Income Tax Return - City Of Ashtabula - 2016 (Page 2 of 2) in pdf

REFER TO INSTRUCTIONS BEFORE COMPLETING THIS PAGE

** Tax Returns will be considered incomplete if all applicable Federal Schedules and Forms are not included

IMPORTANT CHANGES: Tax return must be signed, penalty is 15% of tax due, interest is .42% per month and a late

filing fee of $25.00 PER MONTH up to $150.00 is imposed, accurately calculated refunds or tax due of less than

$10.00 is not payable, rental owners may carryforward losses to future years to offset rental income (see Ordinance),

due dates of individual estimates are 04/18/17, 06/15/17, 09/15/17, and 12/15/17.

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Assistance is available; please contact our office. Online payments can be made at:

Reference the File# printed on front page of this tax return when making online payments as well as all other

correspondence.

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LINE 13

Business Profit or Loss. Enter amount from Federal Schedule C, 1120, or 1120S

$__________________

LINE 14

Enter Profit (Loss) from Federal form 4797

$__________________

LINE 15

Enter Profit (Loss) from Federal Schedule E (Attach Tenant List)

$__________________

Note: Changes for 2016 Tax Year: Losses can be carried forward to future years

to offset rental income. No Loss Carryback. No offset of W2 wages.

LINE 16

All Other Taxable Income: Schedule K-1 – Partnership Income, 1099-Misc,

Schedule F, Estates & Trusts, Tips, Commissions, etc.

$__________________

LINE 17

Total of Lines 13 thru 16. Carry forward to page 1, Line 1C

$______________

INDIVIDUAL TAXPAYERS PLEASE STOP HERE

LINE 18

Adjustments to Federal Income (Loss)

$__________________

ITEMS NOT DEDUCTIBLE

ADD

ITEMS NOT TAXABLE

DEDUCT

18A) Capital Losses (Excluding Ordinary Losses)

$ _______________

18f) Capital Gains

18b) Expenses incurred in the production of non-

(Excluding Ordinary Gains)

Taxable income

$_______________

18g) Interest Income

18c) Taxes based on income

$_______________

18h) Dividends

18d) Other not deductible (Federally Deferred)

$_______________

18i) Other

18e) Total Lines 18 a thru 18 d

$_______________

18j) Total Lines 18f thru 18i)

** 18k) Combined Lines 18e + 18j

$________________

(Add or subtract 18k from your Federal Income (Loss) and enter ON LINE 18 ABOVE)

LINE 19 Business Allocation Formula.

$__________________

Carry forward to Page 1; Line 1C

LOCATED

b. LOCATED IN

C. PERCENTAGE

EVERYWHERE

ASHTABULA

(a / b)

STEP 1A - AVERAGE VALUE OF REAL & TANG. PERSONAL PROPERTY

STEP 1B - GROSS ANNUAL RENTALS PAID MULTIPLIED BY 8.

TOTAL STEPS 1A & 1B

STEP 2 - GROSS RECEIPTS FROM SALES MADE AND/OR

SERVICE PERFORMED

STEP 3 - WAGES, SALARIES, AND OTHER COMPENSATION PAID

STEP 4 - TOTAL PERCENTAGES (Steps 1, 2, 3)

STEP 5 - PERCENTAGES (Divide Total Percentages by Number of Percentages Used)

STEP 6 - Multiply your Federal Income (Loss) from Line 18 above by the % on STEP 5 and enter on line 19 above

Income Tax Return - City Of Ashtabula - 2016 Page 2

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