Political Contribution Credit - (code 809)
Oregon law allows a tax credit for political contributions. You may not claim this credit if your federal adjusted gross income exceeds $150,000 on a jointly filed return, or $75,000 on all other returns.
To qualify, you must have contributed money in the tax year you claim the credit. You have to reduce the amount of your contribution by the fair market value (FMV) of any items or services you receive in exchange for your contribution. Contributions of goods or services do not qualify. Keep receipts from the candidate or organization with your tax records. You can use copies of cancelled checks as your receipt.
Your credit is equal to your contribution, limited to $100 on a joint return or $50 on a single or separate return. The $3 check-off on the Oregon tax return does not qualify for this credit.
What are the Standard, Nonrefundable Credits?
Credit for Taxes Paid to Another State - (code 802) If you pay tax to Oregon and another state on the same income, you have “mutually-taxed income.”
In certain circumstances, you may be able to claim a credit on your Oregon return for income taxes paid to another state. Only take a credit for tax paid to another state if Oregon taxed the income and the other state also had a right to tax the same income.
If you were a full-year Oregon resident: You may claim the credit on your Oregon return only if you pay tax on the same income to both Oregon and a state other than Arizona, California, Indiana, or Virginia. If you are a full-year Oregon resident with income that is taxed by Arizona, California, Indiana, or Virginia, you must claim the credit on the nonresident return that you file with that state; don't claim the credit on your Oregon return.
This credit is only for state income tax. You cannot claim this credit for city or county income tax, sales, tax, alternative minimum tax (AMT), property tax, or other state taxes that aren't based on income. Your credit for a full-year resident is the smallest of the following:
- Your Oregon tax after all other credits; or
- The tax you actually paid to the other state.
The program will automatically calculate this credit for your Resident Oregon return when you add a Nonresident other state return to your account. If you have a Part-Year Oregon return, you will need to manually enter the information asked within the Oregon state program.
Mutually Taxed Gain on Sale of Residential Property (code 806) If you sell your home and pay tax to Oregon taxable gain will be the same as your federal taxable gain. Generally, any gain will also be excluded on your Oregon return.
Exception: If you were renting out a house and then converted it to your personal residence, the Oregon basis may be different from the federal basis due to depreciation differences.
You may qualify for this credit only if the gain on the sale of your residential property is taxed by both Oregon and another state or country. You may claim either this credit or the credit for income taxes paid to another state, but not both. You aren’t eligible to claim this credit if you qualify for a credit for taxes paid to another state on the other state’s tax return.
Oregon Cultural Trust Contributions (code 807)- If you make a donation to an Oregon nonprofit cultural organization during the tax year, you can make a matching donation to the Trust for Cultural Development Account and get an Oregon tax credit.
Oregon Veterans' Home Physicians - (code 808)- This credit is available to physicians who provide medical care to residents of an Oregon Veterans’ Home (OVH).
Reservation Enterprise Zone - (code 810)- Businesses in an Oregon reservation enterprise zone that pay tax to tribal governments, may be able to claim a credit against their Oregon income tax.
Retirement Income Credit - (code 811)
If you were age 62 or older on December 31, 2017, and receiving taxable retirement income, you may qualify for this credit. Retirement income includes payments in Oregon taxable income from:
- State or local government public pensions.
- Employee pensions.
- Individual retirement plans.
- Employee annuity plans.
- Deferred compensation plans including defined benefits, profit sharing, and 401(k)s.
- Federal pensions (includes military) not subtracted from Oregon taxable income.
How do you qualify for this credit?
- Your household income is less than $22,500 ($45,000 if married filing jointly), and
- Your Social Security benefits and/or Tier 1 Railroad Retirement Board benefits are less than $7,500 ($15,000 if married filing jointly), and
- Your household income plus your Social Security and/or Tier 1 Railroad Retirement Board benefits is less than $22,500 ($45,000 if married filing jointly).
You can claim this credit or the credit for the elderly or the disabled, but not both.
Rural Emergency Medical Technicians (code 812)- Emergency medical service providers who provide volunteer services in a qualifying rural area, may be eligible to claim this tax credit.
Rural Medical Practitioners (code 813) - A tax credit is available for health practitioners in certain rural areas of Oregon. The credit is based on eligibility requirements determined by the Office of Rural Health.
What are the Oregon Carryforward Credits?
- Agriculture Workforce Housing (code 835)
- Agriculture Workforce Housing Loans (S corporation) (list on Oregon K-1)
- Alternative Qualified Research Activities (code 837)
- Biomass Production/Collection (code 838)
- Bovine Manure Production/Collection (869)
- Business Energy (code 839)
- Child and Dependent Care (code 840)
- Child Care Fund Contributions (code 841)
- College Opportunity Grant Contributions (code 871)
- Crop Donation (code 843)
- Electronic Commerce Zone Investment (code 845)
- Employer-provided dependent care assistance carryforward (code 846)
- Employer Scholarship (code 847)
- Long Term Enterprise Zone Facilities (S corporation) (code 853)
- Lender's Credit: Affordable Housing (S corporation) (code 854)
- Lender' Credit: Energy Conservation Carryforward (S Corp)
- Energy Conservation Projects (code 849)
- Fish Screening Devices (850)
- Oregon IDA Initiative Fund donation (852)
- Oregon Low Income Community Jobs Initiative (code 855)
- Oregon Production Investment Fund (code 856)
- Pollution Control Facilities (code 857)
- Qualified Research Activities (S corporation) (code 858)
- Reforestation of Underproductive Forestlands (code 867)
- Renewable Energy Development Contributions (code 859)
- Renewable Energy Resource Equipment Manufacturing Facility (code 860)
- Residential Energy (code 861)
- Transportation Projects (code 863)
- Rural Technology Workforce Development (868)
- University Venture Fund (code 864)
These credits are not refundable. They can't exceed your tax liability for the current tax year, but you may carry forward the unused amount to a later tax year.
What are the Refundable Credits?
Oregon Working Family Household and Dependent Care Credit (code 895)- If you paid for dependent care during the year for one or more qualifying individuals and meet the income limitations, you may be eligible for this credit.
Mobile Home Credit (code 891)- You may qualify for this credit if you moved out of a mobile home park during the tax year, due to the park closing.
Claim of Right Income Repayment (code 890)- If you repaid more than $3,000 of income taxed by Oregon in a prior year and claimed a federal claim of right income repayment deduction or credit under IRC Section 1341(a), you may be eligible for this credit.
Oregon surplus credit (kicker)- This credit is not available on the 2020 tax return.
For additional information or specific instructions on the above credits, please refer to the Oregon state instructions, here.