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Ohio Preparers - Form IT Bus

GodFather
Level 8

I have a small Schedule C on the federal return.  Net income of $3,054.  When preparing the Ohio return, it is using that $3,054 as a negative adjustment on the Schedule of Adjustments.  Is that correct? 

This is the first Ohio return I've prepared and I feel i must be doing something incorrectly.  Would appreciate your feedback.  Thank you. 

Adding screenshots from the Ohio 1040, IT Bus, Fed/State Depr Adjustment, and the Schedule of Adjustments. IT 1040.jpgIT Bus.jpgSchedule of Adjustments.jpgFed State Depr Adjustments.jpg

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2 Comments 2
Terry53029
Level 14
Level 14

From Ohio website. https://tax.ohio.gov/individual/Business-Income-Deduction

Ohio taxes income from business sources and nonbusiness sources differently on its individual income tax return (the Ohio IT 1040). The first $250,000 of business income earned by taxpayers filing “Single” or “Married filing jointly,” and included in federal adjusted gross income, is 100% deductible

GodFather
Level 8

Thank you.  Ohio is business friendly.  

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