OR-ASC: Schedule OR-ASC, Oregon Adjustments for Form OR-40 Filers (2024)
Oregon · Oregon DOR · Used for tax years 2024
2024 Schedule OR-ASC reports Oregon adjustments for Form OR-40 filers. It covers additions, subtractions, tax recaptures, standard credits, carryforward credits, and refundable credits that aren’t included on Form OR-40.
Who files this form
Use 2024 Schedule OR-ASC if you file Form OR-40 and need to report additions, subtractions, tax recaptures, standard credits, carryforward credits, or refundable credits that aren’t included on Form OR-40.
Include this schedule when you file Form OR-40. If your claims won’t fit on one schedule, file an additional Schedule OR-ASC.
What you'll need
You’ll need Form OR-40 and the information requested on Schedule OR-ASC:
- Your last name and Social Security number.
- The codes and amounts for the adjustments or credits you report.
- The state abbreviation if you claim standard credit code 802 or 815.
- For carryforward credits, the amount from the prior year, the amount awarded this year, and the total used this year.
For more information, the form points to the Schedule OR-ASC and OR-ASC-NP Instructions, Publication OR-CODES, and Publication OR-17.
How to file
Include Schedule OR-ASC with your 2024 Form OR-40. The supplied form does not give a mailing address or e-filing instructions.
Complete the applicable sections and transfer the totals to Form OR-40:
- Section A, additions: line A5 goes to Form OR-40, line 8.
- Section B, subtractions: line B7 goes to line 13.
- Section C, tax recaptures: line C5 goes to line 22.
- Section D, standard credits: line D16 goes to line 27.
- Section E, carryforward credits used this year: line E9 goes to line 30.
- Section F, refundable credits: line F7 goes to line 39.
File an additional Schedule OR-ASC if you need more space for your claims.
Common mistakes
Follow the form’s printed reminders:
- Use UPPERCASE letters and blue or black ink.
- Print at actual size, 100%.
- Don’t submit photocopies or use staples.
- Don’t leave out the state abbreviation when claiming code 802 or 815.
- Include Schedule OR-ASC with your Oregon income tax return.
Questions people ask
What does Schedule OR-ASC report?
It reports additions, subtractions, tax recaptures, standard credits, carryforward credits, and refundable credits that aren’t included on Form OR-40.
What if my claims don’t fit on one schedule?
File an additional Schedule OR-ASC.
Which amount do I transfer for carryforward credits?
Add lines E4 and E8, the amounts used this year. Enter the total on line E9 and on Form OR-40, line 30.
When do I need to enter a state abbreviation?
Enter a state abbreviation in Section D if you claim standard credit code 802 or 815.
Where can I find more information?
The form directs you to the Schedule OR-ASC and OR-ASC-NP Instructions, Publication OR-CODES, or Publication OR-17.