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Level 1
September 6, 2020
Question

ohio business income deduction

  • September 6, 2020
  • 1 reply
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Where do you input the wages related to an S Corporation to obtain the Ohio Business Income $250,000 deduction?

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1 reply

Level 4
September 6, 2020

Under State & Local, section #50-"Income".  Add the S Corp on the left side under Business Activity choose S Corp from the drop down list and the Activity Number-or name-that relates to it.   Under the "Income" section, 2nd line "Guaranteed payments or compensation for 20% or more shareholder" enter the S Corp wages for the taxpayer.  It will carry it over to the Ohio IT-BUS schedule.  Good luck!