Oregon personal income tax: Subtractions
| Subtractions—Schedule OR-ASC (section 2) or OR-ASC-NP (section 3) | OR-40 | Code |
|---|---|---|
| Special Oregon medical | X | 351 |
| DISC dividend payments | X | 352 |
| Depreciation difference for Oregon | X | 354 |
| Gain or loss on sale of depreciable property with different basis for Oregon | X | 355 |
What is the Oregon retirement income credit?
The credit is available to seniors with a household income of less than $22,500 (or $45,000 for joint filers) and Social Security income of less than $7,500 (or $15,000 for joint filers). The credit is calculated according to a fairly complicated formula, but it is equal to no more than 9% of your pension income.
What are eligible expenses for special Oregon Medical subtraction?
Only the medical and dental expenses on Schedule A, line 1 ($2,000) can be used in the calculation of eligible expenses for the special Oregon medical subtraction because deduction for the self-employed health insurance was already used in the calculation of Oregon taxable income and employee insurance is not an eligible expense.
How old do you have to be to get medical subtraction in Oregon?
For tax year 2018, you or your spouse must be age 65 or older on December 31, 2018 to qualify for the subtraction. Special Oregon medical subtraction [code 351]. If you or your spouse were age 65 or older on December 31, 2018 and have qualifying medical and/or dental expenses, you may qualify for the special Oregon medical subtraction.
What kind of expenses can you deduct in Oregon?
Instructions for 2019 Schedule OR-A Oregon Itemized Deductions 2019 Congress extended several tax provisions by passing Public Law 116-94. As a result, these instructions were updated on January 2, 2020. 150-101-007-1 (Rev. 02-20-20) 2 Lines 1 through 4 Line 1. Medical and dental expenses.
What are medical expenses not allowed under ORS 316.693?
Medical and dental expenses not allowed for this subtraction include expenses: Paid on behalf of any other individual who is not an eligible taxpayer or eligible spouse of the taxpayer under ORS 316.693 (Subtraction for medical expenses of elderly individuals).
