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Components of Personal Income Tax 1995
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Article Content
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EXEMPT INCOME
Nontaxable Social Security and Railroad Retirement • Insurance Proceeds • Gifts and Bequests • Welfare Payments • IRA and Keogh Interest Earnings • Interest on Government Obligations • Scholarships (used for tuition)
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GROSS INCOME
Salaries and Wages • Interest • Dividends • State Income Tax Refunds • Alimony Received
• Business • Farm • Capital and Other Gain or Loss • Rents • Royalties • Partnership Income or Loss • Estates and Trusts • Subchapter S Distributions • Unemployment Compensation • Taxable Social Security Annuities and Retirement Plan Distributions • Other Income
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ADJUSTMENTS TO INCOME
IRA, Keogh, and SEP Contributions • Self-Employed Health Insurance Deduction • Forfeited Interest • Moving Expenses • Alimony Paid • One-half of Self-Employment tax
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FEDERAL ADJUSTED GROSS INCOME
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FEDERAL INCOME EXEMPT FROM STATE TAX
Oregon Income Tax Refunds • Social Security Benefits • Federal Income Tax
• U.S. Bond Interest • Other Subtractions
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STATE INCOME EXEMPT FROM FEDERAL TAX
Interest on State and Municipal Bonds of Other States • Federal Election on Interest and Dividends of a Minor Child • Other Additions
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DEDUCTIONS
Oregon Standard Deduction or Federal Itemized Deductions minus State Income Taxes Itemized plus Special Medical Deductions
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INTEREST ON CERTAIN INSTALLMENT SALES
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TAX CREDITS
Exemption • Child and Dependent Care • Political Contribution • Elderly or Permanently Disabled • Credit for Income Tax Paid to Other States • Retirement Income• Other Credits
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