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Rev. 7/22/22
Ohio IT K-1 10211411
Use only black ink and UPPERCASE letters.
Part I - Investor / Owner / Beneficiary and Entity Information
For calendar year 20 or taxable year beginning and ending Amended K-1
Pass-through entity / Fiduciary filing: IT 1140 IT 4708 IT 4738 Other
Investor’s / owner’s / beneficiary’s SSN / FEIN Entity FEIN NAICS code
Investor’s / owner’s / beneficiary’s name and address Entity name and address Entity type

Foreign State Code Country Code Foreign State Code Country Code
Ownership % Beginning Ending Apportionment Ratio Within Ohio Total Everywhere

Profit-sharing ........... % % Property ............................ /
Loss-sharing ............ % % Payroll............................... /
Ownership of capital % % Sales................................. /
Beneficiary’s income distribution % (trust/estates only) % Total apportionment ratio ......................

Part II - Investor’s / Owner’s / Beneficiary’s Ohio Depreciation Adjustments
Total Ohio
1a. Current year IRC §168(k) bonus depreciation & §179 expense (fraction used __/__) .................... 1a.
b. Total deduction of prior year IRC §168(k) bonus depreciation & §179 expense Ohio add-backs ... 1b.
Prior year Ohio add-backs and related year deduction
Year and add- 20 / 20 / 20 / 20 / 20 / 20 /
back fraction
Add-back
amount
Related
deduction
Part III - Investor’s / Owner’s / Beneficiary’s Share of Ohio Income Total Ohio
2a. Pass-through entity / electing pass-through entity / trust & estate income .......................................2a.
b. Guaranteed payments or compensation (20% or greater investors only) ...........................................b.
c. Net Ohio depreciation adjustment ....................................................................................................... c.
d. Total taxable income (sum of 2a through 2c for each column) ............................................................d.
Part IV - Investor’s / Owner’s / Beneficiary’s Share of Ohio Tax Credits
3. Direct pass-through entity credit (Ohio tax paid by this entity after nonrefundable business credits and refunds) .................... 3.
4. Indirect pass-through entity credits or withholding (attach IT K-1/W2/1099) .............................................................................. 4.

Include the FEIN for any indirect pass-through entities
5. Refundable job creation credit & job retention credit (include certificates) - % of credit claimed % ............................ 5.
6. Refundable Ohio historic preservation credit (include certificates) - % of credit claimed % ........................................ 6.
7. Venture capital credit (include certificates) .................................................................................................................................7.
8. Motion picture & Broadway theatrical production credit (include certificates) - % of credit claimed % ....................... 8.
9. Nonrefundable business credits (include certificates) ................................................................................................................ 9.
List the specific credits
Part V - Supplemental Information

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Preparers completing the IT K-1: use the instructions below.
Investors receiving an IT K-1: use the instructions beginning on page 3.

Instructions for Completing the IT K-1
A PTE, EPTE, or fiduciary should issue the IT K-1 to each investor, owner, or beneficiary that receives income, adjustments, and/or credits.

