Software error for Oregon ABLE Savings Credit

Forum|Forum|5 years ago
January 16, 2021
2 replies
14 views

For 2020, Oregon offers a credit for contributions to an Oregon ABLE Savings account. The credit is graduated based on AGI and total 2020 contributions, up to a $150 maximum credit for a single filer (https://www.oregonablesavings.com/faqs/2020/1/23/what-is-the-oregon-income-tax-credit).

Based on my AGI and total 2020 contributions, I should be receiving a credit that is far less than the $150 maximum. The TurboTax software is giving me the full $150 credit. I've tried entering a variety of 2020 contribution amounts, just to see what would happen, and the software consistently gives me the full $150 credit no matter what is entered. How do I fix/work around this error?

TurboTax Free Edition Online

BrandiLO

Level 14

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Fleming12_2

Level 2

I'm getting a similar error. When I just put in an ABLE contribution, I get the full credit (which I don't qualify for). When I add in a 529 plan contribution for another child, it calculates the 529 correctly AND fixes the ABLE error.