Oregon "Federal Employee" Pension Subtraction Calculator (Code 307)


Items marked with an asterisk are required
Do not include disability payments if under the minimum retirement age
(Military Reserves Retirees use a point system; refer to Oregon Pub 17)

Taxpayer's Name
Tax Year
Select residency status Full Year Part Year Non Resident
Enter Data By: Date
Months
Retirement Points (used by US Armed Services)
*Federal Employment Start Date
*Federal Employment End Date Must be on before end of tax year
*Taxable Federal Pension income
FOR OREGON ENTER EITHER
*Oregon Taxable Amount
 OR *Oregon Taxable Percentage
Months Worked prior to 10/1/1991
Total Months Worked
Percentage of Income to Exclude
Subtraction Amount Enter on Oregon Subtractions Worksheet
worksheet.
Percentage of Federal Exclusion
to Exclude from Oregon Income
Subtraction amount for
State column		 Enter as Oregon Amount on Oregon
Part Year Subtractions worksheet.




Instructions for Full Year Residents
Steps
  1. For full year Oregon residents, separately calculate the Oregon Federal Pension subtraction for each federal pension 1099-R with service before 10/1/1991 using the worksheet above. Print a copy of each calculation for the taxpayer's records.

  2. Add the subtractions obtained in step 1 and record in Subtraction Line 307 of the Oregon ASCE Worksheet..

  3. Go to the "Subtraction from Income" page of the TaxSlayer Oregon return. Click the button on the line "Federal Pension Income Subtraction" and enter the sum obtained in Step 2 in that box. Do NOT use the Federal Pension Income Subtraction Worksheet in TaxSlayer.

Instructions for Part Year Residents
Steps
  1. For part year residents, you need the Federal Pension subtraction as if the taxpayer were a full year resident ("Subtraction Amount for Federal column", above), plus the portion of the Federal Pension subtraction attributable to the period of residency ("Subtraction Amount for State column", above).

  2. Separately calculate the Oregon Federal Pension 1099-R subtraction amounts for each federal pension with service before 10/1/1991 using the worksheet. Print a copy of each calculation for the taxpayer's records.

  3. Add the subtraction amounts for the federal column obtained in step 2.

  4. Add the subtraction amounts for the state column obtained in step 2.

  5. Go to the "Subtraction from Income" page of the TaxSlayer Oregon return. Click the button on the line "Federal Pension Income Subtraction". Enter the amount obtained in Step in the box labeled "Federal - Amount of pension eligible for the Federal Pension Income Subtraction" and the sum obtained in Step 4 in the box labeled "Oregon - Amount of pension eligible for the Federal Pension Income Subtraction"
Instructions for Part Year Residents
Steps
  1. For non residents, none of the Federal Pension income is taxed in Oregon. However, you still need to know the Federal Pension subtraction as if the taxpayer were a full year resident in order to compute the non-resident tax.

  2. Separately calculate the Oregon Federal Pension 1099-R subtraction amount for each federal pension with service before 10/1/1991 using the worksheet above. Print a copy of each calculation for the taxpayer's records.

  3. Add the subtractions obtained in step 2 and record in Subtraction Line 307 of the Oregon ASCE Worksheet.

  4. Go to the "Subtraction from Income" page of the TaxSlayer Oregon return. Click the button on the line "Federal Pension Income Subtraction" and enter the sum obtained in Step 3 in the box labeled "Amount of pension eligible for the Federal Pension Income Subtraction." Leave the box labeled "Oregon - Amount of pension eligible for the Federal Pension Income Subtraction" blank. Do not use the Federal Pension Income Worksheet in Tax Slayer

Please report any bugs or discrepancies with current software to joe.bowman.ta@mindspring.com with as much information as possible to help resolve the issue.