Current through Register Vol. 61, No. 4, April 1, 2022
This rule applies to estates of decedents who die on or after
January 1, 2012.
(1) An estate may
claim deductions allowable under sections 2053 or 2054 of the Internal Revenue
Code (IRC) for either estate tax purposes or fiduciary income tax purposes, but
not both. The executor of an estate may make different elections for federal
and Oregon purposes.
deductions are claimed against fiduciary income, the executor must include with
the return a statement that the deductions are not being claimed for estate tax
Example 1: The executor of Estate A
elects to deduct $19,500 of expenses in determining the estate's federal income
tax. For Oregon, the executor elects to claim the deduction in determining
estate tax. The amount deducted for federal purposes is not allowed for Oregon
fiduciary income tax purposes.
2: The executor of Estate B elects to deduct $10,000 of expenses
in determining the estate's federal income tax. The executor elects to claim
these deductions in determining Oregon's fiduciary income tax. No modification
to income is required for Oregon. A deduction may not be made on the Oregon
estate tax return.
Example 3: The
executor of Estate C elects to claim a deduction of $15,000 for federal estate
tax purposes. For Oregon, the executor elects to claim the deduction for
fiduciary income tax purposes. The deduction may not also be made on the Oregon
estate tax return if the election is made by deducting the $15,000 on the
Oregon fiduciary income tax return.
Admin. R. 150-118-0020
f. 7-20-12, cert. ef. 8-1-12; REV 8-2013, f. & cert. ef. 12-26-13;
Renumbered from 150-118.010,
9-2016, f. 8-10-16, cert. ef.
Stat. Auth.: ORS
Stats. Implemented: ORS
118.010 - 118.300 &