Form Fia-40n - Oregon Farm Income Averaging - 2011 Page 2
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2011
FORM
FIA-40P
OREGON FARM INCOME AVERAGING
Name(s) as shown on Oregon Form 40P
Social Security number (SSN)
—
—
Federal column
Oregon column
Computation of 2011 Taxable Income
1 Enter income after subtractions from your 2011 Oregon Form 40P, line 38 .............. 1a
1b
2 Enter your elected farm income from Oregon sources
from federal Schedule J, line 2; or from Oregon Form 40P, 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 Enter allowable deductions and modifications from your
2011 Form 40P, line 47 ............................................................................................... 5
6 Line 3a minus line 5. Enter the result here ............................................................................................................ 6
7 Figure the tax on line 6 using the 2011 Tax Rate Charts ...................................................................................... 7
8 Multiply line 7 by the recomputed Oregon percentage on line 4 .......................................................................... 8
9 Divide line 2b by 3.0 and enter here ............................................................................. 9
Prior Years’ Tax
10 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 ............................................................................................................................................... 10
11 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 ............................................................................................................................................... 11
12 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 ............................................................................................................................................... 12
13 Add lines 8, 10, 11, and 12 ................................................................................................................................. 13
Computation of 2011 Tax
14 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 .......................................... 14
15 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 ............................................................................................................................................ 15
16 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. Other-
wise, enter the tax from your 2010 Form 40, line 29; Form 40S, line 13;
Form 40N, line 51; or Form 40P, line 50 ............................................................................................................. 16
17 Add lines 14, 15, and 16 ..................................................................................................................................... 17
18 Line 13 minus line 17 .......................................................................................................................................... 18
19 Figure the tax on the amount on your 2011 Form 40P, line 48, using the 2011 tax rate charts from
Form 40P instructions. Multiply the result by the Oregon percentage on your 2011 Form 40P, line 39.
and enter here..................................................................................................................................................... 19
20 Is line 18 less than line 19? If yes, enter the amount from line 18 here and on Form 40P, line 50, and
check box 50a on Form 40P. If no, STOP: your tax is not reduced by using FIA. Complete your
Form 40P without using FIA ............................................................................................................................... 20
150-101-161 (Rev. 12-11)
—Attach your completed Form FIA-40P to your Oregon Form 40P—
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