Publication or 40 fy for year 2016-2026

1. Click ‘Get Form’ to open the OR-40-FY in the editor.
2. Begin by filling out your federal adjusted gross income on line 7, using your federal Form 1040 as a reference.
3. Complete the exemptions section (lines 6a to 6e) by entering your personal information and dependents. If you have more than four dependents, use Schedule OR-ADD-DEP.
4. Proceed to the additions and subtractions sections (lines 8 to 15). Use Schedule OR-ASC for any adjustments that apply, ensuring you enter totals correctly.
5. Calculate your Oregon taxable income on line 21 by subtracting deductions from your income after adjustments.
6. Determine your tax liability using the tax tables provided in the instructions and enter it on line 22.
7. Finally, review all entries for accuracy before submitting. Ensure you include any required schedules and forms as indicated.

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