How do I enter an Oregon Subtraction for US government interest?

[lmoynihan]

I have direct federal interest income showing on my broker statement. These amounts are included in federally taxable dividends. I think the Oregon Subtraction Code is #315.

[JamesG1]

In TurboTax Premier Desktop, I am able to report Oregon Subtraction Code 315.

Report the IRS form 1099-INT as follows:

• Down the left side of the screen, click on Federal.
• Down the left side of the screen, click on Wages & Income.
• Click the down arrow to the right of Investments and Savings.
• Click to the right of Interest on 1099-INT.

Enter the amount from Box 3 Interest on US Savings Bonds and Treasury obligations.

The interest is reported on Oregon OR-ASC Section B Subtractions.

The interest is deducted from the Oregon OR-40 income tax return.

@lmoynihan

[Edited 03/06/25 | 11:50 pm PST]