Ohio Retirement Credit

[Randall]

On a joint Ohio return, Retirement credit is maxed at $200.  What if filing separately and both spouses are eligible for the retirement credit.  I didn't see anything in the instructions other than limiting the credit to $200 per return.

 

 

[Jim Oh Bkkr]

Yes, and same with the $50 senior credit.  Joint return - 250 worth of credits, separate returns - 500 worth of credits.  It is (almost) always better to file separate in Ohio, given that Fed taxable incomes are within the same tax bracket.  Disallowance of certain Fed items "if" filing separate, and Soc Security taxability are possible trips-ups, but minimal effort to check can double you income.

[Randall]

Thanks.  The senior credit will only apply to one but the retirement credit should apply to both.