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Solved

Is K-1 taxed in Oregon and Idaho

Forum|Forum|2 years ago
October 25, 2023
1 reply
15 views

We are now full time residents of Idaho and receive a K-1 from an Oregon trust just slightly over the Oregon minimum taxable amount. Do we pay taxes to both statres?

Ask the Experts - Extension - Sept 2023

Best answer by Gabriella_EA

Hello carlnbarbara!

Thanks for joining us for the event today, and for this great question!

From the situation you're describing, it does sound like you would pay tax to both states. Idaho will tax all your income (except what's specifically excluded based on Idaho law) because you're a resident there, whereas Oregon will tax the income that's Oregon source. However, you should be able to claim a credit on your Idaho tax return for the tax you paid to Oregon, so that helps to nullify the double-taxation you would otherwise have.

Employee Tax Expert

Answer

Employee Tax Expert

Hello carlnbarbara!

Thanks for joining us for the event today, and for this great question!

From the situation you're describing, it does sound like you would pay tax to both states. Idaho will tax all your income (except what's specifically excluded based on Idaho law) because you're a resident there, whereas Oregon will tax the income that's Oregon source. However, you should be able to claim a credit on your Idaho tax return for the tax you paid to Oregon, so that helps to nullify the double-taxation you would otherwise have.

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