OAR 150-316-0420
Taxable Income of Nonresident Estate or Trust
# (1)
(1) The determination of the taxable income of a nonresident estate or trust differs from that of a nonresident individual in that there is no provision for proration of items of income, deductions or exemptions. Taxable income must be determined by first recomputing the fiduciary's net taxable income under the Internal Revenue Code using only those items of income, gain, loss and deductions derived from or connected with sources in Oregon, including the full amount of the personal exemption allowable in determining federal taxable income. This computation may be made on a federal Form 1041 and accompanying schedules if they are clearly marked as state schedules. Regardless of the form of the computation, a copy of the federal Form 1041, and all accompanying schedules, as filed with the Internal Revenue Service must be attached to the Oregon Fiduciary Form 41.
# (2)
(2) To arrive at the fiduciary's Oregon taxable income, the recomputed federal net taxable income, limited to items derived from or connected with sources in Oregon, is increased or decreased by the "fiduciary adjustment" provided in ORS 316.287 and the transitional adjustment, if any, provided for in ORS 316.047. The "fiduciary adjustment" is computed in the same manner as that used for resident estates or trusts except that only items of income, gain, loss and deductions that are derived from or connected with sources in Oregon and a portion of any accrued federal income tax liability or refund are included in the computation. The amount of each federal income tax item of the fiduciary adjustment is computed by multiplying the accrued liability or refund by the percentage that the recomputed federal net income from Oregon sources bears to the federal net taxable income from all sources. Both factors in this computation must include only those items taken into account in determining net taxable income of the tax year to which the liability or refund applies.
Amendment history
Renumbered from 150-316.307, REV 65-2016, f. 8-15-16, cert. ef. 9-1-16
Source: view the official text
In this chapter (40 sections)
- 150-316-0330 · Semiannual Reports and Payments
- 150-316-0332 · Withholding: Payment Due Dates
- 150-316-0334 · Withholding Tax Payment Requirements for Agricultural…
- 150-316-0336 · Employee’s Rights
- 150-316-0345 · Requirement to use Electronic Funds Transfer
- 150-316-0347 · Electronic Funds Transfer. Payroll taxes and corporation…
- 150-316-0355 · Withholding: Payment and Reports
- 150-316-0357 · Waiver of Termination Reports
- 150-316-0359 · Withholding: Annual Report by Employer
- 150-316-0361 · Combined Reports and Statewide Transit Tax Reports:…
- 150-316-0370 · Liability for Unpaid Withholdings
- 150-316-0372 · Officer Liability: Joint Determination of Liability…
- 150-316-0380 · Withholding Penalties
- 150-316-0385 · Nonresident Alternate Filing
- 150-316-0390 · Deductions Allowed on Either the Inheritance Tax Return…
- 150-316-0395 · Tax Treatment of Unincorporated Organization
- 150-316-0400 · Resident and Nonresident Estates and Trusts
- 150-316-0402 · Oregon Qualified Trust Tax Return
- 150-316-0410 · Fiduciary Adjustment
- 150-316-0415 · Accumulation Distribution Credit for Oregon Taxes Paid…
- 150-316-0420 · Taxable Income of Nonresident Estate or Trust
- 150-316-0425 · Oregon Multiple Funeral Trust Tax Return
- 150-316-0427 · Persons Required to Make Returns
- 150-316-0435 · Petitioning Department to Equally Split Joint Liability
- 150-316-0440 · Innocent Spouse, Separation of Liability, and Equitable…
- 150-316-0445 · Liability of Fiduciaries
- 150-316-0450 · Decedent’s Estate: Request for a Final Tax Determination
- 150-316-0452 · Decedents’ Estate: Application for Discharge from…
- 150-316-0465 · Estimated Tax
- 150-316-0470 · Allocation of Joint Estimated Tax Payments
- 150-316-0475 · Estimated Tax: Farmer’s and Fisher’s
- 150-316-0480 · Estimated Tax: Application of Prior Year Overpayment…
- 150-316-0485 · Tax Used to Compute Underpayment of Estimated Tax
- 150-316-0487 · Estimated Tax: Underpayment Interest Not Imposed if…
- 150-316-0489 · Estimated Tax: Underpayment Interest Not Imposed If…
- 150-316-0491 · Estimated Tax: Partnership and S Corporation Income of…
- 150-316-0493 · Required Installments for Estimated Tax
- 150-316-0495 · Estimated Tax: Joint Return to Single or Separate Return
- 150-316-0497 · Estimated Tax: Single or Separate Returns to Joint Return
- 150-316-0505 · Oregon Lottery Winnings and Losses