Finance Q&A

Oregon income tax question regarding refunds ?

Edwards Finance > Loans

Q. Oregon income tax question regarding refunds ? This is an Oregon state income tax question: In Oregon, for tax puposes, ones income is computed by using the amount from the Federal 1040, line 33. To this certain amounts are added or deducted according to Oregon's various tax rules. One problem with this is that the federal amount includes ones state income tax refund (for those who itemize). So, Oregon essentially imposes a tax on its own refund. Is there a way to deduct this from one's taxes? I have searched the Oregon tax booklet without finding a clear answer.

A. -On line 15 of Form 40 Oregon Income Tax 2000 you list your state income tax refund included the income listed on line 8 on the same form. If you follow the instructions clearly listed on the form you will not pay Oregon Income tax on your st

 


Ask Edwards a Finance Question

 

Other Questions:

NC Income Tax ?

NC Income Tax ? My information is that only the first $5,000 of a pension from a "foreign" govt entity is not taxable. These types of details should be checked by everyone individually.-Recently talked with a military retiree who said his ent...

I have questions about Bankruptcy in Michigan

I have questions about Bankruptcy in Michigan. What can you keep? Transfering of property before Bankruptcy. Time limits, and so on.While the general federal rule is one-year (on avoidability of transfers), Michigan has a full body of state law...

U.S. Individual Income Tax Return ?

U.S. Individual Income Tax Return? On 2004, my friend filed his first U.S. Individual Income Tax Return 2003 with form 1040. This year, IRS sent him form 1040A. Did he file the correct form on 2004 ? If not, is it necessary and how to correc...

Overseas "tax free" income?

I am wondering if anyone knows if money earned overseas (in russia), working for a canadian owned company, is taxable in the US? My husband is being asked to go to russia for 6 months, and the company is offering him a very handsome wage,...

Questions about Personal Bankruptcy

Due to a bunch of credit card bills I have that are killing me, I may need to fle personal Bankruptcy. Can someone tell me what this will do to me? WIll I be able to keep my house and car and the equipment i need for my business? Im in NJ. h...

 

Edwards Finance Menu

Ask a Question
About Us / Me
Contact Me
Privacy Policy

Sitemap

My Favorite Sites

PFBlog
Google Finance
Yahoo Finance
Motley Fool
Nveille's Financial Blog
AllFinanceMatters
Free Money Finance
2MillionBlog
The Terror Finance blog

Q&A Subjects

Loans
Phones
Computer Engineering
Debt Management
Bankruptcy
Payday Loan
Bad Credit
Capital Gains