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Level 4
December 7, 2019
Solved

Ohio IT 4708 - A NY resident owns rental property in Ohio. I understand I have to file IT 4708 and pay tax but it seems I can then file IT 1040 and take credit?

  • December 7, 2019
  • 1 reply
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He owns the property through his S Corp. Is that correct and isn't that just a waste of time? I pay the tax with 4708 but then get refund on IT 1040? 

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Best answer by TAXOH

If it's an individual taxpayer I don't believe you would file form 4780 and would just file IT 1040 for a non resident.   

1 reply

TAXOH
TAXOHAnswer
Level 10
December 7, 2019

If it's an individual taxpayer I don't believe you would file form 4780 and would just file IT 1040 for a non resident.   

JOEPCPAAuthor
Level 4
December 7, 2019
Thanks, sorry I did forget to mention he owns the property through his S Corp so the 4708 is necessary.