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Screen OJCC - City Business (1040)

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Overview

Use this screen to calculate Schedule C income for the Ohio cities.

General Information

Information in this section is transferred from the federal screens on a unit-by-unit basis.
Business address
The application defaults to the home address if all address fields are left blank.
Accounting method / If other:
The Columbus return reports the accounting method, which defaults to
Cash
 if not entered.
Statutory employee
When this field has data, this business activity has no impact on the tax return.
Inactive activity for
When this field is marked, data entered for this activity has no impact on the tax return.
Dates of operation in : From / To
If the taxpayer changed residences during the year and this activity wasn't in operation for the full year, enter the dates of operation. These dates are used to allocate income or loss among part-year resident cities. If not entered, the default are from January 1 to December 31.

Income or Loss

Use this section to enter business income or loss. Information for
Net income or (loss) from federal Schedule C
 is transferred from the federal Schedule C and is before at-risk and passive loss limitations. Enter net operating loss carryover from a previous year on the specific city
General Information
 screen.
Percent of federal allocated to the city
Enter the percentage of federal net income to allocate to one or more Ohio cities. This percentage is multiplied by the net income or loss to calculate the allocated net income or loss. Enter
100.00
 to allocate all of the federal income.
Allocated net income or (loss) from Schedule C
This field shows the amount of federal income or loss multiplied by the percentage in
Percent of federal allocated to the city
. Nonresident Ohio city returns use the allocated net income or loss amount. To allocate the income or loss across multiple nonresident Ohio cities, use the Schedule Y allocation or the Allocation by Amount option.

Allocation by Percentage

Allocation applies to nonresident city returns. The amount to be allocated may be changed in the Income or loss section of this screen.
Value of property / ... / Gross receipts
Enter the city code and amounts for value of property, annual rent multiplied by 8, payroll, and/or receipts to complete Schedule Y allocations for nonresident cities. The total of each allocation factor in this statement will need to equal 100 percent of the gross. Enter city code
NTC
 for allocations to non-taxing municipalities.

Allocation by Amount

Use this section to allocate income and expenses related to this activity among multiple cities. This is an alternative to allocation by percentage. Any information entered in the statement window overrules the federal income or loss.
City amount
Enter the city code, and then enter any amounts under the income heading in the statement window. Detailed income and expense amounts are reported on the Columbus return; other city returns report only the net profit or loss.

City Specific Information

Use this section to enter city-specific information relating to this business activity.
Toledo withholding taxes paid to:
Enter name and address for rents paid, to be reported on Columbus Form IR-25, Part E. Enter name, address, and employer ID number for withholding taxes payee, to be reported on Toledo Schedule Y-1 - Reconciliation of Schedule Y Wages to Withholding Returns.
Were 1099-Misc forms issued to Toledo residents or anyone working in Toledo
Enter
1
 for Yes,
2
 for No. Response is reported on Toledo Schedule Y-1 - Reconciliation of Schedule Y Wages to Withholding Returns.

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