What common sources of income are NOT taxable for Findlay? | City of Findlay, Ohio

What common sources of income are NOT taxable for Findlay?

Non-taxable income includes, but is not limited to:

  • IRC 125 cafeteria plan contributions (effective January 1, 2004)
  • Sick pay described in IRC 3402(o)(2)(C), not reported in the W-2 box 5 Medicare wages
  • Third-party sick pay (effective July 1, 2007) (subject to change)
  • Interest
  • Dividends
  • Government-paid unemployment compensation
  • Workers’ compensation
  • Social Security benefits, Government aid
  • Pensions and qualified retirement benefits
  • Income reported on a 1099-R, 1099-DIV, or 1099-INT
  • Active and reserve military pay [ORC 718.01(H)(1)]
  • Gambling winnings, except from Lotteries (gambling losses are not deductible)
  • Alimony (payments are not deductible)
  • Non-qualified pension income reported on a W-2
  • Distributions from deferred compensation plans [See ORC 718.03(A)]
  • Limited partner’s distributive share from a limited partnership (losses were not deductible)
    (only through December 31, 2010)
  • Royalties derived from intangible property
  • Patent and copyright income
  • Value of a home or a parsonage furnished by a church to its designated minister (effective January 2000)
  • Value of board and lodging as a condition of employment
  • First $1,000 of annual income for serving as a precinct election official [ORC 718.01(H)(4)]
  • Income of individuals who are under age 16
  • Life insurance proceeds
  • Proceeds from inheritance
  • Capital gains, except see Article III(A)(6)(c)(.1)(.08) of the Rules & Regulations and
    ORC 718.01(A) for business and rental property transactions
  • Capital losses are not deductible

in Income Tax Tags: Tax-Findlay