Form Ph Ir - Individual Income Tax Return - City Of Parma Heights

Page 2

SCHEDULE C

PROFIT OR LOSS FROM BUSINESS OR PROFESSION

Business Name

Business Address

1. Net Profit or Loss ......................................................................................................................................................................................

2. Add Items not Deductible (Schedule X Line G) ........................................................................................................................................

3. Deduct Items not Taxable (Schedule X Line Z) ........................................................................................................................................

(

)

4. Adjusted Net Profit or Loss ......................................................................................................................................................................

5. Schedule Y ________% allocable to Parma Heights (Parma Heights residents disregard) ....................................................................

6. Less allocable net loss carry-forward 5 year limit (See Instructions) .......................................................................................................

7. Net Profit or Loss (NET PROFIT ONLY, Line 4 or Line 7 enter on Line 2, page 1) ..................................................................................

NOTE: A loss in one city may never offset the gain in another city. However, a business or rental gain may be offset by a loss in the SAME city (See Instructions)

NOTE: If income from rents included in Schedule C, address of property

SCHEDULE G

INCOME FROM RENTS (Not included in Schedule C)

Complete this Schedule if you are not required to file with the Internal Revenue Service. Otherwise, attach copy of Federal Schedules.

Eligible Loss

Net Income

Type & address of property, City & State

Amount of Rent

Depreciation

Repairs

Other Expenses

Carry Forward

or Loss

NOTE: LOSS Carry-Forward 5 year limit (See Instructions)

NET INCOME ONLY - Enter on Line 2, page 1

A loss in one city may never offset the gain in another city. However, a business or rental gain may be offset by a loss in the SAME city (See Instructions)

SCHEDULE H

ALL OTHER TAXABLE INCOME

Individual’s distributive share of income from partnerships, estates, trusts, director’s and other fees, farm and other sources (See Instructions)

Received From

For (DESCRIBE)

Amount

TOTAL INCOME - Enter Line 2, page 1

SCHEDULE X

ADJUSTMENT OF NET PROFIT OR LOSS LINE 1, SCHEDULE C ABOVE

TO EXCLUDE INCOME NOT TAXABLE, AND EXPENSES NOT ALLOWABLE

Schedule X entries are allowed only to the extent directly included in determination of net profits as shown on your Federal Return.

ITEMS NOT DEDUCTIBLE - ADD