Instructions For Filing: Personal & School District Income Tax - Department Of Taxation State Of Ohio - 2014 Page 24
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602014 Ohio Forms IT 1040EZ / IT 1040 / Instructions
Ohio income taxes withheld by an amount
"Exempt Federal Interest Income," which is
Ohio income tax return if the following two
equal to or greater than 10% over the pre-
available on our Web site at tax.ohio.gov.
conditions apply:
vious year. Replace “5/6” with “6/6” for tax-
You were a full-year resident of one of
Line 37b – Depreciation Expense
payers who incur a net operating loss for
these states; AND
federal income tax purposes if the loss was
Your only source of income within Ohio
Deduct 1/5, 1/2 or 1/6 of the Internal Rev-
a result of the 168(k) and/or 179 deprecia-
was from wages, salaries, tips or other
enue Code sections 168(k) and 179 depre-
tion expenses. No add-back is required for
employee compensation.
ciation adjustments that you added back
employers who increased their Ohio income
on your previous Ohio income tax returns.
If Ohio income tax was withheld on this income
taxes withheld over the previous year by an
The fraction used depends on the fraction
and you meet the two conditions set forth
amount greater than or equal to the sum of
used when the add-back took place. De-
above, you can fi le an Ohio income tax return
the 168(k) or 179 depreciation expenses.
duct 1/5 of amounts that resulted from a
to get a full refund. Enter the amount from line
No add-back is required for 168(k) and/or
5/6 add-back. Deduct 1/2 of amounts that
1 onto line 2 and onto line 38, Schedule A.
179 depreciation amounts related to a pass-
resulted from a 2/3 add-back. Deduct 1/6 of
Be sure to include page 3 of Ohio form IT
through entity in which the taxpayer has less
amounts that resulted from a 6/6 add-back.
1040 when you send in your return.
than 5% ownership. See Ohio Revised Code
You can take this deduction even if you no
section 5747.01(A)(20) as amended by the
Exceptions: Nonresidents and part-year
longer directly or indirectly own the asset.
129th General assembly in HB 365 and our
residents must enter -0- on line 38 if either
information release IT 2002-02 entitled “Ohio
Note: These deductions cannot be taken
of the following circumstances applies:
Bonus Depreciation Adjustments,” which is
to the extent that your sections 168(k) and
available on our Web site at tax.ohio.gov.
1. You were a part-year resident of Ohio or
179 depreciation expenses increased a
you had additional sources of income from
federal net operating loss carryback or car-
Line 37a – Federal Interest and
Ohio or do not meet the two conditions set
ryforward. If a deduction is not available
Dividends
forth above. If so, you must fi le Ohio form IT
for this reason, you may carry forward the
1040 and claim the nonresident/part-year
amount not deducted for Ohio purposes
Enter interest and dividend income (included
resident credit on Schedule D; OR
and deduct it during a future year. See Ohio
in line 1) from obligations issued by the United
2. The reciprocal agreements do not apply.
Revised Code section 5747.01(A)(20) as
States government or its possessions/territories
These agreements do not apply to you if
amended by the 129th General assembly
that are exempt from Ohio tax by federal law.
you own directly or indirectly at least 20% of
in HB 365 and our information release IT
Examples include U.S. savings bonds (Series
a pass-through entity having nexus in Ohio.
2002-02 entitled “Ohio Bonus Deprecia-
E, EE, H or I), Treasury notes, bills and bonds,
Ohio Revised Code section 5733.40(A)(7)
tion Adjustments,” which is available on our
and Sallie Maes.
reclassifies compensation from such
Web site at tax.ohio.gov.
pass-through entities to a distributive
Examples of interest income that are not
Line 38 – Residents of Neighboring States
share of the income from the pass-through
deductible:
and Nonresident Military Personnel and
entity. You must claim the nonresident/
Interest paid by the IRS on a federal in-
Their Spouses
part-year resident credit on Schedule D.
come tax refund.
Also, see "How Should Full-Year Nonresi-
Interest income from Fannie Maes or Gin-
dents and Part-Year Residents Engaged
Because of reciprocity agreements that
nie Maes.
in Business in Ohio Apportion Income?"
Ohio has with the border states of Indiana,
on page 11.
Kentucky, West Virginia, Michigan and
For a more complete listing, see our
information release IT 1992-01 entitled
Pennsylvania, you do not have to fi le an
Nonresident Military Personnel and
Their Spouses. The Servicemembers Civil
Medical Savings Account Worksheet for Lines 35d and 46b
Relief Act of 2003, as amended in 2009, is
a federal law that provides that a state can-
not consider a servicemember or his/her
1. Amount you contributed during 2014, but no more than $4,569. Do
spouse to be a resident or a nonresident
not include on this line any amount you entered on line 25 of federal
simply because he/she is present in the
form 1040
........................................................................................... 1.
state – or absent from the state – due to
2. If joint return, amount your spouse contributed to a separate account
military orders of the servicemember. Ad-
during 2014, but no more than $4,569
............................................... 2.
ditionally, the 2009 amendment to the act
3. Amount of medical savings account earnings included on line 1 of
provides that the wage and salary income of
.............................................................. 3.
your 2014 Ohio form IT 1040
the nonresident spouse of a servicemember
is exempt from the income tax of the state
4. Subtotal (add lines 1, 2 and 3)
............................................................ 4.
in which the servicemember and spouse
............ 5.
5. 2014 withdrawals from the account for nonmedical purposes
are stationed and living, provided that the
6. If line 5 is less than line 4, subtract line 5 from line 4 and enter here
servicemember and spouse are residents
and on line 46b of Schedule A of Ohio form IT 1040
.......................... 6.
of the same state. This provision does not
apply to taxable years prior to 2009.
7. If line 4 is less than line 5, subtract line 4 from line 5 and enter here
and on line 35d of Schedule A of Ohio form IT 1040
.......................... 7.
Military payroll authorities will generally
withhold income tax for the state of legal
Note for lines 1 and 2: Do not show on either line any contribution to medical savings accounts if the contribution
is excluded from box #1 on your federal form W-2, Wage and Tax Statement.
residence shown on the servicemember's
federal form DD 2058. A servicemember
Note for line 5: If any prior year contribution exceeded the deductible limit for that year, contact the Ohio
Department of Taxation at 1-800-282-1780 to help you determine the amount you should enter on line 5 of
who had state income tax withheld in error
this worksheet.
should have the military payroll authorities
- 24 -
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