WebGenerally, taxpayers deduct the larger amount. Oregon and federal itemized deductions are generally identical. One exception is the deduction for state and local income taxes … WebFeb 13, 2024 · Remember, state refunds aren’t taxable if you itemized and if you opted to deduct state and local sales tax instead of state income tax. Look at line 5a of your …
Oregon Itemized Deductions - Oregon Legislative …
WebYou must complete the Itemized Deductions section of the federal return. Then, you may need to make additional manual adjustments to the amounts claimed on the federal … WebModification of Federal Taxable Income: Itemized vs. Standard Deduction (1) The election of an Oregon taxpayer to itemize or claim a standard deduction is independent of the federal election. ... Oregon State Archives • 800 Summer Street NE • Salem, OR 97310 Phone: 503-373-0701 • Fax: 503-373-0953 • [email protected] ... kim garner daughter of james garner
Filing an Oregon State Tax Return: Things to Know - Credit Karma
WebMar 15, 2024 · A general rule of thumb: If you didn’t deduct state and local income taxes last year, you don’t need to pay taxes on your state and local tax refund this year. For instance, if you didn’t itemize your deductions last year and instead you took the standard deduction, then your state tax refund from the previous year is tax-free this year. WebIn 2024, Congress limited the itemized deduction for state and local taxes to $10,000. The SALT deduction was of greatest benefit to people like me: the lower end of the top quintile of taxpayers. Reading the 2024 federal tax act and section 164(a)(4) and (b)(6) of the Internal Revenue Code, we WebHere is a list of Oregon's additions to income. Interest and Dividends on State and Local Government Bonds Outside of Oregon. 529 or College Savings Plan (non-qualified withdrawal. ABLE account (non-qualified withdrawal) Accumulation Distribution From a Trust. Add Back for IDA Donation Credit. kim garrett childers facebook