Use the IT K-1 to report the proportionate or distributive share of Important: If the PTE/EPTE is an investor/owner in another
income, adjustments, and/or credits for any investor, owner, or PTE(s), it must combine its property, payroll and sales amounts
beneficiary. with the amounts reported on any IT K-1 it receives.
Provide a copy to each investor, owner, or beneficiary and include See R.C. 5747.21, 5747.231, and 5733.05(B)(2).
copies of each IT K-1 when filing the IT 1140, IT 4708, IT 4738, or
IT 1041. The IT K-1 can be issued for any tax year, even when the Part II – Investor’s / Owner’s / Beneficiary’s
PTE, EPTE, or fiduciary is not required to file a return.
Depreciation Adjustments
See tax.ohio.gov to obtain a copy of the form and for FAQs (in the
“Pass-Through Entities - OH IT K-1” topic). Line 1a - Current year 168(k) and 179 depreciation expense
Ohio add-back
Part I – Investor / Owner / Beneficiary Enter the add-back fraction that was checked on the Ohio return.
and Entity Information Total Column: Enter the investor’s/owner’s/beneficiary’s propor-
Enter the calendar year or a fiscal year period used on the entity’s tionate or distributive share of the current year 168(k) and 179
federal return. depreciation expense add-back reported on:
● IT 1140 - Schedule II, (A) or (B);
Check the box to indicate which Ohio return the PTE, EPTE, or ● IT 4738 - Schedule II;
trust is filing. If the PTE, EPTE, or trust does not file either the IT ● IT 4708 - Schedule II; OR
1140, IT 4738, or IT 4708, check “Other.” Additionally, check the
box to indicate an amended IT K-1, if applicable. ● IT 1041 - Schedule II.
Ohio Column: Multiply the amount in the “Total” column by the
Investor / beneficiary information apportionment ratio on the IT K-1.
Use the same investor/owner/beneficiary information reported on
the federal K-1. Enter the full SSN or FEIN on the copy of the IT See R.C. 5733.40(A)(5) and 5747.01(A)(18).
K-1 provided to the Department. Line 1b – Total deduction of prior year 168(k) and 179 depre-
Ownership % ciation expense Ohio add-backs
PTEs/EPTEs: Enter the same investor/owner ownership informa- Complete the worksheet below line 1b to calculate these amounts.
tion reported on the federal K-1 for the tax year. Only report prior-year depreciation add-backs for years that
(1) the person was an investor, owner, or beneficiary, and (2)
Fiduciaries: Enter the percentage of income distributed to the ben- the PTE, EPTE or fiduciary filed an Ohio return.
eficiary during the tax year.
Example: ABC LLC has operated in Ohio for 10 years. It filed
Entity Information an Ohio PTE/EPTE return and reported depreciation add-backs
in each year. Joe has been an investor/owner in ABC LLC for 2
Use the same entity information reported on the federal K-1. Enter years. When completing the worksheet on Joe’s IT K-1, ABC LLC
the full FEIN on the copy of the IT K-1 provided to the Department. will only include depreciation add-back amounts for the prior year.
NAICS code: PTEs and EPTEs include their North American It will not include depreciation add-back amounts for years prior to
Industry Classification System (NAICS) code. NAICS codes are Joe becoming an investor/owner.
available at naics.com/search. Ohio Adm. Code 5703-7-01. Add-back amount: Enter the investor’s/owner’s/beneficiary’s pro-
Entity type: Enter the entity type reported on the IT 1140, IT 4708, portionate or distributive share of the add-back for the year entered
or IT 4738. If the PTE, EPTE, or fiduciary does not file an Ohio at the top of the column.
return, enter one of the following: S-corporation, limited liability Related deduction: Using the chart below, multiply the add-back
company, partnership, trust, or other. amount by the appropriate deduction fraction.
Apportionment Ratio
If the PTE, EPTE, or fiduciary is filing an Ohio return, enter the Add-back fraction Deduction fraction
apportionment information from Schedule IV of the IT 4708 or IT 5/6 1/5
4738, Schedule III of the IT 1140 or Schedule X of the IT 1041.
2/3 1/2
If the PTE, EPTE, or fiduciary is not filing an Ohio return, use the
worksheet below to calculate Ohio property, payroll and sales 6/6 1/6
and the Ohio apportionment ratio. Use Ohio property and payroll,
each weighted at 20%, and Ohio sales, weighted at 60%, versus Total Column: Add all the “related deduction” amounts from the
property, payroll, and sales everywhere. If any factor’s “total every- prior-year worksheet.
where” is zero, the weights of the remaining factors must be pro- Ohio Column: Multiply the amount in the “Total” column by the
portionately increased so that the total remains 100%. Report the apportionment ratio on the IT K-1.
apportionment ratio to six (6) decimal places. For detailed instruc-
tions on calculating the Ohio apportionment ratio, see the instruc- See R.C. 5733.40(A)(5) and 5747.01(A)(18).
tions for the IT 4708, IT 4738, IT 1140, or IT 1041.

