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.

Is the Ohio IT K-1 useful for entities or trusts with only Ohio resident investors or beneficiaries?

Yes. Although withholding is not required, the Ohio IT K-1 can be used to assist with the tracking of credits for your resident investors or beneficiaries.  For instance, if the PTE received an Ohio Development Service Agency credit and wanted to reflect the resident investor’s share, it could use the Ohio IT K-1 to easily convey that information to the investor and the Department.