Oregon Amended Schedule For Amending Individual Income Tax Returns Page 4
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6How do I amend for a net operating loss (NOL)?
Example 3: You received a federal tax refund in 2011 for
amending your 2008 income tax return. You may need to
Generally, if you carry an NOL back for federal purposes,
report the refund as an addition on your 2011 return. If you
you also must carry the Oregon NOL back for Oregon pur-
already filed your 2011 return, you may need to amend it.
poses. There is an exception if you were not required to file
an Oregon return for all years to which the federal NOL
Federal refund worksheet
deduction is applied. If you elect to carry forward the federal
Use this worksheet to determine the tax benefit received
NOL, then you must also carry forward the Oregon NOL.
and the amount to include in Oregon income in the year
you received the refund.
An Oregon NOL is defined the same as a federal NOL.
However, you may have an Oregon NOL without having
1. Enter the federal tax liability on your
1.
a federal NOL. Your Oregon NOL is computed under the
original federal return.
federal methods. The only modification is for amounts
2. Enter the federal tax subtraction limit for
2.
that Oregon is prohibited from taxing, such as interest
the year you are amending.
from U.S. Series EE, HH, or I bonds (U.S. government
3. Line 1 minus line 2. (Enter -0- if line 2 is
3.
interest).
greater than line 1.)
Generally, an NOL for a full-year resident is the same as the
4. Enter the refund of the prior year’s federal
4.
federal NOL. Nonresidents are allowed an Oregon NOL if
tax.
it is generated from Oregon sources.
5. If line 3 is greater than line 4, no
5.
adjustment is needed on your Oregon
If you are amending for an NOL, be sure to check the
amended return. If line 4 is greater than
“amending due to an NOL” box on the amended schedule
line 3, enter line 4 minus line 3 here and
and show the year of the NOL and the NOL calculations.
on your Form 40 as an addition and
identify with code 109; or on your Form
Do I change my federal tax liability on my
40N or Form 40P as an other deduction or
amended return?
modification and identify with code 601.
Usually not, but follow these special instructions for federal
tax liability:
Line instructions for the amended schedule
• Did we correct the federal tax subtraction on your original
Instructions are for lines not fully explained on the form.
return? If so, use the corrected amount from our notice.
Write the tax year that you are amending on the Oregon
• Did you amend your federal return before the due date
Amended Schedule.
(not including extensions) of the original return? If so, the
federal tax on your amended federal return is the amount
Do not fill in cents. You must round off cents to the near-
you will use for your amended Oregon return. There will
est dollar. For example, $24.49 becomes $24.00 and $24.50
be no addition or subtraction in a later year.
becomes $25.00.
• Did you pay additional federal tax because you were
audited or filed an amended return after the due date of
Tax
the original return? If so, claim the additional federal tax
as a subtraction on your Oregon return in the year you
101. Net income tax as amended. This is your amended
paid the additional tax.
tax after nonrefundable credits from your amended return
• Did you get a refund of federal tax because you were
(do not include refundable tax credits, see line 103). If your
audited or filed an amended return after the due date
credits are more than your tax, enter -0-.
of the original return? If so, show the federal tax refund
as an addition on your Oregon return in the year you
Payments and refundable credits
received the refund, but only if you received a tax benefit.
102. Oregon income tax withheld as amended. If you are
See the federal refund worksheet below.
correcting the amount of state tax withheld, you must
Example 1: You received a notice from the Oregon Depart-
attach a copy of any additional or corrected Form W-2 or
ment of Revenue in May and are filling out an amended
1099. If this hasn’t changed, enter the amount from your
return in July. The notice stated that your federal tax sub-
previous return.
traction was reduced from $3,500 to $3,000. You will use
103. Refundable tax credits as amended. Enter the appropri-
the corrected federal tax subtraction of $3,000, on your
ate amounts as directed below from your amended return
amended return.
on lines 103a, 103b, and 103c.
Example 2: You paid additional federal tax in 2011 for an
103a. Earned income credit (EIC) as amended. Tax years
audit adjustment on your 2008 federal tax return. Amend
2005 and earlier, enter -0- and go to line 103b. Tax years
your 2008 Oregon tax return for the audit adjustments, but
2006 and later, enter your corrected Oregon earned income
do not change the 2008 federal tax subtraction. You can
credit from your amended return. If your federal EIC hasn’t
subtract the additional 2008 federal tax liability you paid in
changed, your Oregon EIC will be the same as on your pre-
2011 on your 2011 return up to the limit. See instructions in
the 2011 income tax booklet for limits.
vious return.
2
150-101-061 (Rev. 12-11)
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