OHIO I-FILE TAX RETURN
RETURN YEAR 2011
Schedule B - Credits
Retirement Income Credit (this credit will be calculated for you)

To qualify for the Ohio Retirement Income Credit, you must meet all of the following:

  • You received retirement benefits, annuities or distributions that were made from a pension, retirement or profit-sharing plan; AND
  • You received this income because you have retired; AND
  • This income is included in your Ohio adjusted gross income. If box 1 or 2 of your 1099R exceeds your Ohio Adjusted Gross Income as currently displayed in the Retirement Income Credit Worksheet, enter in window 2 of the worksheet the figure currently displayed in the Ohio Adjusted Gross Income Amount window. Your result should reflect identical entries in both windows of the Retirement Income Credit worksheet.

Example: the Ohio Adjusted Gross Income on this worksheet is displayed as $24,000.00. Box 1 or box 2 of your 1099R reflects $25,000.00. Enter $24,000.00 in window 2 of the worksheet to receive your proper credit amount.

Note: your plan provider does not always indicate an amount in both box 1 and box 2 of the 1099R. When the 1099R reflects entries in both box 1 and box 2, enter on   this worksheet the figure from box 2. The plan provider has determined this amount as the taxable portion of your distribution. When the 1099R reflects an entry in box 1 only, enter on this worksheet the figure from box 1.

Note: Social Security, railroad retirement benefits and military retirement income are required to be Schedule A deductions and do not qualify for this credit.

The amount of the credit is as follows:
Amount of qualifying retirement  income received and included in Ohio Adjusted Gross Income during the taxable year: Retirement income credit for the taxable year:
            $500 or less 0

                      0

Over     $500 but not more than $1,500 

                  $25

Over  $1,500 but not more than $3,000 

                  $50

Over  $3,000 but not more than $5,000 

                  $80

Over  $5,000 but not more than $8,000 

                $130

Over  $8,000 

                $200

The maximum credit is $200 per return. If you are filing a joint return, combine the total qualifying retirement income for both spouses to determine the credit from the table.

Note: Retirement buyout amounts, attrition buyout amounts  and other similar amounts reported on IRS form 

W-2 qualify for this credit only if the amounts are paid under a retirement plan.

Example: Bob and Sue are retired and file a joint return. Bob has $5,000 qualifying retirement income included in Ohio Adjusted Gross Income. Sue has $2,000 qualifying retirement income included in Ohio Adjusted Gross Income. Add the two qualifying retirement incomes; the total is $7,000. The table shows a credit of $130 for retirement income of over $5,000 but not more than $8,000. They would be entitled to an Ohio Retirement Income Credit of $130.

Credit for Ohio Adjusted Gross Income less than $10,000.00

This will be calculated for you. No entry is required. If your Ohio Adjusted Gross Income is equal to or less than $10,000.00, I-File will enter a credit of $88.00. 

Senior Citizen Credit

An automatic $50 credit will be given if you were 65 years of age or older prior to January 1, 2012. Only one $50 credit will be given even if you are filing a joint return and you and your spouse are both 65 years of age or older.

If you have taken the Lump Sum Distribution Credit on any previous year's return, you cannot take the $50 Senior Citizen Credit on this year's return or on any future year's return.

For more information, see page 2 of Ohio form LS WKS, which is available on our Web site at tax.ohio.gov.

 

Child and Dependent Care Credit (this credit will be calculated for you)
If your Ohio Adjusted Gross Income is less than $40,000 and if you made payments that qualified for the federal Child and/or Dependent Care Credit, you are entitled to the Ohio Child and Dependent Care Credit.

If your Ohio I-File 1040 adjusted gross income is  $40,000 or more, you're not entitled to this credit.

Displaced Worker Training Credit (this credit will be calculated for you)
Ohio law provides a credit for amounts you pay for qualified job training.  Qualified job training is any training or education which improves your chances of getting a new job after you have lost your previous job.  Job training includes such things as apprenticeships, internships and educational classes.

Such training qualifies for this credit only if you can  answer "YES" to questions 1, 2, and 3 below for yourself or for your spouse if filing jointly:

1.  Did you lose your job because the place where you worked either permanently closed or moved, or because your employer abolished your job or shift?  (Note:  Abolishment of job or shift does not include layoffs resulting from seasonal employment, temporary plant closings for retooling etc.)

2.  During the twelve month period beginning when you lost your job, did you pay for any job training?

3.  While you were receiving job training, were you either unemployed or working no more than 20 hours per week?

 

Ohio Political Contributions Credit

The lesser of the combined total cash contributions you made during the year or $50 ($100 for married filing joint return) to the campaign committee of candidates for any of the following Ohio offices:

  • Governor
  • Lieutenant Governor
  • Secretary of State
  • Auditor of State
  • Treasurer of State
  • Attorney General
  • Chief Justice of the Ohio Supreme Court
  • Justice of the Ohio Supreme Court
  • Ohio Board of Education
  • Ohio Senate
  • Ohio House of Representatives

Ohio Adoption Credit

You can claim a credit against your tax if you adopted a minor child (under 18 years of age) during the taxable year. The amount of credit is $1500 per child adopted. This is a one-time credit per child.

Any unused amounts can be carried forward for up to two years. The adoption must be final and recognizable under Ohio law in the year for which you first claim the credit. We may require documentation to support this credit amount.