Instructions For 2003 Form Fia-40 - Farm Income Averaging (Page 3 of 3) in pdf

line 5. This figure represents John’s recomputed Oregon

not have an NOL for tax year 2002. John enters a negative

taxable income for tax year 2000.

$1,750 on line 11 of the 2002 worksheet.

John had a $3,000 net capital loss deduction on Schedule D,

For tax year 2001, John’s taxable income from Form 40, line

line 18, a $7,000 loss on Schedule D, line 17, and a $5,000

28 is negative $30,250, which he enters on line 6 of the 2001

capital loss carryover to 2002 (his 2001 capital loss carryover

worksheet.

to 2002 was $5,000, not $4,000, because his federal taxable

John had a $3,000 net capital loss deduction on Schedule D,

income before exemptions was a negative $1,000). John adds

line 18 and a $7,000 loss on Schedule D, line 17, the carryover

the $3,000 from Schedule D, line 18, and the $5,000

from 2000 to 2001. John adds the $3,000 from Schedule D,

carryover. He reduces the result by the $7,000 loss on his

line 18, and the $7,000 carryover. He subtracts from the re-

Schedule D, line 17, and enters $1,000 on line 12 of the 2002

sult the $7,000 loss on Schedule D, line 17, and enters $3,000

worksheet.

on line 7 of the worksheet. John enters $22,950 on line 8 of

John enters -0- on line 13 of the worksheet because he does

the worksheet, his 2001 NOL.

not have an NOL for 2002 and did not have any remaining

John enters $25,950 ($22,950 and $3,000) on line 9 of the

NOLD to carryforward. John’s $2,300 NOLD for 2002 was

worksheet. He adds line 6 and line 9 and enters the result,

reduced to -0- because it did not exceed his federal AGI as

a negative $4,300, on line 10 of the worksheet and on Form

modified for the capital loss deduction, the net operating

FIA-40, line 9. This figure represents John’s recomputed Or-

loss, and the standard or recomputed itemized deductions.

egon taxable income for tax year 2001.

John adds lines 12 and 13 and enters $1,000 on line 14 of the

For tax year 2002, John’s taxable income from Form 40, line

worksheet. John adds lines 11 and 14 and enters the result,

28 is negative $1,750. This amount includes an NOLD of

a negative $750, on line 15 of the worksheet and on Form

$2,300 which was the portion of the 2001 NOL that was re-

FIA-40, line 13. This figure represents John’s recomputed

maining to be carried forward from tax year 2000. John does

Oregon taxable income for tax year 2002.

Taxpayer assistance

Telephone

503-378-4988

Salem ...........................................................

Internet

1-800-356-4222

Toll-free within Oregon ...........................

If you have a touch-tone telephone, call our 24-hour voice

response system at one of the numbers above to:

The Department of Revenue Web site is a

quick and easy way to download forms and

• Hear recorded tax information

publications, get up-to-the-minute tax

• Order tax forms.

information, and learn about electronic

• Check on the status of your 2003

filing.

personal income tax refund

(beginning March 15).

Correspondence

For help from Tax Services, call one of the numbers above:

Write to: Oregon Department of Revenue,

Monday, Tuesday, Thursday, Friday .................. 7:30 a.m.–5:10 p.m .

955 Center St NE, Salem OR 97301-2555.

Wednesday ............................................................... 10:00 a.m.–5:10 p.m.

Include your Social Security number and a day-

Closed on holidays.

time telephone number for faster service.

April 1–April 15, Monday–Friday ........................ 7:00 a.m.–9:00 p.m.

April 3 and April 10 .................................................. 9:00 a.m.–5:00 p.m.

Field offices

Wait times may vary.

TTY (hearing or speech impaired; machine only): 503-945-

Get forms and assistance at these offices. Don’t send your re-

8617 (Salem) or 1-800-886-7204 (toll-free within Oregon).

turn to these addresses.

Americans with Disabilities Act (ADA). This information is

Pendleton

Bend 951 SW Simpson Drive, Suite 100

Portland

available in alternative formats. Call 503-378-4988 (Salem)

Tualatin

Eugene 1600 Valley River Drive, Suite 310

Salem

or 1-800-356-4222 (toll-free within Oregon).

Newport

Medford 24 West 6th Street

Bend

Eugene

Asistencia en español. Llame al 503-945-8618 en Salem o

Newport 119 NE 4th Street, Suite 4

North Bend

O R E G O N

llame gratis al 1-800-356-4222 en Oregon.

North Bend 3030 Broadway

D E PA R T M E N T

O F R E V E N U E

Medford

Pendleton 700 SE Emigrant Ave, Suite 310

Portland* Federal Building Lobby, 1220 SW Third Avenue

To get forms

Portland 800 NE Oregon Street, Suite 505

Salem Revenue Building, 955 Center Street NE, Room 135

Income tax booklets are available at many post offices,

Salem 4275 Commercial Street SE, Suite 180

banks, and libraries. For booklets and other forms and

Tualatin 6405 SW Rosewood Street, Suite A

publications, you can also access our Web site, order by

telephone, or write to: Forms, Oregon Department of

* January 21–March 26: Monday, Wednesday, and Friday,

Revenue, PO Box 14999, Salem OR 97309-0990.

10 a.m.– 3 p.m. March 29–April 15: Monday–Friday, 9 a.m. –4 p.m.

150-101-160 (Rev. 12-03)

Instructions For 2003 Form Fia-40 - Farm Income Averaging Page 3

Related Articles

Related forms

Related Categories