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NORWOOD INCOME TAX FORM IR
SIDE TWO SCHEDULE
(Calculation for Line 2 Front Page)
20. Net profit(s)/loss from profession and/or business operation(s) Attach Federal Schedule C ............................................ 20. $ _________
21. Net profit(s)/loss from rental property and/or partnership(s) Attach Federal Schedule E................................................. 21. $ _________
22. Net profit(s)/loss from farm income Attach Federal Schedule F ...................................................................................... 22. $ _________
23. Total net profit(s)/losses from business activities (Total lines 18, 19 and 20) .................................................................. 23. $ _________
24. Business losses from previous years’ tax returns (if available) Maximum of five (5) years carryover ............................ 24. $ _________
25. Other taxable income from business activities (Total line 21 minus 22) .......................................................................... 25. $ _________
26. Other taxable income not from business activities (See instructions – lines 2 and 23) ..................................................... 26. $ _________
27. Total other taxable income (Report this amount on line 2 – front page) .......................................................................... 27. $ _________
ADDITIONAL INFORMATION
If your tax status has changed, please complete applicable items below:
A I sold the following rental property subject to Norwood tax:
Location Address Date Sold Purchaser’s Name and Address
______________________ _____________________ ___________________________________________
______________________ _____________________ ___________________________________________
B Additional Notations: _________________________________________________________________________________________
___________________________________________________________________________________________________________
FILING INSTRUCTIONS
MANDATORY FILING: All residents 18 years and older are required to file a return whether or not any tax is due and regardless if you rent or own.
If for some reason, you do not have any taxable income, please return your form with an explanation and applicable verification and documentation.
If you do not respond, your account will be considered delinquent. To avoid penalties and interest, your tax return and payment must be received on
or before April 15th.
Line 1 Is to be grand total of all gross wages, salaries and Line 12 Your overpayment may either be credited to next year’s
compensation from all W-2 forms for the year. Generally use taxes or refunded to you. Amounts of less than Ten Dollars
box 5 on theW-2. Attach copies ofW-2s and a copy of your ($10.00) shall not be credited or refunded.
entire Federal 1040 Form.
Line 13 through 19 – Calculate estimated tax due for 2024.
Line 2 Is for reporting such items as income from business activities,
non-employee income listed on a 1099-MISC, sales Line 20 through 24 Self Explanatory – call office with further
commissions, fees, gambling winnings and other 1099 income questions.
received not pursuant to retirement and other taxable income.
(See note for Line 23.) Line 25 Total of other taxable income from business activities.
Attach Federal Schedules. NOTE: LOSSES FROM BUSINESS, INCLUDING
RENTALS, MAY NOT BE OFFSET AGAINST
Line 3 Total taxable income for Norwood. PERSONAL SERVICES COMPENSATION. HOWEVER,
LOSSES MAY BE CARRIED OVER FOR A MAXIMUM
Line 4 Tax due before credits – multiply Line 3 by 2%. OF FIVE YEARS.
Line 5 Estimated tax payments made to Norwood for tax year 2023. Line 26 Show other taxable income not from business activities – see
items listed in Line 2 instructions.
Line 6 Taxes withheld by employer and paid to Norwood.
Line 27 Total of other income. Add Line 23 and 24. This amount
Line 7 Taxes withheld by employer and paid to other localities. should be shown on front page, Line 2.
Credit is only allowed on income taxed in another city or
county. NOTES: Protection of Taxpayer Information – Any information
gained as a result of returns, investigations, etc., shall be confidential.
Line 8 Overpayments from prior years’ tax returns. No disclosures shall be made except for official purposes or as
ordered by a Court of competent jurisdiction or where disclosure is
Line 9 Total credit for the tax year. necessary to conduct a hearing before the Board of Appeals.
Line 10 This is your tax due. Subtract Line 9 from Line 4. Balance Be sure to complete the 2024 Estimated Tax Form on the bottom
must be remitted with this return. of page 1 if tax will be more than $200.00.
Line 11 This is the amount you overpaid. Subtract line 4 from line 9.
TAX FORMS ARE ALSO AVAILABLE AT WWW.NORWOODOHIO.GOV – CLICK ON TAX DEPARTMENT
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