OR-LENDER: Schedule OR-LENDER, Lender's Tax Credit (2024)
Oregon · Oregon DOR · Used for tax years 2024
Oregon’s 2024 Schedule OR-LENDER calculates the Lender’s Tax Credit for qualifying energy conservation and affordable housing loans. It reports interest or finance charge differences and the current-year credit available, and is included with an Oregon corporation or insurance ta
Who files this form
The 2024 Schedule OR-LENDER calculates the Lender’s Tax Credit for these loan categories:
- Energy conservation: Loans to residential fuel oil customers or wood heating residents made after December 31, 1981, and before January 1, 2012.
- Affordable housing: Loans to projects certified by the Oregon Housing and Community Services Department, or to households participating in a community rehabilitation program, made after December 31, 1989, and before January 1, 2032.
Include this schedule with your Oregon corporation or insurance tax return.
What you'll need
Have the following information ready to complete the schedule:
- Your corporation’s legal name as shown on your Oregon return and federal employer identification number (FEIN).
- For energy conservation loans: The interest that would have been charged using the rate for nonqualifying loans when the qualifying loan was made, any applicable Department of Energy interest-rate upper limit, and the interest allowed at 6.5 percent.
- For affordable housing loans: The current-year finance charge that would have applied to nonsubsidized loans under like terms and conditions when the loan was made, the finance charge actually charged, and the loan’s average unpaid balance during the year.
How to file
Complete the applicable credit calculation on Schedule OR-LENDER. Claim the current-year credit from line 5 on Schedule OR-ASC-CORP using credit code 848.
Include Schedule OR-LENDER with your Oregon corporation or insurance tax return. Submit the original form, not a photocopy. The form does not provide a mailing address or e-file instructions.
Common mistakes
- Submitting a photocopy: The form says to submit the original form.
- Leaving out the schedule: Include it with your Oregon corporation or insurance tax return.
- Using a different corporation name: Enter the legal name as shown on your Oregon return.
- Missing the credit claim instruction: Claim the line 5 credit on Schedule OR-ASC-CORP using credit code 848.
Questions people ask
What if the Department of Energy has not set an interest-rate upper limit?
For the energy conservation calculation, enter the amount from line 1 on line 2.
How is the energy conservation credit calculated?
Enter the lesser of lines 1 and 2 on line 3. Then subtract line 4, the interest allowed at 6.5 percent, from line 3 to calculate the current-year credit on line 5.
What counts as the finance charge actually charged for an affordable housing loan?
Line 2 includes interest on the loan, the loan fee, and interest on the loan fee.
Is there a limit on the affordable housing credit?
Yes. Line 4 is 4 percent of the loan’s average unpaid balance during the year. The current-year credit is the lesser of that limit or the difference between the finance charges on lines 1 and 2.