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Screen OJCK1 - City Schedule K-1, Partnership and S Corporation (1040)
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Overview
Use this screen to calculate partnership and S Corporation income for the Ohio cities. For tax years 2016 and later, distributions from partnerships often are omitted from nonresident work city returns since they're no longer defined as taxable income to nonresident individuals per Ohio Revised Code Section 718.01(B)(2). S Corporation income is excluded from city returns by default, unless the field is marked to include S Corporation income.
General Information
Information in this section is transferred from the federal screens on a unit-by-unit basis.
City code and name
The city code is automatically transferred from UltraTax/1040. Select the city code from the dropdown list. UltraTax CS automatically enters the city name.
Include S corporation income
S corporation income is excluded from city returns by default. Enter
X
to include S corporation income.Inactive activity for / Partnership gain or loss is taxable to
To exclude this activity from resident and nonresident returns, enter
X
in Inactive activity for
.Partnership income generally is reported as taxable gain or loss to resident cities, and to nonresident work cities except Akron, Brice, Canal Winchester, Columbus, Groveport, Harrisburg, Marble Cliff, Obetz, and Toledo. Some cities may instruct that partnership activities should be omitted from their return if the partnership filed at the entity level. To include this partnership activity as taxable income on the resident return and nonresident work city return, enter code
1
or blank. To exclude this partnership activity from the nonresident work city return but report it as taxable on the resident return, enter code 2
. To exclude this activity from all returns, enter code 3
.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 resident cities.
Income and Directly Allocable Deductions
Use this section to enter income and deductions. Information for the income, payment, and deduction fields is transferred from the federal Schedule K1 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.Ordinary income or (loss) from trade or business / … / Unreimbursed partner expense
Amounts are transferred from the Federal column of the federal
K1-2
and K1-3
screens.note
To allocate the income or loss across multiple nonresident Ohio cities, use the Schedule Y allocation or the Allocation by Amount option.
Taxes
Use this section to provide city-specific information not entered elsewhere in UltraTax CS.
City tax paid by partnership or S corporation
Enter the city code and amount of city tax paid by the partnership or S corporation to that city in this statement window.
Allocations
Use this section to allocate income based on various factors to multiple nonresident cities. The Schedule Y business allocation formula is available for nonresident city returns. Allocation applies to net profit or loss as shown, or allocation by amount if present.
Value of property / … / Gross receipts
Enter the city code and the city amounts for value of property, annual rent multiplied by 8, payroll, and receipts in the statement window attached to this field. Schedule Y allocations can be entered in this field for as many nonresident cities as necessary. 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: Partnership
For partnerships only. Use this statement windows to allocate net income or loss related to this activity among multiple cities. These net amounts are reported on the line of the city return. Any information entered in the statement window replaces the federal income or loss. For part-year residents of one or more RITA cities, also complete
City of Residence (Part-Year only)
. Use a separate line item for each city where income was earned and the city of residence when it was earned. For example, if taxpayer earned income in six cities while living in two cities, use twelve line items of allocation.Allocation by amount: S corporation
For S corporations only. Use this statement window to allocate net income or loss related to this activity among multiple cities. These net amounts are reported on the line of the city return. Any information entered in the statement window replaces the federal income or loss. For part-year residents of one or more RITA cities, also complete
City of Residence (Part-Year only)
. Use a separate line item for each city where income was earned and the city of residence when it was earned. For example, if taxpayer earned income in six cities while living in two cities, use twelve line items of allocation.City Specific Information
Use this section to enter city-specific information.