Instructions For Filing: Personal & School District Income Tax - Department Of Taxation State Of Ohio - 2014 Page 30
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602014 Ohio Forms IT 1040EZ / IT 1040 / Instructions
contribution and the combined interest
adjusted gross income. You can also deduct
If the taxpayer has previously taken a
income from a certain transfer agreement or
income of $420).
lump sum retirement income credit, they
an enterprise transferred under that agree-
cannot take the retirement income credit
Line 46c – Qualifi ed Organ Donor
ment if the income was included in your
on this year's return or any future year's
Expenses
federal adjusted gross income. See Ohio
return to which this taxpayer is a party.
Revised Code section 4313.02.
Note: Retirement buy-out amounts, attrition
Deduct on this line up to $10,000 of quali-
Schedule B –
buy-out amounts and other similar amounts
fi ed organ donation expenses you incurred
reported on federal form W-2 qualify for this
during the taxable year. If your fi ling status
Nonbusiness Credits
credit only if the amounts are paid under a
is married fi ling jointly, each of you can de-
retirement plan.
duct on this line up to $10,000 of qualifi ed
Line 51 – Retirement Income Credit
organ donation expenses you each incurred
Example: Bob and Sue are retired and fi le
during the taxable year. "Qualifi ed organ
To qualify for the Ohio retirement income
a joint return. Bob has $5,000 in qualifying
donation expenses" means unreimbursed
credit, you must meet all of the following:
retirement income included in Ohio adjusted
travel and lodging expenses that you incur
You received retirement benefits, an-
gross income on line 3. Sue has $2,000 in
in connection with your donation, to another
nuities or distributions that were made
qualifying retirement income included in
human being, of your human liver, pan-
from a pension, retirement or profi t-sharing
Ohio adjusted gross income on line 3. The
creas, kidney, intestine, lung or any portion
plan; AND
total of the two qualifying retirement incomes
of your human bone marrow.
You received this income because you
is $7,000. The table above shows a credit
have retired; AND
of $130 for retirement income of more than
You can claim this deduction only once for
This income is included in your Ohio
$5,000, but not more than $8,000. They are
all taxable years. If you claim the deduction
adjusted gross income on line 3. Note:
entitled to claim on line 51 an Ohio retire-
for this year, you cannot claim this deduction
Uniformed services retirement income re-
ment income credit of $130.
in any subsequent year. If your fi ling status
quired to be shown on line 39b and Social
is married fi ling jointly and if you and your
Security and certain railroad retirement
Line 52 – Senior Citizen Credit
spouse both claim the deduction for this year,
benefi ts required to be shown on line 43
both you and your spouse cannot claim this
do not qualify for this credit.
You can claim a $50 credit if you were 65
deduction in any subsequent year. However,
or older before Jan. 1, 2015. If you are fi ling
if your fi ling status is married fi ling jointly but
The Amount of the Credit is as Follows:
a joint return, only one credit of $50 is
only one spouse claims this deduction for this
Line 51
allowed even if you and your spouse are
Amount of qualifying
year, the other spouse can claim the deduc-
retirement income
retirement
both 65 or older.
tion in a subsequent year, regardless of your
during the taxable
income credit
spouse's fi ling status in that subsequent year.
If you take or have previously taken the
year:
for taxable year:
lump sum distribution credit, you can-
You can also deduct matching contributions
$500 or less................................... $
0
not take the $50 senior citizen credit on
that you made to another person's Individual
this year's return or any future year's
More than $500,
Development Account when the account has
return.
but not more than $1,500 .............. $ 25
been established by a county department
More than $1,500,
of human services. For further information,
Line 53 – Lump Sum Distribution Credit
but not more than $3,000 .............. $ 50
contact your local county department of
human services.
More than $3,000,
This credit is available only to individuals
but not more than $5,000 .............. $ 80
65 or older before Jan. 1, 2015. If you
Line 47 – Wage Expense
received a lump sum distribution from
More than $5,000,
a pension, retirement or profit-sharing
but not more than $8,000 .............. $130
Deduct the amount of employer wage and
plan, whether on account of retirement
salary expenses that you did not deduct for
More than $8,000 .......................... $200
or separation from employment, and if
federal income tax purposes because you
you are 65 or older, you may be able to
instead claimed the federal work opportunity
The Maximum Credit Per Return is $200.
take advantage of a special tax treatment
tax credit.
If you are fi ling a joint return, combine the
that uses the $50 senior citizen tax credit
total qualifying retirement income for both
Line 48 – Interest Income from Ohio
multiplied by your expected remaining
spouses to determine the credit from the
life years.
Public Obligations
table above.
Deduct interest income earned from Ohio
public obligations and Ohio purchase obli-
2014 Child Care and Dependent Care Worksheet for Line 54
gations if the interest income was included
in your federal adjusted gross income. You
1. Enter the amount from line 9 of federal form 2441, Child and De-
can also deduct any gains resulting from the
pendent Care Expenses
................................................................... 1.
sale or disposition of Ohio public obligations
2. If line 3 of your Ohio form IT 1040 is less than $20,000, enter 100%
to the extent that the gain was included in
on this line. If line 3 of your Ohio form IT 1040 is equal to or greater
your federal adjusted gross income.
than $20,000, but less than $40,000, enter 25% on this line. All
X
%
Deduct income from providing public ser-
others enter -0- on this line
................................................................ 2.
vices under a contract through an Ohio
3. Multiply line 1 of this worksheet by the rate shown on line 2. Enter
state project (including highway services)
this amount here and on line 54 (Schedule B) of Ohio form IT 1040
... 3.
if the income was included in your federal
- 30 -
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