Oregon SB 301 How come when taxpayer is taking an education credit on the 8863, then why isn't Lacerte subtracting the tuition amount on Oregon with a code 308 like last year?
I put a 1 in screen 3 for the SB 301 and it just takes the addition off of Oregon. It isn't putting the tuition amount as a subtraction on line line 18 with code 308.
Am I missing something here?
Click here and check your updates.
Believe me, I do check for updates daily with Lacerte (there are always things that need to be fixed by Lacerte). So I do have the latest update. However, Lacerte still isn't giving the taxpayer the tuition subtraction (code 308 on line 18 of OR 40) when the taxpayer takes the credit instead of the tuition & fees deduction like last year.
I've been on hold with the state of Oregon for about an hour trying to get to the bottom of this one. The instructions SAY $4000!!! I got the same answer the Lacerte staff as you have described.
Have you found out anything further? Please share!
Lacerte is doing it now ONLY IF you put the 1 in comply with the Senate Bill 301 in screen 3. Taxpayer may qualify for the education credit on Federal but may NOT get the tuition subtraction on OREGON IF their MAGI is more than $160,000 MFJ or $80,000 Single. This is found in Pub 17 1/2 page 64.
Lacerte is updated for Oregon SB 301.
But you must...
In DETAILS, go to
3 MISCELLANEOUS INFORMATION/DIRECT DEPOSIT
go down to
OREGON Senate Bill 301 and put 1 in box.
Must do for all clients.
Caution, the last time that I checked, Transit Tax (Tri-Met or Lane) was Not correct.
You must override transit tax income to equal Federal form SE line3.
Not sure if you figured this out yet.....but try forcing the tuition deduction instead of taking the credit, just to see if they are eligible for the deduction. If for some reason they are not elegible for the tuition deduciton (income too high), they will not get the deduciton on Oregon.
