My client resides in Michigan. He has a rental home in Ohio. This is the first year he had a profit - 2,662. My Drake program is showing that he owes no Ohio tax. He is 56 years old and is single, no kids. The rental profit is showing up as business income on schedule IT BUS. His Michigan income is 58,000. The program is giving him a business deduction equal to his income.
Just for fun I increased the profit to 89,000 and he still owes no Ohio tax. What is wrong here.
Just for fun I increased the profit to 89,000 and he still owes no Ohio tax. What is wrong here.
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