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Part III - Investor’s / Owner’s / Beneficiary’s Part IV – Investor’s / Owner’s / Beneficiary’s
Ohio Income Share of Tax Credits
Line 2a - PTE / EPTE / trust & estate income Line 3 – Direct PTE credit (tax paid by this entity after any
Total Column: Enter the investor’s/beneficiary’s proportionate or refunds)
distributive share of the income reported on the Ohio return as Enter the investor’s/owner’s/beneficiary’s proportionate or distribu-
follows: tive share of the tax paid and not otherwise refunded to the PTE:
● IT 4708 – The “income to be allocated or apportioned” ● IT 4708 – “Tax liability after nonrefundable business
from Schedule I, excluding Internal Revenue Code 168(k) credits” from Schedule I.
and 179 depreciation expense adjustments, and guaran- ● IT 4738 – “Tax liability” from Schedule I.
teed payments and compensation reported on Schedules ● IT 1140 – “Tax for each column” from Schedule I.
II and III.
● IT 1140 (PTEs only) – The “sum of distributive shares” plus Line 4 – Total Indirect PTE Credit for PTE taxes paid
any “related member” adjustments from Schedule II.
● IT 4738 – The “income to be allocated or apportioned” Enter the investors/owner’s/beneficiary’s proportionate or dis-
from Schedule I, excluding Internal Revenue Code 168(k) tributive share of taxes paid by another PTE/EPTE on behalf of
and 179 depreciation expense adjustments, and guaran- this PTE/EPTE/fiduciary entity. Enter the FEIN of each PTE tier
teed payments and compensation reported on Schedules to the PTE that paid the tax (attach a schedule or flowchart, if
II and III. necessary).
● IT 1140 (Trusts only) – The “sum of all distributions” from Also enter any tax withheld on a W-2 and/or 1099. Provide
Schedule IV. each investor, owner, or beneficiary with a copy of the IT K-1,
W-2, and/or 1099 form. Enter the FEIN for each PTE/EPTE that
For the specific lines related to these amounts, see the IT 4708, withheld tax in the space provided. Note: Exclude PTE credit
IT 4738, or IT 1140 for the applicable tax year. amounts included as a direct PTE credit amount on line 3.
Ohio Column: Multiply the amount of business income from the Lines 5-8, Refundable Business Credits
“Total” column by the apportionment ratio on the IT K-1 and/
or enter the distributive share of any non-apportioned amounts Each investor or beneficiary is entitled to its proportionate or dis-
allocated to Ohio. tributive share of direct and indirect refundable business credits
from the PTE, EPTE, or fiduciary. The credits are not available to
See R.C. 5733.40(A), 5747.08(D) & 5747.40 through 5747.43. an investor or beneficiary if the PTE, EPTE, or fiduciary claims
Line 2b - Guaranteed payments and/or compensation (20% the credit when calculating its Ohio income tax. Provide each
or greater investors only) investor or beneficiary with a copy of the credit certificate.
Total Column: If, at any time during the tax year, the investor held Line 9 – Nonrefundable Business Credits
at least a 20% interest in the profits or capital of the entity, enter Each investor, owner, or beneficiary is entitled to its proportionate
total guaranteed payments (reported in box 4 of a federal K-1) or or distributive share of direct and indirect nonrefundable business
compensation (reported in box 1 of a W-2) paid to the investor. credits from the PTE, EPTE, or fiduciary. Provide each investor,
Important: Enter these amounts even if the investor is a resident owner, or beneficiary with a copy of the credit certificate.
of Indiana, Kentucky, West Virginia, Michigan or Pennsylvania.
Part V - Supplemental Information
Ohio Column: Multiply the amount in the “Total” column by the
apportionment ratio on the IT K-1. Use this section to substantiate any applicable inconsistencies
or discrepancies on this form as compared to federal Schedule
See R.C. 5733.40(A)(7). K-1. Report any Ohio financial institutions tax (FIT) credit (for tax
years 2019 and prior).
Line 2c - Net depreciation adjustment
For each column, line 1a minus line 1b. Ohio IT K-1 is issued by a PTE, EPTE, or fiduciary to its inves-
tors, owners,or beneficiaries (individuals, trusts, estates, PTEs,
Line 2d – Total taxable Income or EPTEs). It contains the investor’s, owner’s, or beneficiary’s
For each column, enter the sum of lines 2a through 2c. distributive share of income, adjustments, and/or credits.

Ohio Apportionment Ratio Worksheet

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                                IT K-1 Investor/Owner/Beneficiary Instructions

