Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Ohio IT 4708 - A NY resident owns rental property in Ohio. I understand I have to file IT 4708 and pay tax but it seems I can then file IT 1040 and take credit?

JOEPCPA
Level 3

He owns the property through his S Corp. Is that correct and isn't that just a waste of time? I pay the tax with 4708 but then get refund on IT 1040? 

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Solution

Accepted Solutions
TAXOH
Level 11

If it's an individual taxpayer I don't believe you would file form 4780 and would just file IT 1040 for a non resident.   

View solution in original post

0 Cheers
5 Comments 5
TAXOH
Level 11

If it's an individual taxpayer I don't believe you would file form 4780 and would just file IT 1040 for a non resident.   

0 Cheers
JOEPCPA
Level 3
Thanks, sorry I did forget to mention he owns the property through his S Corp so the 4708 is necessary.
0 Cheers
TAXOH
Level 11
Oh, okay.  Then I think that is correct and yes it is a waste of time.
0 Cheers
JOEPCPA
Level 3
Thanks much!!
0 Cheers
TAXOH
Level 11
You're welcome.
0 Cheers