bw98-TAX BOOK.QUARK FILE - Ohio Department of Taxation ...

Line 50 — Lump Sum Retirement
Income Credit
Lump sum distributions that you received on account of
retirement from a qualified retirement plan may be given
special tax treatment. A “lump sum distribution” is one where
you receive your entire balance from a qualified pension,
retirement, or profit-sharing plan during one tax year.
If you:
• received income in a lump sum distribution during 1998 or
• are entitled to an unused retirement income exclusion from
an earlier year, then you will need special instructions on
how to compute your tax credit. You can get these special
instructions by contacting one of the offices listed on page
39 of this booklet.
Line 51 — Job Training Credit
Ohio law provides a credit for amounts you pay for qualified
job training. Qualified job training is any training or education
which improves your chances of getting a new job after
you have lost your previous job. Job training includes such
things as apprenticeships, internships and educational classes.
Such training qualifies for this credit only if you can
STOP
check “yes” for questions A, B and C below:
A) Did you lose your job because the place YES NO
where you worked either permanently
closed or moved or because your employer
abolished your job or shift?
(Note: Abolishment of job or shift does
not include layoffs resulting from seasonal
employment, temporary plant closings
for retooling, etc.) . . . . . . . . . . . . . . . . . . .❏ ❏
B) During the twelve month period beginning
when you lost your job, did you pay
for any job training? . . . . . . . . . . . . . . . . . .❏ ❏
C) While you were receiving job training,
were you either unemployed or working
no more than 20 hours per week . . . . . . . . .❏ ❏
If you checked “yes” to all of the questions above, then complete
the worksheet below:
1998 Job Training Credit Worksheet
1. Enter the amount you paid during 1997 and 1998
for job training during the twelve month period
beginning when you lost your job. Do not include
any amount that was reimbursed to you . . . 1__________
2. Multiply the amount on line 1 by 1/2 . . . . . 2__________
3. Enter the smaller of $500 or the amount on
line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3__________
4. Enter the amount of job training credit, if any,
which you claimed on line 51, Schedule B on
the 1997 Ohio Form IT-1040 . . . . . . . . . . . 4__________
5. Subtract line 4 from line 3 (but not less than
zero) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5__________
The amount on line 5 is your job training credit. Enter this
amount on Schedule B, line 51 of Ohio Form IT-1040.
20
Line 52 — Ohio Political
Contributions Credit
You can claim a credit against your tax for contributions of
money you made during the year to the campaign committee
of candidates for any of the following Ohio offices:
-Governor,
-Lieutenant Governor,
-Secretary of State,
-Auditor of State,
-Treasurer of State,
-Attorney General,
-Ohio Board of Education,
-Chief Justice of the Ohio Supreme Court,
-Justice of the Ohio Supreme Court,
-Ohio Senate, or
-Ohio House of Representatives.
The amount of the credit is the lesser of the combined total
cash contributions you made during the year or $50. The maximum
credit is $50 (for single or married separate filers) and
$100 (for married filing joint returns if both spouses made
contributions of $50 or more) regardless of the amount of the
contribution.
You can claim the credit on the back of Form IT-1040, line
52.
Line 53 — Total Credits
Enter the total of lines 46 through 52 on line 53 and on line 7
on the front of the return.