Question

Ohio Business Income deduction and joint filing credit

Forum|Forum|5 years ago
March 16, 2021
1 reply
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My spouse only has qualifying business income which is fully deductible; therefore it looks like we don't qualify for the joint filing credit this year. Do I need to deduct all of his business income or can I allocate just enough so that he will have the $500 of qualifying income? He really doesn't have that much business income and did not take any retirement income this year and if I only allocate a portion of his income for the deduction we would qualify for the joint filing credit which would end up giving us a larger refund. Thanks!

TurboTax Home & Biz Windows

AmyC

The IRS expects you to take every deduction to which you are entitled.

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poseypatchAuthor

I'm talking about the Ohio state tax, not Federal

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timmar93

Did you ever get an answer to this? Because I think TurboTax is NOT considering which situation is better (Taking the business income deduction or the joint filing credit)