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SCHEDULE OF INCOME FROM OTHER THAN WAGES
RETURNS WILL NOT BE ACCEPTED WITHOUT COPIES OF FEDERAL SCHEDULES C, E, F, FORMS 1120, 1120S, FORM 1065 WHEN APPLICABLE. MUST INCLUDE ALL PAGES,
SCHEDULES & STATEMENTS
TAX CREDIT ALLOWED FOR TAX PAID
INCOME OR LOSS FROM TO OTHER CITIES
FORM OR SCHEDULE FEDERAL SCHEDULE
(LIMITED TO 0.5% OF INCOME)
1. SCHEDULE C - BUSINESS INCOME
(Attach copy of Schedule C)
2. SCHEDULE E - RENTAL INCOME(Residents enter profit/loss fromALL properties.Nonresidents
enter only profit/loss from City of Canfield properties)(Attach copy of Schedule E)
3. SCHEDULE F - FARM INCOME (Attach copy of Schedule F)
4. SCHEDULE K-1 (Residents enter profit/loss from entities that do not pay Canfield tax on entire distributive share)
(Attach copy of K-1) NOTE: All pass through income is taxable to residents, except from Non-Ohio S-Corps.
5. FORM 1120, 1120S, 1065, 1041
(Attach copy of form and any referenced schedules)
6. TOTAL OF LINES 1 THROUGH 5
7. Previous Year Net Losses(Starting in 2023 unused, losses from tax years beginning on or after 1/1/1 8can be
used for 5 years- Attach schedule)
8. SUBTRACT LINE 7 FROM LINE 6
9. MISCELLANEOUS INCOME - 1099 MISC, W-2G, ETC.(Attach copy of supporting document)
NOTE: 1099R income is not taxable to the City of Canfield.
10. TOTAL INCOME (LOSS) (Combine Lines 8 & 9. INDIVIDUAL TAXPAYERS STOP HERE and enter income from 10A 10A 10B
on pg.1, line 2 and enter amount from 10B on pg.1, line 8.) (Businesses enter amount from 10A on line 26 below.)
SCHEDULE X RECONCILIATION WITH FEDERAL INCOME TAX RETURN (NOT FOR INDIVIDUAL NON-BUSINESS USE)
ITEMS NOT DEDUCTIBLE ADD ITEMS NOT TAXABLE DEDUCT
a. Capital Losses (Excluding Ordinary Losses)….............................................. $ j. Capital Gains (Excluding Ordinary Gains)….................................... $
b. Interest and/or other expenses incurred in the production of non-
taxable income ….................................................................................. k. Interest Income…..........................................................................
c. Taxes based on income (Including Franchise Tax)….................................... l. Dividend Income….........................................................................
d. Net operating loss carry forward from Federal Return…............................ m. Income from Patents & Copyrights…………………………………………
e. Amounts paid or accrued on behalf of owners/partners for qualified sef employed
n. Other (explain)…...........................................................................
retirement plans, health insurance and/or life insurance…........................ ….......................................................................................................
f. Officers Compensation not included in W-2 wages…............................. ….......................................................................................................
g. Five percent (5%) of intagible income reported on lines k, l, & m…........... ….......................................................................................................
h. Other (explain)……………………………………………………………………………………….
i. Total Additions (enter on line 27a)….......................................................... $ o. Total Deductions (enter on line 27b)…...................................... $
SCHEDULE Y BUSINESS ALLOCATION FORMULA
a. LOCATED b. LOCATED IN c. PERCENTAGE
EVERYWHERE CANFIELD (b ÷ a)
STEP 1 Avg. Original Cost of Real & Tangible personal property
Gross annual rentals paid multiplied by 8
Total Step 1
STEP 2 Gross receipts from sales made and/or work or services performed %
STEP 3 Wages, salaries, and other compensation paid %
STEP 4 Total percentages %
STEP 5 Average percentage (Divide total percentages by number of percentages used) Carry to line 28 b below %
26. Total from Schedule of Income From Other Than Wages above (Line 10A)…................................................................................................................................................... $
27. a. Items Not Deductibe …..................................................................................................................................................................... ADD $
b. Items Not Taxable…..................................................................................................................................................................... DEDUCT $
c.Subtract Line 26b from Line 26a ............................................................................................................................................................................................................$
28. a. Adjusted Net Income (Line 2 6 plus or minus 2 c)…...............................................................................................................................................................................7 $
b.Percentallocable to Canfield from Schedu le Y, Step 5 above. ............................................................................................................................................................... %
29. Amount subject to Canfield Income Tax. Multiply Line 28a by percentage on Line 28b (Carry to Page 1 , Line 2)….......................................................................................... $
EXEMPTION CERTIFICATE (Signature is required on page 1)
I have no taxable income because of the reason indicated below:
RETIRED - I received only pension, social security and/or interest or dividend income for the entire year.
UNDER 18 for the entire year of _________. My date of birth is ____/____/____ (Attach copy of driver's license).
ACTIVE MEMBER OF THE U.S. ARMED FORCES for the entire year of _______.
NO EARNED INCOME for the entire year of ________. (Public assistance, SSI, Unemployment, etc. is not considered earned income).
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