Your Ohio joint filing credit might be missing for a few reasons:
- Qualifying Income: Both you and your spouse must each have at least $500 of qualifying income. Qualifying income includes wages and retirement income but excludes interest, dividends, rental income, and capital gains
- Income Allocation: Ensure that income items (like W-2 forms) are correctly assigned to each spouse
- Deductions and Adjustments: Certain deductions or adjustments, such as excess medical expenses or IRA deductions, might reduce your qualifying income below the $500 threshold
- .The joint filing credit calculates using qualifying income, which excludes income from interest, dividends and distributions, royalties, rents, capital gains, and state or municipal income tax refunds.
- The maximum credit is $650. The credit is a percentage of the tax after all credits are claimed other than the resident, nonresident, part-year resident, and business credits.
- Income Limits: The credit is adjusted downward if your Ohio adjusted gross income (OAGI) exceeds $75,000,
For more details, you can check out these resources:
