taxgirl0216
Level 3
09-08-2023
06:44 AM
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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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Level 12
09-08-2023
07:33 AM
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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.