You can make certain deductions that aren’t mentioned elsewhere on your tax return. ![]() You can’t deduct political contributions, dues paid to fraternal organizations or the value of any services or benefits you received in connection with your contributions. However, a single charitable contribution of more than $250 requires a written statement. Qualified charitable contributionsĬontributions can be in the form of cash, property, or expenses from any volunteer work. However, interest paid on home equity loans isn’t deductible. Generally, you can deduct interest paid on first and second mortgages. Generally, you’re allowed to take a deduction for real estate taxes paid up to $10,000 ($5,000 if married filing separately. You can deduct the amount of your expenses that exceeds 7.5% of your federal adjusted gross income (AGI). You may qualify itemized deductions if the total amount is greater than what you’d receive from the standard deduction for the current tax year. $1,000 for qualified widowers and married filing jointly.$1,200 for single filers and head of household.Oregon doesn’t allow those married filing separately to take the standard deduction if their spouse has chosen to itemize their deductions.Īdditionally, if you’re 65 and older or blind, you may qualify for an additional standard deduction: For the 2021 tax year, Oregon’s standard deduction allows taxpayers to reduce their taxable income by $2,350 for single filers, $4,700 for those married filing jointly, $3,780 for heads of household, and $4,700 for qualifying widowers. The state of Oregon offers a standard deduction for its taxpayers. Income Tax Deductions for Oregon Standard Deduction If your income is over $7,300, but not over $18,400, your tax is $347 + 6.5% of the excess of $7,300.If your income is over $0, but not over 7,300, your tax is 4.75% of the Oregon taxable income.If you’re married, head of household or a qualified widow(er) and a part-year or nonresident of Oregon, your tax bracket and rate will also depend on how much you make: Oregon Income Tax Brackets and Rates for Part-Year and Nonresidents: Head of Household, Married Filing Jointly or Qualified Widow(er) If your income is over $3,650, but not over $9,200, your tax is $173 + 6.5% of the excess of $3,650.If your income is over $0, but not over $3,650, your tax is 4.75% of the Oregon taxable income.If you’re a part-year or nonresident of Oregon, your tax bracket and rate will also depend on how much you make: ![]() Oregon Income Tax Brackets and Rates for Part-Year and Nonresidents: Single or Married Filing Separately Here is a list of our partners who offer products that we have affiliate links for.Ī flat rate between $0 and $3,857, depending on how much you make While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. Second, we also include links to advertisers' offers in some of our articles these “affiliate links” may generate income for our site when you click on them. ![]() This site does not include all companies or products available within the market. The compensation we receive for those placements affects how and where advertisers' offers appear on the site. First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective.
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