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Level 3
September 8, 2023
Question

Ohio Schedule IT BUS needing to be filled out Manually?

  • September 8, 2023
  • 1 reply
  • 10 views

I have a client who is an Ohio resident and has a Schedule C that nets $160,000. When I go to the Ohio Tax Return, I would expect to see a deduction of $160,000 from income for the Ohio Business Income Deduction but it doesn't appear. 

1. Am I correct in reading that the $160,000 would be deductible from Ohio income?

2. Why does ProSeries not automatically deduct it when the Federal information flows into the Ohio tax return?

Thank you.

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1 reply

Jim-from-Ohio
Intuit Community Champion
September 8, 2023

The first $ 250,000 of qualfying business income is exempt on the Ohio side but you do have to complete the IT BUS.  ProSeries does not carry it over automatically from the federal.