Form Ir - Akron Income Tax Return For Individuals - 2007 Page 2
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4>>>> ATTACH COPIES OF W-2’s & 1099-MISC HERE <<<<
2007 Form IR Page 2
W-2 & 1099-MISC - Include all taxable income that is reported to you on W-2s and 1099-MISC forms.
WORKSHEET A
Complete and carry totals to Page 1. Only include 1099-MISC forms that represent taxable income that is not reported on Schedule C.
Lottery winnings and
supplemental unemployment payments (SUB-PAY) from a company or union must be included in the table below.
Do not include interest or dividend income.
ENTER TOTAL COMPENSATION RECEIVED, INCLUDING ALL DEFERRED INCOME.
Employed
Gross Income
Akron Income Tax
Tax Withheld or Paid to
Print Employer's Name
Locality Where You Work
From
To
Largest Figure on W-2
Withheld
Other City or JEDD
TOTALS →
1)
2)
3)
(NUMBER OF W-2's & 1099's ATTACHED __________)
If more lines are needed to report all of your W-2s and 1099-MISC forms, attach an additional sheet.
BUSINESS NET PROFIT CALCULATION
(Attach copies of Federal Return & Schedules)
WORKSHEET B
PLEASE NOTE: Corporations, Partnerships, and Associations must use Form BR – the Akron business net profit return.
Akron residents must complete Worksheet SE below to arrive at self-employment or rental income that is taxable to Akron. Worksheet K must be completed by
Akron residents who have distributive shares from a Partnership or Ohio S Corporation. Losses claimed from a business or distributive shares cannot be
used to offset wage income.
Non-Akron residents who have business activity both inside and outside of Akron must complete Worksheet C below to
calculate their apportioned income using the Business Allocation 3-Factor Formula. (Bracket negative numbers.)
1.
1. AKRON RESIDENTS: Add totals from Worksheets SE & K (All forms can be downloaded, or will be mailed on request.) ...…
2.
2. NON-AKRON RESIDENTS: Total all income (profits & losses) that is allocated 100% to Akron, and that you have reported
on federal Schedule C – Line 31, Schedule C-EZ – Line 3, Schedule E – Line 22, or Schedule F – Line 36 ………….…………
3.
3. NON-AKRON RESIDENTS: Business income that is allocated at less than 100% from Worksheet C ………..….…..…….….
4.
4. ALL FILERS: Enter 4797 “Recovery of Depreciation” from sale or exchange of property used in business (See instructions)...
5. AKRON RESIDENTS add Lines 1 & 4. NON-AKRON RESIDENTS add lines 2, 3 & 4. If equal to or greater than zero, enter
5.
the result on Page 1, Line 4. If less than zero, enter result as a positive number in the 2007 column of Worksheet F below….
BUSINESS
ALLOCATION 3 – FACTOR
FORMULA
TO BE USED ONLY BY
WORKSHEET C
NON-AKRON RESIDENTS
A. LOCATED EVERYWHERE
B. LOCATED IN AKRON
C. PERCENTAGE (B / A)
1
……..……….. $______________________
$______________________
. Average original cost of real and tangible property
1.
………………..………$______________________
$______________________
Gross annual rentals multiplied by 8
%
Total of Step 1 ……..………………………………………………$______________________
$______________________
_________
2.
Total wages, salaries, commissions and other
2.
%
$______________________
$______________________
_________
compensation paid to all employees
3.
Gross receipts from sales and work or services
3.
%
$______________________
$______________________
_________
performed
%
4.
4.
Total of percentages
_________
5.
5.
%
Average percentage (Divide total percentages by number of percentages used.)
_________
6.
6.
Multiply Line 5 by the net income of the business being allocated. Enter the result here and on Line 3 of Worksheet B ………………..………...
TO BE USED ONLY BY
CALCULATOR FOR SELF-EMPLOYMENT OR RENTAL INCOME
WORKSHEET SE
AKRON RESIDENTS
A
B
C
D
E
F
G
Enter
Self-Employment &
Rate
Taxable
Income that is
Name of Taxing Jurisdiction where Self-
Jurisdiction’s
Sch
Rental Income
Differential
Percentage
Taxable to Akron
Employment or Rental Activity takes place
Income Tax
letter
[Report both
(2.25 – Rate
(Rate Differential
Column B X
(List each city or JEDD, including Akron.)
Rate
C, E
Profit & (loss)]
in Column D)
/ 2.25)
Column F
or F
AKRON
2.25
-----
100 %
$
NON-TAXING JURISDICTION
0.00
2.25
100 %
$
CUYAHOGA FALLS
2.00
.25
11.11 %
$
$
$
See Instructions for completing Worksheet SE. Total the entries in column G and include in the figure on Line 1 of Worksheet B above.
2106 BUSINESS EXPENSE
WORKSHEET F
WORKSHEET E
LOSS CARRYFORWARD CALCULATION
Attach Form 1040, pgs. 1 & 2,
(Three year limit)
Schedule A and Form 2106
2004 2005
2006
2007
TOTAL
(See Instructions)
1.
1. 2106 Business Expense
Unused Loss
2. 2% of Adjusted Gross Income from
2.
Carryforward
Schedule A as filed with Form 1040
Loss Used in 2007
(Enter
3. Allowable 2106 Deduction
TOTAL on Line 5, Page 1)
3.
Subtract Line 2 from Line 1.
Loss Carried Forward
to 2008
Enter result on Line 2 of Page 1
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