Question

In: Accounting

Indicate whether the following is an addition or deduction on the Ohio State Tax Return Schedule...

Indicate whether the following is an addition or deduction on the Ohio State Tax Return Schedule A:

Social Security Benefits:

Small Business Deduction:

Ohio 529 Contributions:

State or municiple income tax refunds:

Unreimbursed long term care premiums:

Solutions

Expert Solution

Social Security Benefits: Deduction Deductable to the extent that they are included in federal adjusted gross income.
Small Business Deduction: Deduction The business income can be deductible to an extent 100% of business income up to $250,000 from the adjusted gross income they report on their Ohio personal income tax return.
Ohio 529 Contributions: Deduction Deduction of purchases of tuition units and contributions to the Ohio Tuition Trust Authority's College Advantage 529 Savings Plan, up to $2,000 per beneficiary per year if these amounts do not qualify as a deduction on page 1 of Federal 1040.
State or municiple income tax refunds: Deduction If you filed a federal 1040 tax return, entitled to a deduction on Ohio tax return for state or municipal income tax refunds
Unreimbursed long term care premiums: Deduction long-term care premiums are deductible in their entirety

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