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Understanding Oregon Form OR-ASC other addition and subtraction codes

SOLVEDby Intuit42Updated 1 year ago

This article will assist you with understanding Oregon's other addition and other subtraction codes from Schedule OR-ASC, Oregon Adjustments for Form OR-40 Filers. Information in this article is taken from the Publication OR-CODES.

Additions are items the federal government doesn’t tax but Oregon does. For detailed information, see Publication OR-17.

Step 1: Complete the table in Section 1 with the code and amount reported for each addition. Each code should only be listed once.
Step 2: Fill in the total of all additions. Enter this amount on Form OR-40, line 8.

Subtractions are items the federal government taxes but Oregon doesn’t. See below for information regarding commonly claimed subtractions. For detailed information, see Publication OR-17.

Step 1: Complete the table in Section 2 with the code and amount reported for each subtraction that isn’t listed on the return. Each code should only be listed once.
Step 2: Fill in the total of all subtractions. Enter this amount on Form OR-40, line 13.

Adjustments—Schedule OR-ASC-NP, Section A only.

DescriptionOR-40OR-40-NOR-40-PCode
Certain business expenses of reservists, performing artists, and fee-basis government
officials–Form 1040, Schedule 1, Line 12
XX2
Health savings account deduction—Form 1040, Schedule 1, Line 13XX3
Penalty on early withdrawal of savings—Form 1040, Schedule 1, Line 18XX4
Other adjustments on Form 1040, Schedule 1, Line 23 and 25XX5

Oregon Additions—Schedule OR-ASC, Section A or OR-ASC-NP, Section B.

DescriptionOR-40OR-40-NOR-40-PCode
Claim of right income repaymentsXXX103
Disposition of inherited Oregon farmland or forestlandXXX106
Federal election on interest and dividends of a minor childXXX107
Federal income tax refundsX109
Net operating loss—non-Oregon sourceXXX116
Oregon College and MFS 529 Savings Plan subtraction nonqualified withdrawalXXX117
Oregon deferral of reinvested capital gainXXX118
Partnership and S corporation modifications for OregonXXX119
Unused business creditsXXX122
Federal subsidies for employer prescription drug plansXXX123
Federal law disconnectXXX131
Accumulation distribution from certain domestic trustsXXX132
Fiduciary adjustment from Oregon estates and trustsXXX133
Gambling losses claimed as an itemized deductionX134
Refund of Oregon-only itemized deductions from a prior yearXXX136
IDA nonqualified withdrawalXXX137
Oregon IDA Initiative Fund donation credit add backX138
Lump-sum distribution from a qualified retirement planXXX139
Passive foreign investment company incomeXXX140
Child Care Fund contributionsX142
Oregon Production Investment Fund contributionsX144
University Venture Development Fund contributionsX146
Income taxes paid to another state by a pass-through entityXXX148
Basis of business assets transferred into OregonXXX150
Depletion in excess of property basisXXX151
Depreciation difference for OregonXXX152
Federal depreciation disconnectXXX153
Gain or loss on sale of depreciable property with different basis for OregonXXX154
Passive activity lossesXXX155
Suspended lossesXXX156
Federal estate taxX157
Interest and dividends on government bonds of other statesXXX158
Federal subtraction for retirement savings rollover from individual development accountXXX159
Disqualified charitable donationsX160
Nonresident capital losses and loss carryoversXXX161
Capital loss carryover differenceXXX162
WFHDC medical expensesX163
ABLE account subtraction nonqualified withdrawalXXX164
College Opportunity Grant contributionsX165
First-time home buyer savings account nonqualified withdrawalXXX166
PTE-E tax deducted on entity-level federal returnXXX167
CPAR additionXXX187

Subtractions—Schedule OR-ASC, Section B or OR-ASC-NP, Section C.

DescriptionOR-40OR-40-NOR-40-PCode
American IndianXXX300
Artist's charitable contributionX301
Construction worker and logger commuting expensesXXX303
Federal gain previously taxed by OregonXXX306
Federal pension incomeXXX307
Federal income tax paid for a prior yearX309
Fiduciary adjustment from Oregon estates and trustsXXX310
Foreign income taxX311
IDA contributionsXXX314
Interest and dividends on U.S. bonds and notesXXX315
Land donation to educational institutions carryforwardXXX316
State and local government bond interestXXX317
Military payXXX319
Federal mortgage interest creditX320
Net operating loss for OregonXXX321
Oregon Lottery winningsXXX322
Partnership and S corporation modifications for OregonXXX323
Oregon College and MFS 529 Savings Plan deposits carryforwardXXX324
Oregon income tax refundXX325
Previously taxed employee retirement plan contributionsXXX327
Public Safety Memorial Fund awardXXX329
Railroad Retirement Board benefitsXXX330
U.S. government interest in IRA or Keogh distributionsXXX331
Scholarship awards used for housing expensesXXX333
Legislative Assembly expensesXXX335
Film production labor rebate—Greenlight Oregon Labor Rebate FundXXX336
Manufactured dwelling park capital gain exclusionXXX338
Capital Construction Fund contributionsXXX339
Federal tax creditsXXX340
Income on a composite returnXX341
Oregon Investment AdvantageXXX342
Manufactured dwelling park closure paymentsXXX344
Taxable benefits for former RDPsXXX347
Previously taxed IRA conversionsXXX348
Special Oregon medicalXXX351
DISC dividend paymentsXXX352
Depreciation difference for OregonXXX354
Gain or loss on sale of depreciable property with different basis for OregonXXX355
Passive activity lossesXXX356
Suspended lossesXXX357
Basis of business assets transferred into OregonXXX358
Marijuana business expensesXXX359
ABLE account deposit carryforwardXXX360
First-time home buyer savings account contributions and earningsXXX361
AmeriCorps educational awardXXX362
CPAR subtractionXXX384
Psilocybin business expensesXXX385