               For use by a recipient of an IT K-1 when completing the IT 1040, IT 1041, IT 4738, IT 4708, and/or IT 1140.
The IT K-1 contains the investor’s, owner’s, or beneficiary’s dis-       Exception:  If  an  investor/owner  owns  less  than  5%  of  this  
tributive share of income, adjustments, and/or credits.                  PTE,  the investor is not required to add back this amount.
                                                                         Line 1b – Deduction of prior-year depreciation add-backs
The IT K-1 is commonly used by:
                                                                         If the IT K-1 reports an amount on this line:
●     Individuals filing an IT 1040 and claiming the nonresident 
      credit (using form IT NRC), or refundable / nonrefundable          Individuals: Generally there will be a deduction of prior year IRC 
      business credits (including the pass-through entity credit)        168(k) and 179 depreciation expense add-back on the Ohio 
      on the Ohio Schedule of Credits;                                   Schedule of Adjustments, provided the individual made the add-
●     PTEs and fiduciaries claiming refundable / nonrefundable           back on their own return. 
      business credits on the  IT 4738, IT 4708, IT 1140, and/
      or IT 1041.                                                        ●      IT 1040, Schedule of Adjustments, line 7.
Investors claiming any of the above credits should include a copy        Note: Pursuant to R.C. 5747.01(A)(18), the individual’s add-back 
of the IT K-1 when filing their return.                                  is not transferable to the entity; thus, the Department will disal-
                                                                         low any attempt by the entity to report a deduction based on the 
     Part I – Investor / Owner / Beneficiary                             individual’s IT 1040 add-back.
                 and Entity Information                                  PTEs, EPTEs, and fiduciaries: PTEs and fiduciaries should add 
Tax year: If the PTE, EPTE, or fiduciary completing the IT K-1           the total amount to the applicable line if the corresponding add-
files on a calendar year basis, the investor/owner should use the        backs were made on the prior years’ returns:
IT K-1 for the same calendar year. If the PTE, EPTE, or fiduciary        ●      IT 4708, Schedule III;
files on a fiscal year basis, the investor should use the IT K-1 for     ●      IT 4738, Schedule III;
the return year that includes the fiscal year’s ending date.             ●      IT 1140, Schedule II, columns A and/or B; OR
                                                                         ●      IT 1041, Schedule II.
Entity FEIN: Individuals must report the entity’s FEIN on:
●     Form IT NRC, Section II; AND/OR                                    Note: Add-Back  and  deduction  adjustments  are  reported  on 
●     Ohio Schedule IT BUS, part 4.                                      separate lines on the IT 1040, IT 4738, IT 4708, IT 1140 and IT 
                                                                         1041. Do not net these amounts.
PTEs and fiduciaries do not need to report this number when 
completing the IT 4738, IT 4708, IT 1140, or the IT 1041.                Part III - Investor’s / Owner’s / Beneficiary’s 
Apportionment %: The investor/owner/beneficiary must                                            Ohio Income
include these amounts in the “Within Ohio” portion and the “Total 
Everywhere” portion of the property, payroll, and sales factor           Line 2a –PTE / EPTE / trust & estate income
calculations on:                                                         This is the total and Ohio portion of this PTE’s, EPTE’s, or fidu-
●     Form IT NRC, Section III, Part A;                                  ciary’s income.
●     Form IT NRCE Section III, Part A;
●     IT 4738, Schedule IV;                                              Individuals: Add the Ohio portion of this line to the Ohio portion of 
●     IT 4708, Schedule IV;                                              line 2b and report the total on the IT NRC in Section II, Column 
●     IT 1140, Schedule III; OR                                          C, “Ohio Apportioned Income”.
●     IT 1041 Schedule X.                                                PTEs: Do not report these amounts when completing the IT 4708 
Note: If the PTE, EPTE, or fiduciary has received multiple IT            or IT 1140.
K-1s, it must aggregate the apportionment information from each 
IT K-1 when completing the IT 4738, IT 4708, IT 1140, and/or IT          EPTEs: Do not report these amounts when completing the IT 
1041.                                                                    4738.
Note: Certain individuals may not be required to complete Form           Trusts: Report the total portion of this line on Schedule VII of the 
IT NRC, Section III. See the instructions for the IT NRC.                IT  1041.  Do  not  report  the  Ohio  portion  of  this  line  when 
                                                                         completing the IT 1041.
Part II - Investor’s / Owner’s / Beneficiary’s                           Estates:  Report  the  total  portion  of  this  line  on  the  IT  
         Ohio Depreciation Adjustments                                   NRCE  in Section II, column A and the Ohio portion in column C.
Line 1a – Current year depreciation add-back                             Line 2b – Guaranteed payments / compensation
If the IT K-1 reports an amount on this line:                            If an investor/owner directly owns at least 20% of this entity, this 
                                                                         line is the  total  and  Ohio  portion  of  any  guaranteed  pay-
Individuals: Generally there will be an IRC 168(k) and 179 depre-        ments  or compensation paid by this entity.
ciation expense add-back on the Ohio Schedule of Adjustments.
                                                                         Individuals: Add the Ohio portion of this line to the Ohio portion of 
PTEs, EPTEs, and fiduciaries: PTEs and fiduciaries should add            line 2a and report the total on the IT NRC in Section II, Column 
the total amount to Schedule II of the IT 4738, IT 4708, IT 1140,        C, “Ohio Apportioned Income”.
and/or IT 1041.
                                                                         PTEs, EPTEs, and trusts: The PTE, EPTE, or trust should add 
Note (trusts only): If a trust retains 100% of its earnings,             the total amount as applicable:
then this amount  should  be  reported  on  its  IT  1041.  How-         ●      IT 4708, Schedule II; 
ever,  if  a  trust distributes  100%  of  its  earnings,  then  this    ●      IT 4738, Schedule II; OR
amount  should  be reported to its beneficiaries on an IT K-1.           ●      IT 1140, Schedule II.
If a trust retains only a portion of its earnings, the trust will split 
this amount between its IT 1041 and the IT K-1s it issues to its         Trusts and estates do not need to report this number when com-
beneficiaries.                                                           pleting the IT 1041.

