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Ohio Free Printable  for 2021 Ohio Fiduciary Income Tax Return

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Fiduciary Income Tax Return
Form IT 1041

Do not staple or paper clip. 2020 Ohio IT 1041 Fiduciary Income Tax Return Rev. 12/11/20 Use only black ink and UPPERCASE letters. Amount fields use only whole dollar amounts, no cents. Check here if amended return Reporting Period Start Date Check here if final return Check here if the federal extension was granted Check here if any funds were distributed SSN of decedent (estates only) FEIN 20180102 MM D D Y Y Reporting Period End Date MM D D Y Y Name of trust or estate Name of trust or estate (second line) Fiduciary name and title Address (if address change, check box) City State Foreign State Code Country Code Check Applicable Box(es) Simple trust OR Foreign country (if the mailing address is outside the U.S.) Select One Complex trust Select One Do not staple or paper clip. Resident trust OR ZIP code Nonresident trust Foreign postal code Select All That Apply Irrevocable trust Testamentary trust Select One Bankruptcy estate Decedent’s estate Qualified pre income trust – Attach copy of letter of exemption from Ohio Income Schedule I – Taxable Income, Tax, Payments and Net Amount Due Calculations (If the amount on a line is negative, place a “–“ in the box provided.) 1. Federal taxable income (from the federal 1041, line 23). Include page 1 of the federal 1041............................................................................... ............1. 2. Net adjustments from Schedule II, line 42................................................................... ............2. 3. Ohio taxable income (line 1 plus or minus line 2). Estates should skip lines 4-7......... ............3. 4. Allocated qualifying trust amount from Schedule VI, line 61 (trusts only).................... ............4. 5. Apportioned trust income from Schedule VII, line 64 (trusts only)............................... ............5. 6. 7. 8. Allocated trust income from Schedule VIII, line 67 (trusts only)................................... ............6. Modified Ohio taxable income (trusts add lines 4, 5 and 6; if less than zero, enter zero).............................................................................................................7. Tax on Ohio taxable income (estates, line 3) or tax on modified Ohio taxable income (trusts, line 7). See tax table in the instructions.............................................. 8. 9. Credits from Schedule III, line 50 (estates only).............................................................................. 9. 10. Resident credit from Schedule IV (estates); nonresident credit from Schedule V (estates); business credit from Schedule E (include Schedule E) (estates and trusts); and tax credit from Schedule IX (resident trusts).......................................... 10. For Department Use Only Do not write in this area; for department use only. Postmark date 2020 IT 1041 – pg. 1 2 of 7 Code FEIN Rev. 12/11/20 2020 Ohio IT 1041 Fiduciary Income Tax Return 20180202 11. Tax after nonrefundable credits (line 8 minus the amount on lines 9 and 10)................................11. 12. Interest penalty on underpayment of estimated tax (include Ohio IT/SD 2210).............................12. 13. Total Ohio tax (add lines 11 and 12)...............................................................................................13. 14. Net payments from line 80..............................................................................................................14. 15. Refundable business credits from line 87 (include documentation / certificates)...........................15. 16. Total (add lines 14 and 15).............................................................................................................16. 17. If line 16 is more than line 13, subtract line 13 from line 16. This is your overpayment.................17. 18. Amount of line 17 to be credited to 2021 estimated tax liability.....................CREDIT TO 202118. 19. Amount of line 17 to be refunded (subtract line 18 from line 17).....................YOUR REFUND19. 20. Net amount due, if any (if line 13 is more than line 16, subtract line 16 from line 13, if less than zero, enter zero)...........................................................................................................20. 21. Interest due on late payment of tax (see instructions)....................................................................21. 22. Total amount due (add lines 20 and 21). Make check payable to Ohio Treasurer of State, include Ohio IT 1041 UPC and place FEIN on check........................................AMOUNT DUE22. If your refund is $1.00 or less, no refund will be issued. If you owe $1.00 or less, no payment is necessary. Sign Here (required): I have read this return. Under penalties of perjury, I declare that, to the best of my knowledge and belief, the return and all enclosures are true, correct and complete. Signature of fiduciary or trust officer Preparer’s name (print) Title Preparer’s address (include ZIP code) Date (MM/DD/YY) Fiduciary’s or trust officer’s phone number Preparer’s phone number Preparer’s e-mail address PTIN Do you authorize your preparer to contact us regarding this return? Yes Do not staple or paper clip. Place any supporting documents, including Ohio IT K-1(s), after the last page of this return. Mail to: Ohio Department of Taxation P.O. Box 2619 Columbus, OH 43216-2619 Instructions for this form are on our website at tax.ohio.gov. No Schedule II – Adjustments to Federal Taxable Income Net of Related Expenses Additions 23. Federal and/or non-Ohio state or local government interest and dividends not distributed...........23. 24. Pass-through entity and financial institutions taxes paid and related member add-back...............24. 25. Income from an Electing Small Business Trust (ESBT) not shown in federal taxable income (include documentation).....................................................................................................25. 26. Losses from sale or other disposition of Ohio public obligations....................................................26. 27. Reimbursement of expenses previously deducted on an Ohio IT 1041 tax return.........................27. 28. Internal Revenue Code 168(k) and 179 depreciation expense addback. 2/3, 5/6 or 6/6 (check applicable box and complete Schedule XIII)...........................28. 