Modifications—Schedule OR-ASC-NP, Section D only.

DescriptionOR-40OR-40-NOR-40-PCode
Artist’s charitable contributionX600
Federal income tax refunds +XX601
Federal income tax paid for a prior yearXX602
Foreign income taxXX603
Gambling losses claimed as an itemized deduction +XX604
Federal estate tax +XX605
Federal mortgage interest creditXX607
Federal tax creditsXX609
Child Care Fund contributions +XX642
Oregon Production Investment Fund contributions +XX644
University Venture Development Fund contributions +XX646
Oregon IDA Initiative Fund donation credit add back +XX648
Claim of right income repayment +XX649
Disqualified charitable donations +XX650
WFHDC medical expenses +XX651
College Opportunity Grant Fund contributions +XX652

+Must be entered as a negative number.

Standard credits—Schedule OR-ASC, Section C or OR-ASC-NP, Section E.

DescriptionOR-40OR-40-NOR-40-PCode
Income taxes paid to another state on mutually-taxed incomeXXX802
Mutually-taxed gain on the sale of residential propertyXXX806
Oregon Cultural Trust contributionsXPRPR807
Oregon Veterans' Home physiciansXPRPR808
Political contributionsXX809
Reservation enterprise zoneXPRPR810
Retirement incomeXXX811
Rural emergency medical service providersXPRPR812
Rural health practitionersXPRPR813
Pass-through income taxes paid to another stateXXX815

PR indicates a credit that must be prorated

Carryforward credits—Schedule OR-ASC, Section D or OR-ASC-NP, Section F.

DescriptionOR-40OR-40-NOR-40-PCode
Agriculture workforce housingXPRPR835
Business energy carryforwardXXX839
Child Care Fund contributions carryforwardXXX841
Crop donationXPRPR843
Electronic commerce zone investment carryforwardXXX845
Employer scholarshipXPRPR847
Energy conservation projectXXX849
Fish screening devicesXPRPR850
Oregon IDA Initiative Fund donationXXX852
Oregon Low Income Community Jobs Initiative/New MarketsXXX855
Oregon Production Investment Fund contributions (auction)XXX856
Renewable energy resource equipment manufacturing facility carryforwardXXX860
Residential energy carryforwardXXX861
Transportation projectsXXX863
University Venture Development Fund contributionsXPRPR864
Rural technology workforce developmentXPRPR868
Bovine manure production/collection carryforwardXXX869
College Opportunity Grant Fund contributions (auction)XXX871
Short line railroad rehabilitationXPRPR872

PR indicates a credit that must be prorated.

Carryforwad credits available only to S corporate shareholders.

DescriptionOR-40OR-40-NOR-40-PCode
Alternative qualified research activities carryforward (S corporation)XXX837
Lender’s credit: energy conservation carryforward (S corporation)XXX848
Long-term enterprise zone facilities carryforward (S corporation)XXX853
Lender’s credit: affordable housing (S corporation)XXX854
Qualified research activities carryforward (S corporation)XXX858

Tax recaptures—Schedule OR-ASC, Section E or OR-ASC-NP, Section G.

DescriptionOR-40OR-40-NOR-40-PCode
Tax recapture—ABLE account nonqualified withdrawalXXX950
Tax recapture—Oregon 529 College Savings Network account nonqualified withdrawalXXX951

PR indicates a credit that must be prorated

Refundable credits—Schedule OR-ASC, Section F or OR-ASC-NP, Section H.

DescriptionOR-40OR-40-NOR-40-PCode
Claim of right income repaymentXXX890
Manufactured dwelling park closureXXX891
Working family household and dependent care (WFHDC)XPRPR895
Oregon 529 College Savings Network account contributionsXPRPR896
ABLE account contributionsXPRPR897
Oregon EIC for ITIN filersXPRPR898
Pass-through entity elective taxes paidXXX900

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