Protected glycals and α‐1,2‐cyclopropanated sugars were converted in high yields and selectivities in less than 2 h at low temperatures to 2‐deoxy‐2‐iodoglycosyl acetates or novel 2‐deoxy‐2‐iodomethylglycosyl acetates using the simple, inexpensive reagent mixture of ammonium iodide, hydrogen peroxide, and acetic anhydride/acetic acid in acetonitrile. The protected glycals gave rise to 2‐deoxy‐2‐bromoglycosyl acetates when ammonium bromide was used instead of the iodide, although longer reaction times were required and selectivities were inferior. Other simple olefins such as styrene and indene were also converted to their corresponding 1,2‐trans‐iodoacetates.