Are the Ohio Schedule A adjustments for I.R.C. §168(k) bonus depreciation and §179 depreciation expense included as a business income on the IT BUS?
These adjustments do not constitute “business income” and thus should not be included on the IT BUS. They are adjustments claimed on an individual’s personal return, and are not items of business gain or loss. See R.C. 5747.01(A)(31) and 5747.01(B).
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