29. Federal personal exemption (estates only) and any applicable conformity adjustments...............29. 30. Expenses claimed on Ohio estate return (estates only).................................................................30. 31. Total additions (add lines 23 through 30)........................................................................................31. Do not write in this area; for department use only. 2020 IT 1041 – pg. 2 of 7 2020 Ohio IT 1041 Fiduciary Income Tax Return Rev. 12/11/20 FEIN 20180302 If the amount on a line is negative, place a “–” in the box provided. Schedule II – Adjustments to Federal Taxable Income Net of Related Expenses...continued. Deductions – Note: Deduct income items described below only to the extent that those amounts are not already deducted or excluded from federal taxable income after distributions. 32. Federal interest and dividends exempt from state taxation net of related expenses......................32. 33. Certain municipal and state income tax overpayments..................................................................33. 34. Losses from an ESBT not shown in federal taxable income (include documentation)...................34. 35. Wage and salary expense not previously deducted due to the federal targeted jobs credit or the work opportunity credit...............................................................................................35. 36. Interest income from Ohio public obligations and Ohio purchase obligations and gains from the sale or other disposition of Ohio public obligations..........................................................36. 37. Refunds or reimbursements of prior year federal itemized deductions and any applicable conformity adjustments...................................................................................................................37. 38. Farm income from a farm of at least 10 acres (trusts only)............................................................38. 39. Deduction for prior year 168(k) and 179 depreciation addbacks ...................................................39. 40. Repayment of income reported in a prior year and not otherwise deducted..................................40. 41. Total deductions (add lines 32 through 40).....................................................................................41. 42. Net adjustments (subtract line 41 from line 31). Enter here and on line 2.................... ...........42. Schedule III – Estate Credits 43. Retirement income credit (see instructions for credit table) (limit – $200)......................................43. 44. Lump sum retirement credit (see instructions to calculate the credit)............................................44. 45. Senior citizen’s credit (limit – $50 per return).................................................................................45. 46. Lump sum distribution credit (must be 65 or older to claim this credit; see instructions to calculate this credit)....................................................................................................................46. 47. Child and dependent care credit (see instructions and worksheet in Ohio IT 1040 booklet)............47. 48. Campaign contribution credit for Ohio statewide office or General Assembly................................48. 49. Ohio adoption credit (limit $10,000)................................................................................................49. 50. Total Schedule III credits (add lines 43 through 49) – enter here and on line 9.............................50. Schedule IV – Estate Ohio Resident Credit 51. Enter the portion of Ohio taxable income (line 3) subjected to tax by other states or the District of Columbia while an Ohio resident............................................................ ...........51. 52. Enter Ohio taxable income (line 3)............................................................................... ...........52. 53. Divide line 51 by line 52 and enter percentage here %. Multiply this percentage by the amount shown on line 8 reduced by any amount shown on line 9......................................53. 54. Enter the 2020 income tax, less all related credits other than withholding and estimated tax payments and carryforwards from previous years, paid to other states or the District of Columbia........................................................................................................................54. 55. Enter the smaller of line 53 or line 54. This is your Ohio resident tax credit. Enter here and on line 10.................................................................................................................................55. Do not write in this area; for department use only. 2020 IT 1041 – pg. 3 2 of 7 Rev. 12/11/20 2020 Ohio IT 1041 Fiduciary Income Tax Return FEIN 20180402 If the amount on a line is negative, place a “–” in the box provided. Schedule V – Estate Nonresident Credit 56. Portion of Ohio taxable income (line 3) not earned or received in Ohio (include Ohio IT NRCE)................................................................................................ ...........56. 57. Ohio taxable income (line 3)......................................................................................... ...........57. 58. Divide line 56 by line 57 and enter percentage here %. Multiply this percentage by the amount shown on line 8 reduced by the amount shown on line 9. Enter here and on line 10.....58. Schedule VI – Allocated Qualifying Trust Amounts 59. Trust’s portion of capital gains/losses recognized to the extent included in Ohio taxable income (line 3) if the location of the physical assets of the closely held investee is available............................................................................................... ...........59. . 60. Percentage of the closely held investee’s physical assets located within Ohio..............................60. 61. Multiply amount on line 59 by percentage on line 60. Enter here and on line 4........... ...........61. Schedule VII – Apportioned Income for Trusts 62. Enter (i) the trust’s business income not included in line 59 and (ii) the trust’s qualifying investment income not otherwise a part of business income and not included in line 59......................................................................................................... ...........62. 63. Enter the Ohio apportionment ratio from line 78 of the apportionment worksheet on page 5.......................................................................................................................63. 