turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jdmcdoo
New Member

I moved to OR from WA in April 2020. My income is from distributions from an IRA, a Qualified Pension Plan and Social Sec. How is Ore taxable Income calculated?

Using TurboTax, my Oregon Taxable Income, Line 36, is greater than Federal Taxable income, Line 15 (Tax form1040-SR). How can this be?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
ThomasM125
Expert Alumni

I moved to OR from WA in April 2020. My income is from distributions from an IRA, a Qualified Pension Plan and Social Sec. How is Ore taxable Income calculated?

Your federal taxable income includes a standard deduction of $12,400 or $24,800 at a minimum, depending whether you are filing as single or married. The standard deduction in Oregon is only $2,315 (single) or $4,630 (married). So, it is likely that your Oregon taxable income will be more than your federal taxable income.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
ThomasM125
Expert Alumni

I moved to OR from WA in April 2020. My income is from distributions from an IRA, a Qualified Pension Plan and Social Sec. How is Ore taxable Income calculated?

Your federal taxable income includes a standard deduction of $12,400 or $24,800 at a minimum, depending whether you are filing as single or married. The standard deduction in Oregon is only $2,315 (single) or $4,630 (married). So, it is likely that your Oregon taxable income will be more than your federal taxable income.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies