IT 4708: 2025 Pass-Through Entity Composite Income Tax Return (2025)
Ohio · Ohio Department of Taxation · Used for tax years 2025
Ohio Form IT 4708 is the 2025 Pass-Through Entity Composite Income Tax Return. It reports income and deductions for participating investors, calculates Ohio taxable income and tax liability, and accounts for credits, payments, refunds, and amounts due.
What you'll need
- Include a copy of the applicable federal Form 1120S or 1065 and the federal Schedule K-1s for participating investors.
- For amounts reported on lines 8 and 36, include an explanation and supporting schedules.
- If claiming business credits, include the PTE/Fiduciary Schedule of Credits and applicable credit certificates. For refundable PTE credits, include the Ohio IT K-1s from the credit issuers.
- Include any required credit worksheets and supporting documentation. The credit schedule directs filers to the instructions for details.
- If reporting an interest penalty for underpayment of estimated tax on line 13, include Ohio IT/SD 2210.
How to file
Complete the return using black ink, UPPERCASE letters, and whole-dollar amounts. Enter the entity’s identifying information, reporting period, and investor information. Check only one entity type.
Complete Schedules I and II using the combined federal Schedule K-1 amounts for only the investors participating in this return. Use Schedule III to calculate the Ohio apportionment ratio. Financial institutions are directed to the instructions for a different calculation.
Have the pass-through entity’s officer or agent sign and date the return. If filing because of a Federal Partnership Adjustment, complete the required State Partnership Representative information and signature.
Mail the return to:
Ohio Department of Taxation
P.O. Box 181140
Columbus, OH 43218-1140
For payment by check, make the check payable to Ohio Treasurer of State, include Ohio IT 4708 OUPC, and write the entity’s FEIN on the check. Do not staple or paper clip the return.
Common mistakes
- Including nonparticipating investors’ amounts. Schedules I and II use only the federal Schedule K-1 amounts for investors participating in the return.
- Deducting the same expense twice. Schedule II allows only deductions not already used to reduce income on Schedule I.
- Putting credits on line 14. The form says not to include refundable or nonrefundable credits on that line.
- Including a capital loss carryforward on line 33. The form says to exclude it. If lines 32 and 33 together result in a loss, see the instructions.
- Carrying an overpayment forward on an amended return. Enter zero on line 19 if the return is amended.
- Not adjusting apportionment weights when a factor is zero. If a factor’s “Total Everywhere” is zero, proportionately increase the other factors’ weights so the combined weight is 100%.
- Forgetting the signature. The officer or agent’s signature is required.
Questions people ask
Must the entity file both IT 4708 and IT 1140 for the same period?
No. The form states that filing both for the same filing period is not required. Check the designated box if the entity has filed or will file IT 1140 for that period.
Can an overpayment be applied to next year’s tax?
Line 19 lets you credit part or all of the line 18 overpayment toward next year’s liability. If this is an amended return, enter zero on line 19. The remaining amount goes on line 20 as a refund.
What happens if the refund or amount owed is $1.00 or less?
No refund will be issued if the refund is $1.00 or less. No payment is necessary if the amount owed is $1.00 or less.
Can my preparer discuss the return with the Department?
Yes. Check the authorization box on the return to allow your preparer to discuss it with the Department.
Where does the form say to find instructions?
The form lists tax.ohio.gov as the source for instructions.