2002 Instructions for Form 41, Oregon Fiduciary Income Tax Return - oregon-2025

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States that dont tax Social Security. Forty-one states plus the District of Columbia do not tax Social Security income for retirees. Kansas, Missouri and Nebraska are three of the most recent states to eliminate taxes on Social Security and others are in the process of phasing out the tax.
At present Oregon has no statewide general homestead exemption or exemptions based solely on age and/or income. Disabled or senior homeowners may qualify for Oregons tax deferral program.
In 1983, changes in federal tax law began the taxation of part of Social Security income and eliminated the disability income exclusion. Oregon has never taxed Social Security income; the state also continued the disability income exclusion for tax year 1984.
The fiduciary of a domestic decedents estate, trust, or bankruptcy estate files Form 1041 to report: The income, deductions, gains, losses, etc. of the estate or trust. The income that is either accumulated or held for future distribution or distributed currently to the beneficiaries.
Take a look at some things that might affect your tax bill. Oregon doesnt tax your Social Security benefits. Any Social Security benefits included in your federal adjusted gross income (AGI) are subtracted on your Oregon return.
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Decedents Estate. The fiduciary (or one of the fiduciaries) must file Form 541 for a decedents estate if any of the following apply: Gross income for the taxable year of more than $10,000 (regardless of the amount of net income) Net income for the taxable year of more than $1,000. An alternative minimum tax liability.
Oregon doesnt tax Social Security or Railroad Retirement Board benefits.
Proactive estate planning is essential to minimize tax burdens, protect assets, and ensure the seamless fulfillment of personal wishes and long-term goals. Oregons estate tax exemption amount of only $1,000,000 was set in 2001 and is not pegged to inflation.

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