Question

Oregon Additions/Subtractions to Federal Income (Property Sale Gain or Loss Difference)

Forum|Forum|3 years ago
April 6, 2023
1 reply
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If I am a CA resident but sold a vacant parcel in OR, what needs to be populated where it says "Property Sale Gain or Loss Difference" under "Other Additions" and/or "Other Subtractions"? Let's say the purchase price was $50,000 and the sale price was $100,000 and the costs directly related to the sale were $15,000 so the net gain was $35,000.

Thank you!

TurboTax Deluxe Online

AmyC

Employee

You would have entered the sale in the federal section. The $35,000 gain should be showing as income along with your other income in the OR program. You enter the amount of the gain, $35,000 as OR income. There is no need for additions or subtractions.

OR will tax your vacant land at the normal income tax rate.

The exception is farming and can be seen here.