Form Ft 1120 - Corporation Franchise Tax Report - 2011 Page 3
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82011
Corporation name
Franchise tax I.D.#
Tax year
FT 1120
Rev. 10/10
Schedule B-4 – Bonus Depreciation and Section 179 Adjustment
(b)
(c)
(a)
R.C. 5733.04(I)(17) and (I)(18). See the department’s information releases
To Schedule C
To Schedule C
Schedule B
dated Nov. 7, 2002 and July 31, 2002 – revised June 2004, available on our
Allocable
Allocable
Web site at tax.ohio. gov.
to Ohio
Everywhere
1. Enter in column (a) of this schedule and include on Schedule B, line 1(e)
the sum of (i) 5/6 of the I.R.C. section 168(k) bonus depreciation amount
1
deductible in determining federal taxable income for the taxable year
and
(ii) 5/6 of the “qualifying section 179 depreciation expense”
2
deductible in
determining federal taxable income for the taxable year. However, if the
taxpayer is a member of a combined report, enter here and include the sum
on Ohio form FT 1120C, Schedule B (Combined), line 2(e).
2. Enter in column (b) the portion of the amount on line 1 that is related to
Schedule C nonbusiness income allocable to Ohio.
3. Enter in column (c) the portion of the amount on line 1 that is related to
Schedule C nonbusiness income allocable everywhere.
4. Enter in column (a) 1/5 of the amount entered on Schedule B-4, line 1 of the
2010 franchise tax report. That is, enter 1/5 the sum of (i) the I.R.C. section
168(k) bonus depreciation amount included on Schedule B-4, line 1 of the
2010 franchise tax report and (ii) the “qualifying section 179 depreciation
expense” amount included on Schedule B-4, line 1 of the 2010 franchise
tax report.
5. If on the 2010 report the taxpayer entered an amount in Schedule B-4, line
2, enter in column (b) 1/5 of that amount.
6. If on the 2010 report the taxpayer entered an amount in Schedule B-4, line
3, enter in column (c) 1/5 of that amount.
7. Enter in column (a) 1/5 of the amount entered on Schedule B-4, line 1 of the
2009 franchise tax report. That is, enter 1/5 the sum of (i) the I.R.C. section
168(k) bonus depreciation amount included on Schedule B-4, line 1 of the
2009 franchise tax report and (ii) the “qualifying section 179 depreciation
expense” amount included on Schedule B-4, line 1 of the 2009 franchise
tax report.
8. If on the 2009 report the taxpayer entered an amount in Schedule B-4, line
2, enter in column (b) 1/5 of that amount.
9. If on the 2009 report the taxpayer entered an amount in Schedule B-4, line
3, enter in column (c) 1/5 of that amount.
10. Enter in column (a) 1/5 of the amount entered on Schedule B-4, line 1 of the
2008 franchise tax report. That is, enter 1/5 the sum of (i) the I.R.C. section
168(k) bonus depreciation amount included on Schedule B-4, line 1 of the
2008 franchise tax report and (ii) the “qualifying section 179 depreciation
expense” amount included on Schedule B-4, line 1 of the 2008 franchise
tax report.
11. If on the 2008 report the taxpayer entered an amount in Schedule B-4, line
2, enter in column (b) 1/5 of that amount.
12. If on the 2008 report the taxpayer entered an amount in Schedule B-4, line
3, enter in column (c) 1/5 of that amount.
13. Enter in column (a) 1/5 the amount entered on Schedule B-4, line 1 of the
2007 franchise tax report. That is, enter 1/5 the sum of (i) the I.R.C. section
168(k) bonus depreciation amount included on Schedule B-4, line 1 of the
2007 franchise tax report and (ii) the “qualifying section 179 depreciation
expense” amount included on Schedule B-4, line 1 of the 2007 franchise
tax report.
14. If on the 2007 report the taxpayer entered an amount in Schedule B-4, line
2, enter in column (b) 1/5 of that amount.
15. If on the 2007 report the taxpayer entered an amount in Schedule B-4, line
3, enter in column (c) 1/5 of that amount.
Continued on next page
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