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Level 1
June 1, 2019
Question

Ohio business income deduction

  • June 1, 2019
  • 2 replies
  • 26 views
Because I have business income (schedule C) turbo tax wants me to consdier this credit. Can I claim it if I earned my income in MA? I was a part year resident in MA and OH, earning my real estate commissions in MA.

2 replies

Level 15
June 1, 2019

Yes. The deduction is based on all business income regardless of source and residency. Please read number three and four, in the Ohio link below.

http://www.tax.ohio.gov/Business/faqs/BusinessIncomeDeductionFAQ.aspx

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Hal_Al
Level 15
Level 15
June 1, 2019
Beware of double dipping. You cannot count income you deducted under the Small Business deduction for the credit for taxes paid to another state