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.

Should business losses be reported on the IT BUS?

Yes, if they are included in the calculation of federal adjusted gross income. For example, a taxpayer that reports a gain from one sole proprietorship on federal Schedule C and a loss from another should net the amounts together and report the sum on line 2 of the IT BUS. If the net business income from any of the federal schedules is negative, the taxpayer should place a negative in the box provided.