $2,000; $50,000 or more - 10% of expected earnings

Iowa Code §642.21, Iowa Code §537.5105 Iowa Code §627.6(10)

Disposable earnings from others earned by farmer whose agricultural land is foreclosed upon

100% for 2 years after entry of deficiency judgment. (Earnings paid to debtor directly or indirectly by debtor are not exempt)

Iowa Code §627.6(13)

Debtor's interest in accrued wages and state and federal tax refunds

$1,000 aggregate

Iowa Code §627.6(10)

Group insurance benefits

same as provided in chapter 627

Iowa Code §§ 509.12, 509A.9

Debtor's interest in life insurance policy payable to spouse, child or dependent of debtor (includes loan or cash surrender value and accrued dividends or interest)

100% ($10,000 for first 2 years of policy)

Iowa Code § 627.6(6)

Fraternal insurance benefits

same as provided in chapter 627

Iowa Code §512B.18

Avails of life, accident, health or disability insurance policy

$15000 (applies to debts of beneficiary contracted prior to death of insured)

Iowa Code § 627.6(6)

Benefit or indemnity paid under accident, health or disability insurance policy

100%

Iowa Code § 627.6(6)

Burying ground or interment space

1 acre

Iowa Code § 627.6(4)

Libraries, family Bibles, portraits, pictures, musical instruments, and paintings not kept for sale

$1,000 aggregate

Iowa Code § 627.6(3)

1 shotgun and either 1 musket or 1 rifle

100%

Iowa Code §627.6(2)

Wedding ring received by debtor or dependents after marriage & within 2 years of execution

$7,000

Iowa Code § 627.6(1)(a)

Proceeds of wrongful death actions, including structured settlements

amount reasonably necessary for support of debtor or his/her dependents

Iowa Code §627.6 (16) Iowa Code § 633.336

Jewelry of debtor and debtor's dependents

$2,000 (plus wedding or engagement ring received prior to marriage)

Iowa Code §627.6(1)(b)

Bank deposits or other personal property

$1,000

Iowa Code §627.6(14)

Professionally-prescribed health aids

100%

Iowa Code § 627.6(7)

Household furnishings, musical instruments, goods & appliances held for personal, family or household use of debtor or dependents

$7,000 aggregate

Iowa Code § 627.6(5)

Pension benefits of policemen and firemen

100%

Iowa Code §§411.13,410.11

United States Government pension benefits

100% (includes homestead purchased with pension money)

Iowa Code §§627.8, 627.9

Contributions to and assets of ERISA- qualified retirement plans, and SEPs, Keogh Plans, IRAs, Roth IRAs, and similar plans or accounts

100% of contributions (See statute for limitations on exemption for earnings and increases on contributions

Iowa Code § 627.6(8)(f)

Debtor's right to payments under pension, annuity or similar plan or contract on account of illness, death, age or length of service

100% (payments resulting from excessive personal contributions within previous year are not exempt)

Iowa Code § 627.6(8)(e)

Retirement, accident and disability--Iowa Dept. of Publ. Safety

100%

Iowa Code § 97A. 12

Public employees retirement benefits

100%

Iowa Code § 97B.39

National Guard and State Guard equipment owned by members

no monetary limit

Iowa Code §§ 29A.41, 29A.70

Implements, equipment, livestock and livestock feed, if reasonably related to normal farming operation

$10000 (debtor must be engaged in farming)

Iowa Code §627.6(12)

Implements, professional books, or tools of trade of nonfarmer debtor and dependents

$10,000

Iowa Code § 627.6(11)

Assistance for adopted children

100%

Iowa Code §627.19

Worker's Compensation benefits

100% (support claims excepted)

Iowa Code § 627.13

Debtor's rights in Social Security unemployment compensation, any public assistance benefits, veterans benefits, or disability or illness benefits

100%

Iowa Code § 627.6(8)(a),(b),(c)

Unemployment compensation benefits

100%

Iowa Code §96.15

Public property necessary for carrying out purpose of publ. corp.

100%

Iowa Code § 627.18

Liquor licenses

100%

Iowa Code § 123.38

Payments under family investment program (aid to dependant children)

100%

Iowa Code § 239B.6

Specific partnership property

100% of partner's interest

Iowa Code § 486A.203

Residential rent or utility deposits or advance residential rent payments

$500

Iowa Code § 627.6(15)

Debtor's rights to alimony, support or separate maintenance

Amount reasonably necessary to support debtor & dependents

Iowa Code § 627.6(8)(d)