2025 Schedule OR-ASC code 897 credit

[17723267060]

Credit amount on 2025 Schedule OR-ASC for code 897 is wrong amount. It shows the maximum $360 allowed, not the percentage I am allowed based on my AGI. I need Turbo Tax to recalculate and fill in correct amount. I think this is a software issue Turbo Tax needs to correct.

[AmyC]

The credit percentage is applied and compared to the $360. From the OR-17: Example: Jesse and Stacey make a $4,000 contribution to an ABLE account they opened for their daughter, who has a disability. Their AGI is $150,000. Their percentage from Table 14 is 10 percent. They may claim the lesser of 10 percent of their contribution ($4,000 x 0.10 = $400) or $360. Their credit is $360.

I created a return, 50% credit level income, $5k contribution and received the full $360 credit correctly. $5,000 contribution x 50% is $2500. The lesser of $2500 or $360 is $360 for the credit.

Page 119 of the OR -17 has more information. 

[17723267060]

For my Oregon return, my AGI is at the 10% credit level.  I entered an ABLE contribution amount of $600.  My credit should be only $60, but Turbo Tax has entered $360 as the credit amount on my return.    

[17723267060]

Please run your test as if the $150k AGI couple only made a $600 contribution to an Oregon ABLE account.  Based on their AGI and 10% credit limit, the credit should be only $60.   This is similar to my situation, but Turbo Tax enters the maximum $360 credit on my return, not a $60 credit, and I can't file my return with the wrong credit amount.  

[67488 · Accepted solution]

I too am having the same problem.  I went to where Turbo Tax is asking for the amount of the contribution to the ABLE account and entered the amount that the credit should be for and then the credit on the Oregon Tax Return was for the correct amount.  Wish we could get the software fixed.  Best of luck.

[17723267060]

Thanks so much for the tip.  I thought about trying that, but was hoping the software would be fixed by now.  But I like your approach, since that will allow me to file an accurate return.  I'll go ahead and do that.  I've been a many year turbo tax customer, but am thinking will look for another option next year.  Thanks again!!!