Partner Data Entry > Ohio tab

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Use the state tabs in the Partner Information window in Partner Data Entry to enter state-specific information for partners. State tabs appear only if you have added states to the return.

To update a partner's state-specific information, click that partner in the Partner Information window, and then click the appropriate state tab.

Fields & buttons

Ohio information group box

Qualified investor owning at least 20%

Mark this checkbox if the Partner / member directly or indirectly owns at least 20 percent of this entity. UltraTax uses this information to calculate add-back of guaranteed payments on Form IT-1140, Page 3 and Form IT-4708, Page 3.

Waive depreciation difference add-back

Mark this checkbox if the depreciation difference add-back has been waived for the current Partner / member.

Note: This checkbox is available only if the current Partner / member owns less than five percent.

Withholding information group box

Qualified investor

Mark this checkbox if the Partner / member is included in the IT-1140 Pass-Through Entity and Trust Withholding Tax Return.

Note: This checkbox is disabled when the Composite filer checkbox is marked for the current Partner / member.

Subject to the corporate franchise tax phase-out

Mark this checkbox if the corporate partner is subject to the franchise tax phase-out. The phase-out rate is used on Form IT-1140.

Use 5% tax

Mark this checkbox if the trust or the grantor trust is subject to a 5% tax rate.

Composite information group box

Composite filer

Mark this checkbox if the Partner / member is included in the IT-4708 Composite Income Tax Return for non C Corporation investors in a pass-through entity.

Notes

  • This checkbox is disabled for corporations that are not S Corporations.
  • This checkbox is disabled for all partners when the IT-4708 Composite checkbox is not marked in the Ohio tab in the Client Properties dialog.
  • This checkbox is disabled when the Qualified investor checkbox is marked for the current Partner / member.

Related topic: Partner Data Entry > State tabs

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