Form R - Annual Income Tax Return Page 2
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2PAGE 2 – FORM R
THIS SECTION TO BE COMPLETED ONLY BY THOSE WITH PROFIT OR LOSS FROM INCOME OTHER THAN WAGES
10. ALLOWABLE PRIOR YEAR LOSS CARRY FORWARD TO CURRENT YEAR (Attach year-by-year details) ..................... 10
$______________
11. PROFIT OR LOSS FROM ANY BUSINESS OWNED (from Sch X, line 5 below) ................................................................. 11
$______________
12. RENTAL INCOME (Attach Federal Schedule E, Part I) &/or Farm Income (Attach Federal Schedule F) ............................. 12
$______________
13. PASS-THROUGH INCOME(Attach Federal Schedule E, Parts II to V) (Report only income not already taxed by Carroll at entity level) ........ 13
$______________
14. OTHER INCOME (Attach Federal 1040 Pg 1) (1099-MISC, Form 4797 Ordinary Income) .................................................. 14
$______________
15. TOTAL OTHER TAXABLE INCOME (Add Lines 10 to 14). If positive, enter on line 2, page 1. If negative, enter zero. ........ 15
$______________
Attach any Adjusting Schedules or Worksheets including Pages 1 and 2 of Sch C & F; Pages 1 to 4 of 1120, 1120S, 1065, 1041
SCHEDULE X Business Income Schedule (including resident pass-through income)
1.
INCOME PER FEDERAL RETURN C Corp: Form 1120, S Corp: Form 1120S, Partnership: Form 1065, Trust: Form1041, Self-employment: Sch C.,
Farm: Sch F, ............................................................................................................................................................... $____________________
ITEMS NOT TAXABLE
DEDUCT
ITEMS NOT DEDUCTIBLE
ADD
A. Capital/Ordinary IRS Section 1231 losses deducted .......... _________________
K. Capital/IRS Section 1231 gains, etc. .................................. _________________
B. 5% of expenses not attributable to sale, exchange .............
L. Interest earned or accrued
........................................ _________________
or other disposition of IRS Section 1221 property ............... _________________
C. Tax based on income
........................................ _________________
M. Dividends
........................................ _________________
D. Guaranteed payment to partners ........................................ _________________
(not included within net profits)
N. Income from patents, etc.
........................................ _________________
E. Charitable contributions deducted above corporate
O. Other exempt income (attach documentation or explanation) .. _________________
limitations including O.R.C. 718.01 (A) (1) (g) .................... _________________
F. IRS Section 179 expense deducted above corporate
_____________________________________________________ ... _________________
limitations including O.R.C. 718.01 (A) (1) (g) .................... _________________
G. Qualified retirement, health ins. and life ins. Plans
_____________________________________________________ ... _________________
on behalf of owners/owner employees .............................. _________________
_____________________________________________________ ... _________________
H. Adjustment for specially allocated expense items .............. _________________
I. Other expenses not deductible
_____________________________________________________ ... _________________
(attach documentation or explanation) ................................. _________________
J. TOTAL ADDITIONS (enter on Line 2A above) .................... _________________
P. TOTAL DEDUCTIONS (enter on Line 2B above) ................ _________________
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