64. Multiply the amount on line 62 by the apportionment ratio on line 63. Enter here and on line 5................................................................................................ ...........64. . Schedule VIII – Allocated Nonbusiness Income for Trusts If distributive share is business income/loss from a pass-through entity, use Schedule VII. 65. Resident trusts: Trust’s portion of Ohio taxable income (line 3) not reported on lines 59 or 62........................................................................................................... 66. Nonresident trusts: Trust’s portion of Ohio taxable income (line 3) not reported on lines 59 or 62 to extent such income (i) was derived from real or tangible property located in or based in Ohio or (ii) was sitused to Ohio (see instructions for line 66).......................................................................................... 67. Add lines 65 and 66 and enter here and on line 6........................................................ ...........65. ...........66. ...........67. Schedule IX – Tax Credit for Resident Trusts 68. Enter the amount of allocated resident trust nonbusiness income (line 65, above) subject to tax in one or more states or in the District of Columbia................................ ...........68. 69. Enter the amount from line 8...........................................................................................................69. 70. Enter the amount of modified Ohio taxable income from line 7......................................................70. 71. Divide line 69 by line 70 and enter the percentage here. This is the average effective tax rate.....71. . 72. Multiply the amount on line 68 by the percentage reported on line 71......................... ...........72. 73. Enter the amount of tax actually paid by the resident trust to another state or the District of Columbia on the trust’s allocated nonbusiness income..................................................73. 74. Enter the smaller of the amount on lines 72 and 73. This is the resident trust’s Ohio tax credit. Enter here and on line 10................................................................................................................74. Do not write in this area; for department use only. 2020 IT 1041 – pg. 4 2 of 7 Rev. 12/11/20 2020 Ohio IT 1041 Fiduciary Income Tax Return FEIN 20180502 Schedule X – Apportionment Worksheet Use this worksheet to calculate the apportionment ratio for the trust’s modified business income and qualifying investment income included in Ohio taxable income. Note: All ratios are to be carried to six decimal places. Total Everywhere Within Ohio 75. Property a) Owned (average cost) b) Rented (annual rental X 8) Within Ohio Total Everywhere Within Ohio Total Everywhere ÷ c) Total (lines 75a and 75b) = Ratio Weight . Weighted Ratio x = . . Total Everywhere Within Ohio ÷ 76. Payroll = Ratio Weight . Weighted Ratio x = . . Total Everywhere Within Ohio ÷ 77. Sales = Ratio . Weight x = . 8. Total weighted apportionment ratio (add weighted ratio from lines 75c, 76 and 77). Enter ratio here and on 7 Schedule VII, line 63 (carry to six decimal places)................................................................................................. 78. Weighted Ratio . Weighted Ratio . Note: If the denominator of any factor is zero, the weight given to the other factors must be proportionately increased so that the total weight given to the combined number of factors used is 100%, i.e., if no property/payroll, use 25% and 75%; if no sales, use 50% property/payroll; if only one factor, use 100%. Schedule XI – Net Payment Worksheet – Include 1099(s) and W-2(s) 79a. Estimated payments 79b. 1099 withholdings 79c. W-2 withholdings 79d. Reserved 79e. Refunds previously claimed 80. Net payments (add lines 79a-d minus line 79e). Enter here and on page 2, line 14. Schedule XII – Refundable Business Credits Note: Certificates from the Ohio Development Services Agency and/or Ohio IT K-1(s) must be included to verify each refundable credit claimed. 81. Motion picture / Broadway credit 82. JCTC / JRTC 84. Venture capital credit 85. Historic preservation credit 83. Pass-through entity credit 86. Reserved 87. Total refundable business credits (add lines 81-86). Enter here and on line 15. Do not write in this area; for department use only. 2020 IT 1041 – pg. 5 2 of 7 Rev. 12/11/20 2020 Ohio IT 1041 Fiduciary Income Tax Return FEIN 20180602 Schedule XIII – 168K Bonus Depreciation and 179 Expense Add-back Schedule Check the box if the depreciation adjustment has been waived 88. Total current year sections 168K bonus depreciation and 179 expense add-back........................ 88. 89. Prior years add-back amount and applicable add-back ratio Column (A) – Amount Column (B) – Ratio 2/3 5/6 6/6 2/3 5/6 6/6 89c. 3 Years Prior.............................................. 89c. 2/3 5/6 6/6 89d. 4 Years Prior.............................................. 89d. 2/3 5/6 6/6 89e. 5 Years Prior.............................................. 89e. 2/3 5/6 6/6 89a. Year Prior.................................................. 89a. 89b. 2 Years Prior.............................................. 89b. Schedule XIV – Beneficiary Schedule Provide beneficiary information for all (resident and nonresident) beneficiaries in the estate or trust. Use an additional sheet, if necessary. SSN Amount distributed FEIN First name / entity M.I. Last name Address City SSN State Amount distributed FEIN First name / entity ZIP code M.I. Last name Address City SSN First name / entity State ZIP code Amount distributed FEIN M.I. Last name Address City State ZIP code Do not write in this area; for department use only. 2020 IT 1041 – pg. 6 2 of 7 Rev. 12/11/20 2020 Ohio IT 1041 Fiduciary Income Tax Return FEIN 20180702 Schedule XIV – Beneficiary Schedule Provide beneficiary information for all (resident and nonresident) beneficiaries in the estate or trust. Use an additional sheet, if necessary. SSN Amount distributed FEIN First name / entity M.I. Last name Address City SSN State Amount distributed FEIN First name / entity ZIP code M.I. Last name Address City SSN State Amount distributed FEIN First name / entity ZIP code M.I. Last name Address City SSN First name / entity State ZIP code Amount distributed FEIN M.I. Last name Address City State ZIP code Do not write in this area; for department use only. 2020 IT 1041 – pg. 7 2 of 7
Extracted from PDF file 2020-ohio-form-it-1041.pdf, last modified December 2020

