OR-FCG-20: Schedule OR-FCG-20, Farm Liquidation Long-term Capital Gain Tax Adjustment (2025)
Oregon · Oregon DOR · Used for tax years 2025
Schedule OR-FCG-20 calculates Oregon’s farm liquidation long-term capital gain tax adjustment from the sale of qualified farm assets. It calculates qualified farm gain and the adjustment to enter on Form OR-20 or Form OR-20-S.
Who files this form
Schedule OR-FCG-20 calculates the farm liquidation long-term capital gain tax adjustment for taxpayers filing Form OR-20 or Form OR-20-S.
The schedule says to include it with your corporation tax return and mark the “OR-FCG-20” box on the front of that return. If your Oregon taxable income on Form OR-20, line 9, or Form OR-20-S, line 7, is zero or less, do not continue with the calculation.
The supplied form does not explain the full eligibility requirements for qualified farm assets.
What you'll need
Have these forms and details available to complete the schedule:
- Your taxpayer legal name, as shown on your Oregon return, and federal employer identification number (FEIN).
- Form OR-20 or Form OR-20-S for your Oregon taxable income.
- Federal Form 1120 or 1120-S, Schedule D, line 15, for business net long-term capital gain and the farm portion of that gain.
- If your Oregon income is apportioned, Schedule OR-AP, part 1, line 23, for the Oregon apportionment percentage.
- If applicable, Schedule OR-AP, part 2, line 7, for non-business net long-term capital gain and its farm portion.
- Amounts of any net long-term capital gains from non-unitary affiliates included in the federal consolidated return, including the farm portion, to make the reductions required by the schedule.
How to file
- Submit the original Schedule OR-FCG-20, not a photocopy.
- Mark the “OR-FCG-20” box on the front of your corporation tax return.
- Include the schedule with your return.
- If line 7 of the tax adjustment calculation is less than line 8, subtract line 7 from line 8. Enter the adjustment on Form OR-20, line 11, or Form OR-20-S, line 9.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Submitting a photocopy. The form requires the original.
- Continuing when Oregon taxable income is zero or less. The form says to stop at line 1 of the tax adjustment calculation.
- Continuing when line 7 is greater than line 8. The form says not to continue in this situation.
- Forgetting the return checkbox or attachment. Mark the “OR-FCG-20” box on the front of your corporation tax return and include the schedule.
Questions people ask
What does NLTCG mean?
NLTCG means net long-term capital gain.
What percentage do I use if all my business is done in Oregon?
Enter 100 percent on lines 2 and 7 of the qualified farm gain calculation. If Oregon income is apportioned, use the Oregon apportionment percentage from Schedule OR-AP, part 1, line 23, rounded to four decimal places.
Which farm gain amount goes into the tax adjustment calculation?
Line 11 of the qualified farm gain calculation is the lesser of total Oregon NLTCG on line 5 or total Oregon farm NLTCG on line 10. Carry line 11 to line 2 of the tax adjustment calculation.
How is the 5 percent amount calculated?
On line 5 of the tax adjustment calculation, enter the smaller of Oregon taxable income on line 1 or farm NLTCG on line 2. Multiply that amount by 5 percent (0.05) and enter the result on line 6.