Frequently Asked Questions

The Ohio Department of Taxation has compiled a list of frequently asked questions covering many different categories.

To view the questions, click on the "Select Category" bar and then click on the category you are interested in.  A list of questions will appear pertaining to that category. Then click on the question you are inquiring about and the answer will appear.

If the Pass-through entity files a 4708 composite return versus an 1140 withholding return, can the individual still take advantage of the Small Business Investor Income deduction?

  • The entities choice of filing does not impact the individual's ability to take the Small Business Investor Income deduction. However, please note that the deduction may only be claimed by an individual on an IT-1040 and may not be claimed on the IT-4708 or IT-1140. As indicated in FAQ #5, an entity may not claim the deduction.