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I donated $1440 and TTax is saying that I am only eligible for $135 even though our income is under $100,000. How can I see what would cause me not getting the full $360?

 
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2 Replies

I donated $1440 and TTax is saying that I am only eligible for $135 even though our income is under $100,000. How can I see what would cause me not getting the full $360?

I did some playing with numbers and if I say that I donated $7,200 (the amount needed to get the credit if we make >250k https://www.oregoncollegesavings.com/tax-benefits) then I can get the full $360 credit. I hate to enter the wrong amount for the donation just to get the (what I think) is the correct amount

RobertB4444
Expert Alumni

I donated $1440 and TTax is saying that I am only eligible for $135 even though our income is under $100,000. How can I see what would cause me not getting the full $360?

That's a weird calculation.  If your income is between 70 and 100K then you should get the lesser of 25% of your contribution or $360.  With a $1440 contribution you should get $360 either way.

 

If your income is over 100K then you would get 10% of the contribution or $360, whichever is smaller.  That should be $144, not $135.  But $135 is 25% of $540.  

 

I can't duplicate this problem.  So first you should check your Oregon AGI and make sure that there hasn't been something added back in by Oregon to put you up over 100K.  Your income being over $100,000 makes that $7200 entry that you made make the most sense.

 

Then check all of the entries that you made in this section related to your deposit.  Maybe delete the entry and go back through the questions carefully.  

 

@matthewbohn54 

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