Form 40p Instructions - Oregon Department Of Revenue Page 3
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10Moving expenses.
24
Adjustments to income
Federal column. Fill in the same amount you reported
IRA or Keogh contributions. Enter your allow-
21
on your federal return from Form 3903.
able IRA and Keogh contributions on line 21.
Oregon column. Fill in moving expenses only if they
Oregon follows the federal definition of earned income
are connected with gaining employment in Oregon or
and compensation used to calculate your IRA and Keogh
moving to Oregon to take a job elsewhere. Otherwise,
deductions.
enter -0-. For example, if you moved from California to
Federal column. Fill in the total amounts you reported
Washington to take a job in Oregon, your allowable
on your federal return.
moving expenses should be entered in the Oregon col-
Oregon column. You may be limited in the amount of
umn. If you left Oregon to take a job outside of Oregon,
your IRA and Keogh contributions you can deduct for
your expenses are not deductible.
Oregon. Figure the amount you paid while you were an
Deduction for self-employment tax.
Oregon resident. Add to that the amount calculated for
25
the time you were a nonresident.
Federal column. Fill in the same amount you reported
IRA. For the part of the year you were a nonresident,
on your federal return.
multiply your federal IRA deduction by the amount of
Oregon column. Fill in the amount of your federal
compensation earned in Oregon divided by your com-
self-employment tax deduction related to earnings
pensation from all sources.
from Oregon sources while you were a nonresident
Oregon compensation
Federal IRA
Oregon
×
=
and earnings from all sources while you were a resi-
deduction
deduction
Total compensation
dent. The Oregon deduction cannot exceed the fed-
Keogh. For the part of the year you were a nonresident,
eral deduction. Use the following formula:
multiply your federal Keogh deduction by the amount
Oregon self-employment
of earned income from Oregon sources divided by your
earnings while a nonresident
earned income from all sources.
plus self-employment
earnings while a resident
Federal deduction for
Oregon
×
=
Oregon earned
Total self-employment earnings
self-employment tax
deduction
income
Federal Keogh
Oregon
×
=
deduction
deduction
Total earned income
Self-employed health insurance deduction.
26
The deduction in the Oregon column is subject to:
Federal column. Fill in the same amount you reported
1. The federal limitations, and
on your federal return.
2. Income included in the Oregon column.
Oregon column. Fill in the deduction amount related
to self-employment earnings taxable to Oregon. Use the
Student loan interest.
22
following formula:
Federal column. Fill in the same amount you reported
Total Oregon source
Oregon
×
45% (.45)
=
health insurance premiums
deduction
on your federal return from Form 1098-E.
Total Oregon source health insurance premiums are those
Oregon column. Nonresidents—fill in the amount of
premiums paid for by an Oregon business while you
this deduction related to Oregon source income. Divide
were a nonresident plus premiums paid for by any quali-
Oregon income by federal income from all sources and
fying business while you were a resident.
multiply this by the amount of student interest. Full-year
residents and part-year residents will generally deduct the
The deduction is limited to earned income for which the
same amount as for federal.
insurance plan was established.
Medical savings account contributions. Enter
Penalty on early withdrawal of savings.
23
27
your allowable medical savings account (MSA)
contributions on line 23. Oregon follows the federal defi-
Federal column. Fill in the same amount of penalty you
nitions of allowable contributions.
reported on your federal return.
Federal column. Fill in the amounts you reported on
Oregon column. Fill in the amount of penalty related
your federal return from Form 8853.
to the amount of withdrawal of savings taxed by Oregon.
Oregon column. Nonresidents—you may be limited in
Alimony paid.
28
the amount of MSA contributions you can deduct for
Oregon. Use the IRA formula above to figure the por-
Federal column. Fill in the same amount you reported
tion of the federal deduction allowed for Oregon. Full-
on your federal return.
year and part-year residents will generally deduct the
same amount as for federal. The deduction can’t be more
Oregon column. For the portion of the year that you were
than your Oregon income.
a resident, all of the alimony you paid is deductible.
24/Adjustments to income
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial