Or. Admin. Code § 150-316-0179

Current through Register Vol. 63, No. 10, October 1, 2024

Section 150-316-0179 - Student Loan Interest Deduction - for Part-Year and Nonresidents

Individuals who are allowed a deduction for student loan interest for federal purposes shall be allowed a deduction for Oregon purposes. The allowable Oregon deduction is limited to a percentage of the federal deduction (not to exceed 100 percent). The qualifying interest paid while a nonresident of Oregon must be prorated based on the ratio of total Oregon source income while a nonresident to total income while a nonresident, determined without deduction for student loan interest. The qualifying interest paid while a resident is deductible in full. See the example for the alimony adjustment under OAR150-316.130(2)(c)(A). The total Oregon deduction cannot exceed the amount allowed under federal law.

REV 9-1999, f. 12-30-99, cert. ef. 12-31-99; Renumbered from 150-316.127(1)(a)-(A), REV 62-2016, f. 8-15-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 316.127