This tool is freely available and is designed to help you accurately estimate your 2024 tax return. The 2025 tax rates and thresholds for both the Oregon State Tax Tables and Federal Tax Tables are comprehensively integrated into the Oregon Tax Calculator for 2025. This tool is freely available and is designed to help you accurately estimate your 2026 tax return.

• This section discusses recovery of deductions other than itemized deductions.
• You can learn more about how the Oregon income tax compares to other states’ income taxes by visiting our map of income taxes by state.
• The deduction disappears when your income reaches $175,000 if you’re single or $250,000 if you’re married filing jointly.
• If you made other errors, you may want to file an amended return.
• If the damage was due to an involuntary conversion, you may defer the tax on the gain if you purchase qualified replacement property.
• You can’t deduct expenses for providing this transportation.

Credits

The following allowances must be included in your income and reported as wages. If you’re performing the services as an agent of the order in the exercise of duties required by the order, don’t include in your income the amounts turned over to the Accounts Payable Management order. In 2021, you paid your employer $50 for a share of stock that had an FMV of $100 and was subject to forfeiture until 2024.

Oregon Single Filer Tax Tables

Like the Federal Income Tax, Oregon’s income tax allows couples filing jointly to pay a lower overall rate on their combined income with wider tax brackets for joint filers. The IRS is committed to serving taxpayers with limited-English proficiency (LEP) by offering ledger account OPI services. The OPI Service is a federally funded program and is available at Taxpayer Assistance Centers (TACs), most IRS offices, and every VITA/TCE tax return site. The OPI Service is accessible in more than 350 languages.

• Restitution payments you receive as a Holocaust victim (or the heir of a Holocaust victim) and interest earned on the payments aren’t taxable.
• Because you’re an employee of the school, you’re performing services for the school rather than as an agent of the order.
• It should show the value of cash, property, services, credits, or scrip you received from exchanges during 2024.
• Your coverage is $35,000 with employer A and $45,000 with employer B.

Property Taxes

• For those filing as married filing jointly, head of household, or qualifying surviving spouse, it applies to income over $250,000.
• If you are not doing business in Oregon and don’t have income from an Oregon source, you don’t need to file a tax return in Oregon.
• For tax years 2018 through 2025, reimbursements for certain moving expenses are no longer excluded from the gross income of nonmilitary taxpayers.
• Eighteen months later, when the value of the stock was $23 a share, you exercised the option, and 14 months after that you sold your stock for $30 a share.
• If your spouse died before October 23, 1986, and insurance proceeds paid to you because of the death of your spouse are received in installments, you can exclude up to $1,000 a year of the interest included in the installments.
• The coffee still costs the same whether you picked up $5 or not.
• One Big Beautiful Bill Act created a new $6,000 senior deduction, available only from 2025 through 2028, to seniors 65 and older during those years.

The Personal Exemption, which is supported by the Oregon income tax, is an additional deduction you can take if you (and not someone else) are primarily responsible for your own living expenses. Likewise, you can take an additional dependent exemption for each qualifying dependent (like a child or family member), who you financially support. You can use Schedule LEP (Form 1040), Request for Change in Language Preference, to oregon income tax rate state a preference to receive notices, letters, or other written communications from the IRS in an alternative language. You may not immediately receive written communications in the requested language. The IRS’s commitment to LEP taxpayers is part of a multi-year timeline that began providing translations in 2023.

• Individuals who work or reside in parts of Multnomah, Washington, and Clackamas counties are subject to the TriMet transit district tax of 0.8137% of wages.
• Your basis is equal to the option price at the time you exercised your option and acquired the stock.
• A recovery is a return of an amount you deducted or took a credit for in an earlier year.
• This is the sale or assignment of any part of the death benefit under a life insurance contract to a viatical settlement provider.
• Oregon has a graduated state individual income tax, with rates ranging from 4.75 percent to 9.9 percent.
• Payments received under FECA for personal injury or sickness, including payments to beneficiaries in case of death, aren’t taxable.

The following discussion explains how to determine the amount to include in your income from a recovery of an amount deducted in an earlier year as an itemized deduction. However, you generally don’t need to use this discussion if you file Form 1040 or 1040-SR and the recovery is for state or local income taxes paid in 2023. Instead, use the State and Local Income Tax Refund Worksheet—Schedule 1, Line 1, in the 2024 Instructions for Schedule 1 (Form 1040) for line 1 to figure the amount (if any) to include in your income. The balance ($100) of the $400 refund is for your January 2024 estimated tax payment. When you figure your deduction for state and local income taxes paid during 2024, you’ll reduce the $1,000 paid in January by $100. A recovery is a return of an amount you deducted or took a credit for in an earlier year.