Oregon subtraction for jobs credit - (600) The computation of Mary's passive loss for Oregon is shown below: She shows an addition for depreciation for Oregon of $1,000 and a subtraction for a jobs credit of $600. (M) The subtraction provided in ORS 316.056 for interest or dividends on obligations of Oregon political subdivisions, provided the interest or dividends are derived in the ordinary course of the passive activity.Įxample: Mary has a post-1987 nonrental passive activity loss for federal purposes of $13,500. This modification applies if the property disposed of was used in the passive activity. (L) The addition provided in ORS 316.680(2)(e) for deferred gain on involuntary conversions or exchanges of Oregon property, the proceeds of which are reinvested in property outside Oregon. (K) The subtraction provided in ORS 316.744 for energy conservation payments if the energy conservation measure was undertaken with respect to the passive activity. (J) The addition or subtraction provided in ORS 316.873 for deferral of gain on the sale of capital assets, if the assets were held or sold in the ordinary course of the passive activity.
(I) The addition or subtraction provided in ORS 316.872 for deferral of gain on the sale of small business securities if the securities were held or sold in the ordinary course of the passive activity. (H) The subtraction provided by ORS 314.210 for the elimination of excess profits on government contracts if such profits were derived in the ordinary course of the passive activity. (G) The subtraction for wage expense paid or accrued with respect to the passive activity but not deducted in arriving at federal taxable income because the federal targeted jobs credit under IRC Section 51 was claimed. government if the interest or dividends are derived in the ordinary course of the passive activity. (F) The subtraction provided in ORS 316.680(1)(a) for interest or dividends on obligations of the U.S. (E) The addition provided by ORS 316.680(2)(d) for depletion in excess of the adjusted basis of property if the property is used in the passive activity. (D) The addition provided in ORS 316.723 for public utility stock dividends and the subtraction for gain or loss on the sale of public utility stock where dividends were reinvested, provided the dividends and gain or loss are derived in the ordinary course of the passive activity. (C) The addition or subtraction provided in ORS 316.716 due to a difference in basis, upon the taxable sale, exchange or disposition by the taxpayer of an asset used in the passive activity. (B) The addition or subtraction provided in ORS 316.707 for differences in depreciation of assets used in the passive activity. (A) The addition provided in ORS 316.680(2)(a) for interest or dividends on obligations of another state, provided the interest or dividends are derived in the ordinary course of the passive activity. Modifications that may apply to passive activities of individuals include but are not limited to the following:
(a) Modifications to Federal Passive Activity Losses. The Oregon passive activity loss shall be equal to the federal passive activity loss (defined in IRC Section 469(d)) as modified by the additions, subtractions, modifications or adjustments provided in ORS Chapters 314, 316, 317, and 318 as they relate to passive activities (defined in IRC Section 469(c)). Allocation of Oregon Modifications to Passive Activity Losses
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