Hal_Al
Level 15

Business & farm

I suspect that you have heard from the Ohio dept. of Taxation (ODT) that you failed to deduct your rental losses from the business income that you claimed Ohio’s Business Income Deduction (BID) for (Form IT BUS).

 

TurboTax  (TT) does not know or assume which of your business income, or losses, from federal schedules C, D, and E (or other forms) qualify for BID.  You have to do that manually. In the TT Ohio interview, you will be asked to enter your qualifying income (and losses) form the federal schedules that qualify..  

 

This has been frequent thing with ODT.  The common example: you must reduce the business profit shown on Schedule C by the rental losses on Sch E (if your rental qualifies as business income, most do). It is not optional.  

 

If you got a bill from ODT, it's probably accurate and you should  just pay it

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