FAQs - School District: Income

I claimed the new Small Business Investor Income Deduction on Ohio form IT 1040. How will this affect the way I file my Universal SD 100?

This deduction does not apply to the Universal SD 100 and must be added back when calculating School District Taxable Income for "traditional" school districts.

For a "traditional" school district, when you complete Schedule A on page 2 of the Universal SD 100, place on line 20 the amount from line 12 of the Ohio IT BUS. This is your small business investor income deduction add-back.

For an "earned income" school district (see FAQ#11), the small business investor income deduction is not subtracted from the amount placed on line 24 and/or 25 on Schedule B on page 2 of  Universal SD 100. Therefore, there is no small business investor income deduction add-back.