Oregon 2010: Certain customers' tax returns impacted by late legislation
Oregon recently enacted legislation for 2010 Oregon returns which brings Oregon into alignment with Federal legislation enacted in December, 2010.
Certain customers who filed prior to March 25, 2011 may have "added back" federal deductions on their Oregon income tax return. The deductions are now allowed on the Oregon return.
TurboTax fixed this issue.
You are impacted if:
- You filed your Oregon return prior to March 25, 2011; AND
- Your Oregon return included any of the following federal amounts that were listed on Oregon Forms 40, 40P, or 40N as Other Additions:
- Tax-Free distributions from IRA accounts (code 131)
- Qualified Small Business Stock (code 131)
- Tuition and Fees (code 132)
- Educator Expenses (code 132)
- Adult Children Health Insurance (code 133)
- Tuition (code 308)
- Self Employment tax deduction for health insurance (code 346)
If you meet the above criteria, you may have to amend your 2010 Oregon income tax return.