Worksheet Cr - Claim Of Right Income Repayments Page 4
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5Deduction comparison worksheets
If you claimed a deduction on your federal return for your repayment that was over $3,000, use the appropriate worksheet
depending on the type of form you’re filing for the year of repayment. The worksheet will show if you benefit more from
letting the deduction flow through on Federal Schedule A or claiming the credit instead. Unless otherwise stated, all refer-
ences are to the tax year when you repaid the income.
Deduction worksheet for Form 40 filers
Complete your Oregon Form 40 through line 28 allowing the federal deduction to flow through to your Oregon return and
then complete this worksheet.
1. Enter your Oregon taxable income from Form 40, line 28 .................................. 1.
2. If you completed the addition worksheet above, enter the amount from line 8
of the addition worksheet. Otherwise, enter the amount of the claim of right
deduction from your federal return ....................................................................... 2.
3. Add lines 1 and 2. This is your Oregon taxable income with the required
addition when claiming the credit instead ..........................................................
3.
4. Calculate the tax using the tax tables or rate charts for the taxable income on
line 3. Be sure to use the current year tables or charts for the year you repaid
the income .................................................................................................................. 4.
5. Enter the claim of right credit from line 6 of the credit worksheet ................... 5.
6. Line 4 minus line 5. This is your Oregon tax before credits minus the claim
of right credit ............................................................................................................. 6.
7.
Calculate the tax for the Oregon taxable income on line 1. This is your Oregon
tax before credits with the deduction .................................................................... 7.
Compare lines 6 and 7. If line 7 is the same or less than line 6, do not claim the credit on the Oregon return. Instead allow
the deduction claimed on the federal return to flow through. If line 7 is more than line 6, claim the Oregon claim of right
credit. You must add back the federal deduction to claim the credit.
Deduction worksheet for Form 40N or 40P filers
Use this worksheet if you’re filing Form 40N or 40P and claimed a deduction on your federal return for your repayment
that was over $3,000 and previously taxed by Oregon. Unless otherwise stated, all references are to the tax year when you
repaid the income.
To use this worksheet, complete two Oregon tax returns for the year you repaid the income. On the first return, add back
the amount deducted or the amount from the addition worksheet. If your federal deduction is claimed on Schedule A, the
Oregon addition is claimed on line 46, Form 40N or 40P (code 608) as a negative amount, so be sure to put a minus sign in
front of the amount on line 46 or Schedule OR-ASC-N/P.
If your federal deduction is claimed elsewhere on the federal return, your addition is entered on line 33, Form 40N or 40P
(code 103) with the amount corresponding to the deduction claimed in each column. Complete the return through the Oregon
tax before credits line (Form 40N, line 53 or Form 40P, line 52). On the second return, allow the deduction to flow through
to Oregon and complete the return through the Oregon tax before credits line.
1.
Enter the amount from the tax before credits line on the first return you
completed (Form 40N, line 53 or Form 40P, line 52). This is your Oregon tax
before credits after adding back the federal deduction ...................................... 1.
2.
Enter the claim of right credit from line 6 of the credit worksheet ................. 2.
3.
Line 1 minus line 2. This is your Oregon tax before credits minus the claim
of right credit ............................................................................................................ 3.
4.
Enter the amount from the tax before credits line on the second return you
completed (Form 40N, line 53 or Form 40P, line 52). This is your Oregon tax
before credits allowing the deduction to flow through ..................................... 4.
Do not attach this worksheet to your Oregon return. Keep it with your tax records.
150-101-168 (Rev. 12-13)
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