Instructions For Filing: Personal & School District Income Tax - Department Of Taxation State Of Ohio - 2014 Page 20
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602014 Ohio Forms IT 1040EZ / IT 1040 / Instructions
Note: Income Tax Table 1 shows the tax
personal and dependent exemptions by $20
Bob had another source of qualifying income
amount for $50 increments of income and
and enter on line 9.
of $500 or more not deducted on Schedule
is calculated on the midpoint income for all
A, he and Sue would qualify for the credit.
Line 11 – Joint Filing Credit
of the income in that $50 range. The tax
If you do not qualify for the joint fi ling credit,
amount listed on Income Tax Table 1 may be
To qualify for this credit, you
enter -0- on line 11. If you do qualify for the
slightly lower or higher than the tax amount
and your spouse must each
joint fi ling credit, calculate it this way:
!
computed by using Income Tax Table 2.
have qualifying Ohio adjusted
Line 7 – Nonbusiness Credits from
gross income of at least $500
If your Ohio taxable
CAUTION
Schedule B
after you have fi gured your
income (line 5) is:
Your credit is:
Schedule A adjustments.
$25,000 or less............. 20% of line 10a
Schedule B on page 4 of the Ohio form IT
If you are a married couple fi ling a joint Ohio
1040 return has a list of the nonbusiness
More than $25,000,
income tax return, you may qualify for a joint
credits that you may be allowed to take.
but not more than
fi ling credit. You can take this credit only if
See pages 30-32 to read about the credits
$50,000 ........................ 15% of line 10a
each spouse has qualifying Ohio adjusted
for which you may be eligible.
More than $50,000,
gross income of $500 or more. Qualify-
but not more than
If you can claim any of these credits, you
ing Ohio adjusted gross income does
$75,000 ........................ 10% of line 10a
will need to complete Schedule B. Enter on
not include income from Social Security
line 7 the total credits from line 59 (enclose
benefi ts, most railroad retirement benefi ts,
More than $75,000 ......... 5% of line 10a
page 4 of Ohio form IT 1040).
uniformed services retirement income, inter-
est, dividend and capital gain distributions,
This credit is limited to a maximum
Important: If you show any amount on this
royalties, rents, capital gains, and state
of $650.
line other than -0-, you must include page
or local income tax refunds. This credit is
4 when you mail your return.
limited to a maximum of $650 (see the fol-
Example 2: If your Ohio taxable income
lowing examples).
(line 5) is $20,000 and the amount on line
Line 9 – Exemption Credit
10a is $303, then the joint fi ling credit will
Example 1: Bob and Sue fi le a joint return.
be $61:
For taxable years beginning on or after
Sue earned $200,000 from her current em-
Jan. 1, 2014, the $20 personal and de-
ployment. Bob's only source of income is
$303 – from line 10a
pendent exemption credit is only available
$500 from his state and municipal income
x .20 – from table above
to taxpayers with Ohio taxable income of
tax refunds included in federal adjusted gross
less than $30,000. Ohio taxable income is
income. This $500 is deducted on line 40a
Joint fi ling credit = $61 (rounded)
defi ned as Ohio adjusted gross income less
and is not included in Bob and Sue's Ohio ad-
exemptions. If Ohio taxable income is less
justed gross income. Therefore, they do not
If you qualify for this credit, but you and your
than $30,000, multiply your total number of
qualify for Ohio's joint fi ling credit. However, if
spouse do not each have a W-2 form show-
Ohio Earned Income Credit Worksheet
If you do not qualify for the federal earned income tax credit (EITC), you do not qualify for the Ohio earned income credit (EIC).
If you have claimed the low income credit on line 7 on IT 1040EZ or line 56 on Ohio form IT 1040, your tax liability is already $0, there-
fore you do not benefi t from this nonrefundable EIC. Stop here.
If Ohio taxable income is $20,000 or less for single or married fi ling joint return, complete only lines 1-3 of the worksheet below.
1. Federal EITC
............................................................................................................................................................. 1.
2. Ohio taxable income (line 5 on IT 1040EZ or IT 1040)
.............................................................................................. 2.
3. Ohio EIC limit – 10% of line 1 above. If Ohio taxable income is $20,000 or less for single or married fi ling joint
return, this is your EIC. Enter here and on line 13 of IT 1040EZ or line 14 of IT 1040, and stop here
..................... 3.
If Ohio taxable income is greater than $20,000 for single or married fi ling joint return, complete the rest of the
worksheet to determine your Ohio EIC.
4. Ohio tax (line 6 on IT 1040EZ or IT 1040)
................................................................................................................. 4.
5. Schedule B credits from line 59 on IT 1040
............................................................................................................... 5.
6. Income-based exemption credit (from line 9 of IT 1040EZ or IT 1040)
..................................................................... 6.
7. Schedule C credit (line 64 on IT 1040)
...................................................................................................................... 7.
8. Schedule D credit (line 67 on IT 1040)
...................................................................................................................... 8.
9. Total credits for Ohio EIC calculation (add lines 5, 6, 7 and 8)
.................................................................................. 9.
10. Ohio tax less total credits to calculate Ohio EIC (line 4 minus line 9)
...................................................................... 10.
11. Multiply line 10 by .5 and enter here
........................................................................................................................ 11.
12. Enter the lesser of line 3 or line 11 of this worksheet here and on line 13 of IT 1040EZ or line 14 of IT 1040
........ 12.
- 20 -
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