150-101-007 (Rev. 01-22-20)
Line 8. Reserved.
Line 9. Total income and property taxes. Enter the total
of lines 5, 6, and 7. Don’t enter more than $10,000 ($5,000 if
married filing separately).
Line 10. Other taxes. List the type and amount of other
deductible taxes that aren’t already included on lines 5, 6,
Interest you paid
You may deduct the following interest on Schedule OR-A:
• Home mortgage interest. Interest paid on a home
mortgage that is secured by your main home or sec-
ond home, including first and second mortgages and
refinanced mortgages, including mortgage points. Don’t
include interest paid on home equity loans. See IRS
Publication 936, Home Mortgage Interest Deduction, for
debt and income limits and other information.
• Mortgage insurance premiums. UPDATE—As of
December 20, 2019, mortgage insurance premiums are
deductible as a form of interest for tax year 2018. You
may deduct premiums paid or accrued for mortgage
insurance on your main home or second home if the
amount on Form OR-40, line 7, or Form OR-40-N or OR-
40-P, line 29F isn’t more than $109,000 ($54,500 if mar-
ried filing separately). If the amount on Form OR-40,
line 7, or Form OR-40-N or OR-40-P, line 29F is more
than $100,000 ($50,000 if married filing separately), use
the “Mortgage Insurance Premiums Deduction Work-
sheet” in the instructions for federal Schedule A to
calculate your mortgage insurance premium deduction.
See IRS Publication 936 for limits and other details.
• Investment interest. This is interest paid on money
you borrowed to buy property held for investment. If
the interest is allocable to passive activities or securities
that produce income that is exempt from Oregon tax,
you’ll have an addition on your Oregon return. Unless
an exception applies, if you are deducting investment
interest, you must complete federal Form 4952, Invest-
ment Interest Expense Deduction. Keep a copy of this form
with your tax records; don’t include it with your Oregon
return. Your investment interest deduction is gener-
ally limited to the income (after other expenses) from
the investments. Investment interest expense that
exceeds the investment income may be carried for-
ward to next year. For more information, limitations,
and additional requirements, see IRS Publication 550,
Investment Income and Expenses, and the instructions for
Form 4952. See “Interest and dividends on government
bonds of other states” in Publication OR-17 for more
Lines 12 through 17
Line 12. Mortgage interest and points reported on Form
1098. Enter the home mortgage interest and points reported
to you on federal Form 1098, Mortgage Interest Statement.
Line 13. Mortgage interest not reported on Form 1098.
Enter the home mortgage interest you paid to a recipient
who didn’t provide you with a Form 1098. If the recipient
was the person from whom you bought the home, write the
person’s name, address, and Social Security number (SSN)
(if an individual) or employer identification number (EIN)
on the dotted line next to line 13.
Line 14. Points not reported on Form 1098. Points are shown
on your settlement statement. You may deduct points paid
to borrow money but not for other purposes. Points paid to
refinance a mortgage must be deducted over the life of the
loan. See IRS Publication 936 for more information.
Line 15. Enter the premiums you paid for mortgage insur-
ance provided by the federal Department of Veterans
Affairs, the Federal Housing Administration, the federal
Rural Housing Service, or private mortgage insurance.
Note: If the amount from Form OR-40, line 7, or Form OR-
40-N or OR-40-P, line 29F is more than $100,000 ($50,000 if
married filing separately), refer to the instructions for mort-
gage insurance premiums, above.
Line 16. Investment interest. Enter the interest you paid on
money you borrowed to buy property held for investment.
Use the amount you calculated using federal Form 4952, if
applicable, with the following modifications:
• Don’t include interest paid on money you borrowed to
buy U.S. bonds, notes, and other obligations if you’re
subtracting the income from such obligations on your
Oregon return. You can’t deduct this interest because
the income isn’t taxable by Oregon.
• Don’t include interest paid on money you borrowed
to buy bonds issued by the Commonwealth of Puerto
Rico or the territories of Puerto Rico, Guam, Samoa, or
the Virgin Islands. Income from these bonds isn’t tax-
able by Oregon.
• Do include interest paid on money you borrowed to
buy bonds and notes issued by another state, or politi-
cal subdivision of another state, that you didn’t include
on your federal return. The income from these bonds
and notes isn’t subject to federal tax, but it is taxable by
Oregon. You’ll have an addition for this income on your
Oregon return. See “Interest on state and local govern-
ment bonds outside of Oregon” in Publication OR-17 for
Gifts to charity
You can deduct contributions or gifts you gave to orga-
nizations that are religious, charitable, educational, sci-
entific, or literary in purpose, including organizations
that work to prevent cruelty to children or animals. If
the organization doesn’t spend at least 30 percent of its
annual functional expenses for program services, you’ll
have an addition on Schedule OR-ASC or OR-ASC-NP.
See IRS Publication 526, Charitable Contributions, for limi-
tations and other details, and the Oregon Department of
Justice website, www.doj.state.or.us for a list of organiza-
tions that don’t meet Oregon’s spending requirement. See
“Disqualified charitable donations” in Publication OR-17
for information about the addition.