Instructions For Filing: Personal & School District Income Tax - Department Of Taxation State Of Ohio - 2014 Page 26
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602014 Ohio Forms IT 1040EZ / IT 1040 / Instructions
Line 40c – Repayment of Income
We may later ask you for a copy of the di-
duced by deductions from business income
vorce agreement and federal form 1099-R
and apportioned or allocated to Ohio under
Reported
as verification for the deduction. Note:
Ohio Revised Code 5747.21 and 5747.22
Child support receipts, regardless of the
to the extent not otherwise deducted or
Enter on this line any amount of income
source, are not included in federal adjusted
excluded in computing federal or Ohio
that you paid back in a subsequent year
gross income, so you cannot deduct these
adjusted gross income for the taxable year.
if that amount meets the following three
amounts.
As such, business income as reported on
requirements:
the taxpayer's federal 1040 Schedules
For federal income tax purposes you
Military Injury Relief Fund. Also enter on
C, E and F will be used in calculating the
claimed either (i) an itemized deduction on
this line military injury relief fund amounts
deduction. The deduction will be available
Schedule A of your 2014 federal income
that you reported on line 1 (federal adjusted
on Schedule A of the Ohio form IT 1040. In
tax return for the amount repaid OR (ii)
gross income). You do not have to include
order to take this deduction, you must com-
a tax credit on your 2014 federal income
in federal adjusted gross income, and you
plete the IT SBD – Small Business Investor
tax return based upon the amount repaid;
cannot enter on line 39b, those military
Income Deduction Schedule (available at
AND
injury relief fund amounts you received on
tax.ohio.gov). Note: The deduction will not
You do not deduct this amount on any
account of physical injuries or psychologi-
impact the calculation of a taxpayer's school
other line on your Ohio tax return for this
cal injuries, such as post-traumatic stress
district income tax liability. Instead, it will
year or any other year; AND
disorder, if those injuries are a direct result
be added back to Ohio taxable income for
In the year you received the income,
of military action in Operation Iraqi Free-
school district income tax purposes.
the income did not qualify for either the
dom or Operation Enduring Freedom. But
resident or nonresident/part-year resident
Line 42 – Disability and Survivorship
you must include on lines 1 and 39b any
credits on Schedules C or D of your Ohio
other military injury relief fund amounts
Benefi ts
income tax return.
you received.
You may deduct the following:
For information about miscellaneous fed-
Line 40a – State or Municipal Income
Benefi ts from an employee's disability
eral tax adjustments, see our Web site at
Tax Overpayments
plan paid as the result of a permanent
tax.ohio.gov.
physical or mental disability. Note: The
Line 41 – Small Business Investor
Did you fi le a 2014 federal form 1040A or
disability must be (or presumed to be)
1040EZ? If "Yes," you do not qualify for this
Income Deduction
permanent. "Disability" means a perma-
deduction.
nent physical or mental impairment that
For taxable years beginning on or after
makes you unable to work for pay in jobs
If you fi led a federal form 1040, then you may
Jan. 1, 2014, an individual taxpayer fi ling
for which you are qualifi ed by training and
be eligible for the state or local income tax
the Ohio form IT 1040 is allowed a deduc-
experience.
refund deduction on line 40a.
tion amounting to 75% of the taxpayer's
Survivorship benefi ts paid from a qualifi ed
Ohio small business investor income up to
survivorship plan as the result of the death
Refer to line 10 of your 2014 federal form
$250,000. The deduction cannot exceed
of a covered employee.
1040 and enter this amount. If line 10 is
$93,750 for each spouse fi ling separately
blank, you are not entitled to this deduc-
You may not deduct the following:
or $187,500 for all other taxpayers.
tion.
Payments that otherwise qualify as retire-
"Ohio small business investor income"
ment or pension benefi ts. Upon reaching
Line 40b – Refund or Reimbursement
means the portion of a taxpayer's adjusted
your plan's minimum retirement age, the
for Itemized Deductions
disability benefi ts received under that plan
gross income that is business income re-
Deduct refunds or reimbursements of ex-
Portion of Certain College Grants
penses you originally deducted on a prior
year federal income tax return if the following
Used To Pay Room and Board for Line 44b
conditions are met:
The refund or reimbursement was includ-
1. Enter the amount of Pell Grant(s) and/or Ohio College Opportunity
ed in your federal adjusted gross income
Grant(s) that you received in 2014. This is reported on a letter re-
on your 2014 federal income tax return,
.............................................. 1.
ceived from your educational institution
form 1040, line 21; AND
2. Enter the portion of line 1 used to pay qualifi ed education expenses,
The expense for which you were refunded
including tuition and fees, course-related expenses such as books,
or reimbursed was deducted as an item-
........ 2.
supplies, equipment and any special fees required for a course
ized deduction on Schedule A of a prior
3. Enter here line 1 minus line 2. If -0-, you are not eligible for the Pell
year federal income tax return.
Grant and/or Ohio College Opportunity Grant deduction. If greater
Example: Sue claimed an itemized deduc-
............................................................................ 3.
than -0-, go to line 4
tion of $500 for medical expenses on her
4. Enter here the portion of line 3 that you reported as a taxable amount
2013 federal income tax return. In 2014 she
on line 7 of federal form 1040; line 1 of federal form 1040EZ; or line
received a medical expense reimbursement
7 of federal form 1040A. If -0-, you are not eligible for the Pell Grant
for $200 from her insurance company, and
and/or Ohio College Opportunity Grant deduction. If greater than -0-,
she reported the $200 on line 21 of her 2014
.......................................................................................... 4.
go to line 5
federal income tax return. Sue is entitled to
5. Enter here the portion of line 4 applied to room and board expenses
deduct the $200 reimbursement on line 40b
only. Also enter this amount on line 44b of Schedule A on Ohio form
of this return.
IT 1040
................................................................................................ 5.
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