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Category: Oregon

Oregon Additions to Income

Interest and Dividends on State and Local Government Bonds Outside of Oregon

You must add to Oregon income any interest and dividends you received from state and local governments outside Oregon. You do not pay federal tax on this interest, but you do pay Oregon tax.

Example: Include interest from state of Washington bonds or from San Francisco city bonds. Do not include interest from Oregon government bonds or interest from U.S. territories or possessions (such as Guam, Puerto Rico, or the Virgin Islands).

Other Additions to Oregon Income

1. 529 Oregon College Savings Network plan nonqualified withdrawal.

2. Basis adjustments.

  • Basis of business assets transferred to Oregon.
  • Depletion in excess of property basis.
  • Depreciation difference for Oregon.
  • Federal depreciation disconnected
  • Gain or loss on the sale of depreciable property with different basis for Oregon.
  • Passive activity losses.
  • Suspended losses.

3. Business credit, unused.

4. Claim of right income repayments.

5. Disposition of inherited Oregon farmland or forestland.

6. Domestic production activities deduction.

7. Federal election on interest and dividends of a minor child.

8. Fiduciary adjustments.

  • Accumulation distribution from a trust.
  • Federal estate tax on income in respect of a decedent.
  • Fiduciary adjustments from Oregon estates and trusts.

9. Individual Development Account (IDA).

  • Non-qualified withdrawal.
  • Add back for IDA donation credit.

10. Itemized or business deduction addback for Oregon credits.

  • Contributions to: Alternative Fuel Vehicle Fund, Child Care Fund, Oregon Cultural Trust, Oregon Production Investment Fund, Renewable Energy Development, or university venture fund.
  • Income taxes paid to another state.
  • Long-term care insurance premiums.
  • Self-employed long-term care insurance deduction.

11. Lump-sum payment from a qualified retirement plan

12. Net operating loss non-Oregon source.

13. Oregon deferral of reinvested capital gain.

14. Partnership or S corporation modifications for Oregon.

15. Prescription drug plan subsidies.

16. Schedule A deduction addback for Oregon subtractions.

  • Gambling losses claimed as itemized deduction.
  • Oregon only Schedule A item.
  • Refund of Oregon only Schedule A items from a prior year.

17. Specially taxed income under federal law: passive foreign investment company income.

For additional information pertaining to these additions, please click here.