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ohio business income deduction
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spmacintosh
Level 1
09-06-2020
07:29 AM
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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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Bobby200
Level 3
09-06-2020
08:18 AM
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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!
