Yes, you are correct. There is a deduction available on your OR state return for your contribution to an Individual Development Account (IDA).
In the OR state interview, on the page titled "Here's income that OR handles differently"
- Scroll down to "Misc Adjustments"
- "Start/revisit "Other Subtractions"
- Select "Yes" since you have "other deductions not listed"
- At the bottom of the next page "Check" the box for "subtractions not listed"
- "Continue"
- That will bring up the OR ASC Form
- "Scroll" about halfway down the form and find line 314 for the IDA contribution.
- Put the amount you contributed in the box in the second column
- Select "Continue"
NOTE: The credit for an IDA "Donation" is for those who are donating matching funds to the program.
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