Form Fia-40n - Oregon Farm Income Averaging - 2011
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2011
FORM
FIA-40N
OREGON FARM INCOME AVERAGING
Name(s) as shown on Oregon Form 40N
Social Security number (SSN)
—
—
Federal column
Oregon column
Computation of 2011 Taxable Income
1 Enter income after subtractions from your 2011 Oregon Form 40N, line 38.............. 1a
1b
2 Enter in both columns your elected farm income from Oregon sources
from federal Schedule J, line 2; or from Oregon Form 40N, line 19S ......................... 2a
2b
3 Line 1 minus line 2 in both the federal and Oregon columns ..................................... 3a
3b
4 Recomputed Oregon percentage. Divide line 3b by line 3a
.
(not more than 100.0%)
4 ___ ___ ___
___%
.....................................................................................................
5 Multiply the allowable deductions and modifications from
line 4 of the worksheet for your 2011 Oregon Form 40N, line 47,
by the recomputed Oregon percentage shown above ................................................. 5
6 Enter your deductions and modifications not multiplied by the Oregon
percentage from 2011 Form 40N, line 48 ..................................................................... 6
7 Add lines 5 and 6 ................................................................................................................................................ 7
8 Line 3b minus line 7. Enter the result here ........................................................................................................ 8
9 Figure the tax on line 8 using the 2011 Tax Rate Charts .................................................................................... 9
10 Divide line 2b by 3.0 and enter here ...........................................................................10
Prior Years’ Tax
11 Enter the amount from your 2011 Schedule Z, Computation for Tax Year 2008,
Computation A, line 10; Computation B, line 8; or Computation C, line 4;
whichever applies ............................................................................................................................................... 11
12 Enter the amount from your 2011 Schedule Z, Computation for Tax Year 2009,
Computation A, line 10; Computation B, line 8; or Computation C, line 4;
whichever applies ............................................................................................................................................... 12
13 Enter the amount from your 2011 Schedule Z, Computation for Tax Year 2010,
Computation A, line 10; Computation B, line 8; or Computation C, line 4;
whichever applies ............................................................................................................................................... 13
14 Add lines 9, 11, 12, and 13 ................................................................................................................................. 14
Computation of 2011 Tax
15 2008 Tax. If you used FIA to figure your tax for 2010, enter the amount from your 2010
Form FIA-40, line 12; Form FIA-40N, line 12; or Form FIA-40P, line 11. If you did not
use FIA in 2010 but did for 2009, enter the amount from 2009 Form FIA-40, line 16;
Form FIA-40N, line 13; or Form FIA-40P, line 12. If you did not use FIA in 2010 or 2009
but did in 2008, enter the amount from 2008 FIA-40, line 4; FIA-40N, line 9; or
FIA-40P, line 8. Otherwise, enter the tax from your 2008 Form 40, line 29; Form
40S, line 13; Form 40N, line 51; or Form 40P, line 50......................................................................................... 15
16 2009 tax. If you used FIA to figure your tax for 2010, enter the amount from your 2010
Form FIA-40, line 16; Form FIA-40N, line 13; or Form FIA-40P, line 12. If you did not
use FIA in 2010 but did for 2009, enter the amount from 2009 Form FIA-40, line 4;
Form FIA-40N, line 9; or Form FIA-40P, line 8. Otherwise, enter the tax from your 2009
Form 40, line 29; Form 40S, line 13; Form 40N, line 51; or Form 40P, line 50 ................................................... 16
17 2010 tax. If you used FIA to figure your tax for 2010, enter the amount from your 2010
Form FIA-40, line 4; Form FIA-40N, line 9; or Form FIA-40P, line 8. Otherwise, enter
the tax from your 2010 Form 40, line 29; Form 40S, line 13; Form 40N, line 51; or
Form 40P, line 50 ................................................................................................................................................ 17
18 Add lines 15, 16, and 17 ..................................................................................................................................... 18
19 Line 14 minus line 18 .......................................................................................................................................... 19
20 Figure the tax on the amount on your 2011 Form 40N, line 50, using the Form 40N 2011 tax rate charts
and enter here..................................................................................................................................................... 20
21 Is line 19 less than line 20? If yes, enter the amount from line 19 here and on Form 40N, line 51, and
check box 51b on Form 40N. If no, STOP: your tax is not reduced by using FIA. Complete your
Form 40N without using FIA ............................................................................................................................... 21
150-101-161 (Rev. 12-11)
—Attach your completed Form FIA-40N to your Oregon Form 40N—
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