Worksheet Cr - Claim Of Right Income Repayments Page 5
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9Example 4: Adam’s addition worksheet for deduction on Schedule A
1. Form 40 filers—Enter your net Oregon itemized deductions from line 25.
Form 40N or 40P filers—Enter your Oregon itemized deductions from line
43* ................................................................................................................................. 1.
$8,000
2. Enter the federal deduction for claim of right included on federal Schedule
A, line 28 ...................................................................................................................... 2.
5,000
3. Line 1 minus line 2. This is your Oregon itemized deductions without the
claim of right deduction ............................................................................................ 3.
3,000
4. Enter your Oregon standard deduction (Form 40, line 26; Form 40N or 40P,
line 44) .......................................................................................................................... 4.
3,265
5. Is line 3 larger than line 4?
Yes. Enter zero.
ü
No. Enter line 4 minus line 3 .............................................................................. 5.
265
6. Line 2 minus line 5. This is your Oregon addition if you take the Oregon
Claim of Right credit instead of allowing the deduction to flow through ........ 6.
$4,735
Since Adam’s itemized deductions would have been less than his standard deduction of $3,265, his addition is reduced. He
only has to add back the benefit received of $4,735. Next he’ll complete the deduction worksheet below.
Deduction comparison worksheets
If you claimed a deduction on your federal return for your repayment that was over $3,000 and was previously taxed by
Oregon, use the appropriate worksheet below depending on the type of form you’re filing for the year of the repayment.
The worksheet will show if you benefit more from allowing the federal deduction to flow through or claiming the credit for
Oregon instead. Unless otherwise stated, all references are to the tax year when you repaid the income.
Deduction worksheet for Form 40 filers
Complete your Oregon Form 40 through line 28 (for the tax year the repayment was made) 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 (page 4), enter the amount from line
6 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 (page 1) ... 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 to your Oregon return. If line 7 is more than line 6, claim the
Oregon claim of right credit. Remember, you must add back the federal deduction to claim the credit.
Do not attach this worksheet to your Oregon return. Keep it with your tax records.
150-101-168 (Rev. 12-14)
Page 5
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