Forms Fr 1098 - Business Income Tax Return Ravenna - 2011 Page 2

RECONCILIATION WITH FEDERAL INCOME TAX RETURN

1. FEDERAL TAXABLE INCOME before net operating losses and special deductions per attached federal return (Form 1120, Line 28;

Form 1120S, Schedule K, Line 18; Form 1120A, Line 24; Form 1120-REIT, Line 20; Form 1065, Page 4, Line 1, “Analysis of Net

Income (Loss)”; Form 1041, Line 17; Form 990 T, Line 30)............................................................................................

1

2

2. Other City taxable income that is not shown on Federal return.........................................................................................................................

3

3. TOTAL TAXABLE INCOME (enter here and on Line 1 on Business return)......................................................................................................

SCHEDULE X

ITEMS NOT DEDUCTIBLE - ADD

4A

4. A. Capital losses (IRS Section 1221 and 1231 assets included) - Enter as a positive number...................

4B

B. 5% 0f Line 5B (If IRS Section 1221 asset was disposed of in 2008)......................................................

4C

C. Taxes based on income (State, Local, Ohio Franchise & other taxes paid or accrued based on net income)......

4D

D. Guaranteed payments to partners (not included in net profits)...............................................................

4E

E. Net operating loss deduction per federal return .....................................................................................

4F

F. Qualified retirement, health insurance and life insurance plans on behalf of owners/owner employees...

4G

G. REI - Other investor Benefits..................................................................................................................

4H

H. Other expenses not deductible (attach documentation and/or explanation)...........................................

4I

I. Total Additions.............................................................................................................................................................................................

ITEMS NOT TAXABLE - DEDUCT

5A

5. A. Capital gains - IRS Section 1221 or 1231.................................................................................................

5B

5.

B. Intangible income (Interest, dividends, patents, etc)................................................................................

5C

5.

C. Other exempt income (attach documentation and/or explanation)..........................................................

5D

5.

D. Total Deductions.............................................................................................................................................................................................

6

6. TOTAL ADJUSTMENTS (enter here and on Line 2 on Business return)............................................................................................................

If there is business activity both inside and outside of Ravenna use this 3-factor formula.

BUSINESS ALLOCATION

SCHEDULE Y

A. LOCATED EVERYWHERE

B. LOCATED IN RAVENNA

C. PERCENTAGE (B+A)

1. Average net book value of real & tangible personal property...............

$

$

Gross annual rentals multiplied by 8.....................................................

$

$

1

Total of Step 1.......................................................................................

$

$

%

2. Total wages, salaries, commissions and other compensation paid

2

to all employees.......................................................................

$

$

%

3

3. Gross receipts from sales and work or services performed.................

$

$

%

4

4. Total of Percentages..............................................................................................................................................................................................

%

5

5. Average percentage (Divide total percentages by number of percentages used) Enter here and on Line 4 on Business return.........................

%

PARTNERS DISTRIBUTIVE SHARES OF NET INCOME

SCHEDULE Z

3. Distributive Shares of

2. Resident

4. Other

5. Taxable

6. Amount Taxable

Partners

Payments

Percentage

1. NAME AND ADDRESS OF EACH PARTNER

Yes

No

Percent

Amount

(a)

%

$

$

%

$

(b)

(c)

(d)

7. TOTALS

$

$

$

100%

%

LOSS CARRY FORWARD CALCULATION - Five Year Limit

SCHEDULE F

2006

2007

2008

2009

2010

2011

TOTAL

Unused Loss Carry Forward

Loss Used in 2011

Loss Carried Forward to 2012

S:3903