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Ohio Business Income
Extracted from PDF file 2022-ohio-schedule-it-bus.pdf, last modified July 2022Business Income
2022 Ohio Schedule IT BUS Business Income Use only black ink/UPPERCASE letters. Primary taxpayer’s SSN 22260102 Sequence No. 5 Enter all business income that you (and your spouse, if filing jointly) received during the tax year on this schedule. Enter only those amounts that are included in your federal adjusted gross income. Only one IT BUS should be used for each return filed. See R.C. 5747.01(B). Use whole dollars only. Part 1 – Business Income From IRS Schedules Note: Do not include amounts listed on the IRS schedules below that are nonbusiness income. See R.C. 5747.01(C). If the amount on a line is negative, place a “-“ in the box provided. 1. Schedule B – Interest and Ordinary Dividends.........................................................................................................1. 2. Schedule C – Net Profit or Loss From Business (Sole Proprietorship)....................................................... ....2. 3. Schedule D – Capital Gains and Losses..................................................................................................... ....3. 4. Schedule E – Supplemental Income and Loss........................................................................................... ....4. 5. Guaranteed payments or compensation from a pass-through entity to a 20% or greater direct or indirect owner.......................................................................................................................................................5. 6. Schedule F – Net Profit or Loss From Farming........................................................................................... .... 6. 7. Other business income or loss not reported above (e.g. form 4797 amounts)........................................... ....7. 8. Total business income (add lines 1 through 7)............................................................................................ ....8. Part 2 – Business Income Deduction 9. Enter the lesser of line 8 above or Ohio IT 1040, line 1. If negative, enter zero; stop here and do not complete Part 3......................................................................................................................9. 10. Enter $250,000 if filing status is single or married filing jointly; OR Enter $125,000 if filing status is married filing separately.......................................................................................10. 11. Enter the lesser of line 9 or line 10. Enter here and on Ohio Schedule of Adjustments, line 11.................................... 11. Part 3 – Taxable Business Income Note: If Ohio IT 1040, line 5 is zero, do not complete Part 3. 12. Line 9 minus line 11.................................................................................................................................................12. 13. Taxable business income (enter the lesser of line 12 above or Ohio IT 1040, line 5). .Enter here and on Ohio IT 1040, line 6............................................................................................................................................13. 14. Business income tax liability – multiply line 13 by 3% (.03). Enter here and on Ohio IT 1040, line 8b.......................14. Do not write in this area; for department use only. 2022 Schedule IT BUS – page 1 of 2 . 2022 Ohio Schedule IT BUS Business Income Primary taxpayer’s SSN 22260202 Sequence No. 6 Part 4 – Business Sources List all sources of business income, with Ohio sources listed first. Also separately list your ownership percentage and/or your spouse’s ownership percentage (if filing jointly). If necessary, complete additional copies of this page and include with your return. 1. FEIN / SSN Business name 2. FEIN / SSN Business name 3. FEIN / SSN Business name 4. FEIN / SSN Business name 5. FEIN / SSN Business name 6. FEIN / SSN Business name 7. FEIN / SSN Business name 8. FEIN / SSN Business name Primary ownership . Spouse’s ownership % Primary ownership . % % % % % . % . % . % Spouse’s ownership % Primary ownership . % Spouse’s ownership Primary ownership . . Spouse’s ownership Primary ownership . % Spouse’s ownership Primary ownership . . Spouse’s ownership Primary ownership . % Spouse’s ownership Primary ownership . . . % Spouse’s ownership % . % 2022 Schedule IT BUS – page 2 of 2
Schedule IT BUS
More about the Ohio Schedule IT BUS Individual Income Tax
Enter all business income that you (and your spouse, if filing jointly) received during the tax year on this schedule. Enter only those amounts that are included in your federal adjusted gross income.
We last updated the Business Income in February 2023, and the latest form we have available is for tax year 2022. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Ohio Department of Taxation. You can print other Ohio tax forms here.
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TaxFormFinder has an additional 82 Ohio income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form IT 1040ES | Income Tax Estimated Payment Vouchers and Instructions |
| Individual Tax Instructions | Individual Income Tax Instruction Booklet |
| Income Tax Instructions | Income Tax Instruction Booklet |
| Form IT 1040 | Ohio Individual Income Tax Return Bundle |
| Form IT SD 100 | School District Income Tax Return |
View all 83 Ohio Income Tax Forms
Form Sources:
Ohio usually releases forms for the current tax year between January and April. We last updated Ohio Schedule IT BUS from the Department of Taxation in February 2023.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Ohio Schedule IT BUS
We have a total of two past-year versions of Schedule IT BUS in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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