Question

Question regarding Oregon nonresident form 40N, line 17. Doesn't correlate with fed Sch E, line 5. Is this a software issue?

Forum|Forum|6 years ago
March 9, 2020
2 replies
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In column f, line 17 shows $43.00; however, the instructions for the line refers to my federal Schedule E, line 5. Looking at my schedule E, line 5 -- it is blank. (Line 5 is for listing advertising expenses.) The only line on the Schedule E, that has a total of $43.00 is line 26.

TurboTax Online

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BillM223

This appears to be a misprint on the Oregon form itself (TurboTax has copied exactly what the state form says - see it on the Oregon website).

The Oregon instructions state for line 17:

"Schedule E income. Determine the income received and losses incurred from rents, royalties, partnerships, S corporations, real estate investment trusts (REITs), estates, trusts, etc. reported on federal Schedule E from Oregon sources during the part of the year you were a nonresident. Add the amount received or incurred during the part of the year you were an Oregon resident."

This is clearly line 26 on Schedule E.

So the calculation is correct, it's just the form that's wrong - and as I noted, the original state of Oregon proof form is also wrong.

You can go ahead and file your return.

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bowmanbobgAuthor

Thanks, I printed out a hard copy the following day and discovered I had misread the instructions. I have two rental properties in two states. Looking at the Sch E worksheets, the line 5 number is for my California rental -- I'm making the assumption that the $43 is California income since it is not reflected on Oregon worksheet. Thank you for being so prompt.

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BillM223

I am glad to hear that it was an error that was no error. Next time, I'll look more closely...

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BillM223

@bowmanbobg

It was just pointed out to me that both of us misread the forms. Line 17 actually says "Schedule E income or loss from federal Schedule 1, line 5...........", not line 5 of Schedule E.

Line 5 of Schedule 1 is "Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E . . ." which is the correct amount.

Sorry for the confusion.

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