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Common questions about Ohio additions in Lacerte
by Intuit•1• Updated 5 months ago
Below, you'll find answers to frequently asked questions about Ohio additions:
How do you enter tuition investments in an Ohio CollegeAdvantage 529 savings plan?
Per the Form IT 1040 instructions, you may deduct up to $4,000 in contributions per beneficiary each year.
To enter 529 CollegeAdvantage savings plan contributions:
- Go to Screen 51, Modifications.
- Under the St. Mod. panel, select Ohio.
- Under the College Savings Acct. panel, select the correct activity.
- If it's the first activity, select 1.
- Under the section Ohio College Variable Account and Tuition Credits, complete the Beneficiary Name and Current year account contributions fields.
- Compete any other applicable information on this screen.
- The entries will now flow to Form IT 1040.
Form IT-DA, Affidavit of Non-Ohio Residency/Domicile is generating, but Form IT-1040 still generates. Why?
Lacerte is designed so that either Form IT-1040 or Form IT-10 will generate with Form IT-DA. It suppresses only one form.
To suppress Form IT-1040 instead of Form IT-10:
- Go to Screen 57, Other.
- Under the St. Other panel, select Ohio Income Tax Information Notice.
- Per the note under the Ohio Income Tax Information Notice section, make an entry in this screen to suppress Form IT-1040.