Form It 1040x - Ohio Amended Individual Income Tax Return For Year 2014 (Page 5 of 6) in pdf

IT 1040X

Rev. 11/14

the $300,000 bonus depreciation). The NOL carryback/carryforward

See Ohio Administrative Code Rule 5703-7-18 available through

is $750,000. The deduction on the year 2007 Ohio amended income

our Web site at tax.ohio.gov.

tax return for the NOL carryback from taxable year 2009 is limited

You may need to enclose additional forms and documentation.

to $450,000 (the amount of the year 2007 federal modiﬁ ed taxable

Please see additional forms and documentation chart below.

income). Maria can use the remaining $300,000 of the year 2009

NOL carryback/carryforward for taxable years 2008 and later.

Line Instructions

Ohio public school district number – See the listing in the instruc-

Example 2: In 2012, Maria is a sole proprietor who is an employer.

tions for Ohio form IT 1040.

She reported $800,000 in federal adjusted gross income. Maria’s

2012 federal return as filed reflected $350,000 in itemized

Line 6 – To calculate the amounts you will show on this amended

deductions and personal exemption amounts. Maria’s 2012 federal

return, use the Ohio form IT 1040 instruction booklet for the year

modiﬁ ed taxable income was $450,000. In 2014, Maria incurred a

you show on the front of this form.

federal NOL of $1 million including an I.R.C. section 168(k) bonus

depreciation amount of $300,000. In that same year, Maria increased

Line 25 – Enter on this line all of the following:

her employer income tax withholding by 10% from the previous year.

Maria must ﬁ rst reduce the federal NOL carryback/carryforward

Refunds you claimed on previously ﬁ led returns for the year



by $200,000 (2/3 of the $300,000 bonus depreciation). The NOL

shown on this form – even if you have not yet received the

carryback/carryforward is $800,000. The deduction on the year

refund;

2012 Ohio amended income tax return for the NOL carryback from

Donations you made on your previously ﬁ led return; AND



taxable year 2014 is limited to $450,000 (the amount of the year

Amounts you previously claimed as an overpayment credit to



2012 federal modiﬁ ed taxable income). Maria can use the remaining

the next year (see "Special Rule for Overpayments" below).

$350,000 of the year 2014 NOL carryback/carryforward for taxable

Reduce the amount on this line by the interest penalty and interest

years 2013 and later.

and penalty shown on your originally ﬁ led return.

Reason and Explanation of Corrections

Special Rule for Overpayments

Be sure to complete and attach page 2 of this return.

(Line 25 on Ohio Form IT 1040X)

If you want to reduce the amount of your overpayment credit to be

Nonresident Married Filing Jointly Taxpayers

As a general rule, if your ﬁ ling status on your federal income tax

applied to the following year, as shown on the originally ﬁ led return

return is “married ﬁ ling jointly,” then both spouses must sign the Ohio

for the year you are amending, you must do both of the following:

income tax return. There is only one exception, discussed below, to

Include on line 25 only the amount of the overpayment credit



the general rule requiring both spouses to sign the “married ﬁ ling

that you claimed on your originally ﬁ led return and that you

jointly” Ohio income tax return.

now want applied to the following year; AND

Amend the following year's return (if already ﬁ led) to show

Exception to the General Rule. Your spouse does not have to



the reduction in the amount of the overpayment credit being

sign an amended "married ﬁ ling jointly" return only if all three of

the following apply:

applied on that return.

Your spouse resided outside Ohio for the entire year;



Line 27 – This line must include the amount of interest you owe.

Your spouse did not earn any income in Ohio; AND



For a schedule of yearly interest rates, go to tax.ohio.gov, click on

Your spouse did not receive any income in Ohio.



"Tax Professionals" and then click on "Interest Rates."

Additional Forms and Documentation

If you are changing the

Then include the following forms or document:

amount on this line:

Line 2

Ohio Schedule A, as amended, and supporting documentation

Line 4

Ohio Schedule J, as amended, and supporting documentation

Line 7

Ohio Schedule B, as amended, and supporting documentation

Line 13

Ohio Schedule C, D and/or E, as amended – see Ohio form IT 1040 instructions for information concerning

required enclosures. If you are changing the amount of the resident credit, you must include a copy of

the other state(s') income tax return. If you are changing the amount of the nonresident credit, you must

complete and include Ohio form IT 2023, as amended, and a copy of the other state(s') income tax return.

Line 17

Ohio form IT/SD 2210 as amended.

Line 20

W-2 forms or 1099 forms showing correct Ohio income tax withheld.

Line 22

See Ohio form IT 1040 instructions for information concerning required enclosures.

Mail to: Ohio Department of Taxation, P.O. Box 1460, Columbus, OH 43216-1460. Phone: 1-800-282-1780

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Form It 1040x - Ohio Amended Individual Income Tax Return For Year 2014 Page 5

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