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Note: If an investor/owner directly or indirectly owns at least Development (ODOD). Include a copy of the ODOD certificate
20% of this entity, it is required to report any guaranteed pay- and this IT K-1 when filing the return. Refundable business cred-
ment or compensation paid by this entity, even if an amount is not its include the:
reported on this line. ● Job creation and job retention tax credits;
Line 2c – Net Ohio depreciation adjustment (Individual Inves- ● Ohio historic perseveration tax credit;
tors and Estates ONLY) ● Ohio venture capital credit; AND
● Motion picture and Broadway theatrical production credit.
This is generally line 1a minus line 1b. An individual should report
the total on the IT NRC in Section II, Column B, Ohio Deprecia- Individuals: You should report these credits on the corresponding
tion Adjustment. An estate should report the total on the IT NRCE lines of the “Refundable Credits” section of the Ohio Schedule of
in Section II, Column B, Ohio Depreciation Adjustment. Credits.
You cannot use this amount if you did not make each PTEs and fiduciaries: To the extent the PTE or fiduciary reports
of the add-backs shown in the chart below line 1b. the income from this IT K-1, it can also report these credits on the
See the instructions for the IT NRC or IT NRCE. corresponding lines of:
● IT 4708, Schedule V; OR
Part IV - Investor’s / Owner’s / ● IT 1041, Schedule XII.
Beneficiary’s Ohio Tax Credits These credits cannot be claimed on an IT 4738 or IT 1140.
Lines 3 and 4 – Direct/ indirect pass-through entity credits Line 9 – Nonrefundable business credits
Line 3 is the portion of income tax paid, after nonrefundable cred- This is the portion of any nonrefundable business credits granted
its and refunds, by this entity on its investor’s behalf (the “direct to the entity. The specific credits will be listed in the space pro-
pass-through entity” credit). Line 4 is the portion of tax paid by vided.
another entity on this entity’s behalf (the “indirect pass-through
entity” credit). These credits can only be claimed on the IT 1040, Individuals: Report these amounts on the corresponding lines of
IT 4708, and IT 1041; they cannot be claimed on the IT 4738 or the “Nonrefundable Credits” section of the Ohio Schedule of
IT 1140. Credits.
Add lines 3 and 4 together and report the total on the “pass-through PTEs and fiduciaries: To the extent the PTE or fiduciary reports
entity credit” line of one of the following: the income from this IT K-1, it can also report these credits on the
corresponding lines of:
● Individuals: the Ohio Schedule of Credits;
● PTEs: the IT 4708, Schedule V; OR ● IT 4708, Schedule I; OR
● Trusts: the IT 1041, Schedule XII. ● IT 1041, Schedule I.
Note: A PTE or trust can only claim these credits to the extent These amounts cannot be claimed on an IT 4738 or IT 1140.
it also reports any income reflected on the IT K-1 on its return.
If the income is reported by an investor or a beneficiary, these Part V - Supplemental Information
credit amounts should be reported as an “indirect” credit on the IT
K-1 issued to them. This section contains any additional information or instructions
that the PTE, EPTE, or fiduciary who completed the IT K-1 wants
Lines 5-8 – Refundable business credits to convey to the investor, owner, or beneficiary.
This is the proportionate and distributive share of any refundable
business credits granted to the entity by the Ohio Department of

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