IT K-1: 2025 Ohio Pass-Through Entity and Fiduciary Schedule of Ohio Income (2025)
Ohio · Ohio Department of Taxation · Used for tax years 2025
The 2025 Ohio IT K-1 reports an investor’s, owner’s, or beneficiary’s share of pass-through entity or trust and estate income, Ohio depreciation adjustments, and Ohio tax credits. It also includes a schedule reporting entity income taxes paid to Ohio and other states for determin
Who files this form
A pass-through entity (PTE), electing pass-through entity (EPTE), or fiduciary should issue an Ohio IT K-1 to each investor, owner, or beneficiary who receives income, adjustments, or credits.
The entity should give each recipient a copy and include copies with its IT 1140, IT 4708, IT 4738, or IT 1041. An IT K-1 can also be issued when the entity is not required to file a return.
Investors claiming credits should include a copy of the IT K-1 with their return.
What you'll need
Gather the records that apply to your income and credits:
- Federal Schedule K-1: Use the same investor, owner, beneficiary, entity, and ownership information reported there.
- The entity’s Ohio return and schedules: These provide income, tax, depreciation adjustment, and apportionment information.
- Prior-year Ohio returns: Use these to calculate deductions for previously reported depreciation add-backs.
- IT K-1s, W-2s, or 1099s supporting line 4: Attach the applicable forms for indirect pass-through entity credits or withholding. Include each relevant entity’s FEIN, with a schedule or flowchart if necessary.
- Credit certificates: Provide recipients with copies for business credits. For refundable business credits, include the Ohio Department of Development certificate and IT K-1 when filing the return.
- EPTE Add-back Schedule: Attach it when reporting qualifying direct or indirect entity tax payments to Ohio or other states.
How to file
- Complete the 2025 Ohio IT K-1 using only black ink and UPPERCASE letters.
- Enter the calendar year or fiscal-year period used on the entity’s federal return. Check the applicable Ohio return box and the amended box, if applicable.
- If the entity does not file IT 1140, IT 4738, or IT 4708, check “Not included on entity return.”
- Give each investor, owner, or beneficiary a copy. Include copies of each IT K-1 when filing IT 1140, IT 4708, IT 4738, or IT 1041.
- If you receive an IT K-1 and claim credits, include a copy with your return.
The supplied text does not specify a mailing address or an e-file procedure.
Common mistakes
- Counting the same credit twice: Exclude from line 4 any PTE credit already included as a direct credit on line 3.
- Using ineligible prior-year depreciation amounts: Report prior-year add-backs only for years when the person was an investor, owner, or beneficiary and the entity filed an Ohio return.
- Netting adjustments on the recipient’s return: Report depreciation add-backs and deductions on separate lines on IT 1040, IT 4738, IT 4708, IT 1140, and IT 1041. Do not net them.
- Transferring an individual’s depreciation deduction to the entity: The Department will disallow an entity deduction based on an individual’s IT 1040 add-back.
- Leaving out apportionment information from other entities: A PTE or EPTE that owns another PTE must combine its property, payroll, and sales amounts with amounts on IT K-1s it receives. Entities receiving multiple IT K-1s must aggregate the apportionment information.
Questions people ask
Can an entity issue an IT K-1 without filing an Ohio return?
Yes. The text allows an IT K-1 to be issued even when the PTE, EPTE, or fiduciary is not required to file a return.
Which return year should I use for an IT K-1 I receive?
For a calendar-year entity, use the IT K-1 for the same calendar year. For a fiscal-year entity, use it for the return year that includes the entity’s fiscal-year ending date.
Is the NAICS code required?
No. The six-digit North American Industry Classification System code is optional on the Ohio IT K-1.
What is the difference between direct and indirect PTE credits?
Line 3 reports the recipient’s share of Ohio income tax paid by the issuing entity after nonrefundable business credits and refunds. Line 4 reports the recipient’s share of tax paid by another entity on the issuing entity’s behalf, and may also include withholding from a W-2 or 1099.