More about the Ohio Form IT 1041 Corporate Income Tax Tax Return TY 2020

We last updated the Fiduciary Income Tax Return in February 2021, so this is the latest version of Form IT 1041, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form IT 1041 directly from TaxFormFinder. You can print other Ohio tax forms here.

Related Ohio Corporate Income Tax Forms:

TaxFormFinder has an additional 82 Ohio income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Ohio Form IT 1041.

Form Code Form Name
Form IT 1041P Ohio Income Tax Payment Coupon for Estates and Trusts (OBSOLETE)
Form IT 1041ES Ohio Estimated Income Tax Payment Coupon for Estates and Trusts

Download all OH tax forms View all 83 Ohio Income Tax Forms


Form Sources:

Ohio usually releases forms for the current tax year between January and April. We last updated Ohio Form IT 1041 from the Department of Taxation in February 2021.

Show Sources >

Form IT 1041 is an Ohio Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Ohio Form IT 1041

We have a total of ten past-year versions of Form IT 1041 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Form IT 1041

PIT_IT1041_Return_Scannable_Final_2012_FI_122112.indd

2015 Form IT 1041

PIT_IT1041_Return_Scannable_Final_2012_FI_122112.indd

Fiduciary Income Tax Return 2014 Form IT 1041

PIT_IT1041_Return_Scannable_Final_2014_FS_121814.indd

Fiduciary Income Tax Return 2013 Form IT 1041

PIT_IT1041_Return_Scannable_Final_2012_FI_122112.indd

2012 Form IT 1041

PIT_IT1041_Return_Scannable_Final_2012_FI_122112.indd

2011 Form IT 1041

PIT_IT1041_Return_Final_2011_FI_061511.indd


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