§ 314.300 — Passive activity loss; determination; treatment; rules

Oregon § 314.300

• Jurisdiction: Oregon
• Vol.: 8
• Title 29: Revenue and Taxation
• Ch. 314: Taxes Imposed Upon or Measured by Net Income

Text

For purposes of applying section 469 of the Internal Revenue Code to the laws of this state imposing taxes upon or measured by income:
(1) Passive activity loss shall be determined with respect to the activities of the taxpayer under section 469 of the Internal Revenue Code and related federal law and then shall be adjusted by the additions, subtractions, modifications and other adjustments as allocated to passive activity loss under subsection (2) of this section.
(2) Those additions, subtractions, modifications and other adjustments required to be made to federal taxable income under this chapter or ORS chapters 316, 317 and 318, or other law governing the imposition of state taxes imposed upon or measured by income, shall be allocated to passive activity loss as provided by rule of the Department of Revenue.
(3) Passive activity loss, as determined under subsections (1) and (2) of this section, shall not be allowed for the taxable year of the taxpayer. Passive activity loss shall be treated as a deduction allocable to passive activity in the next succeeding year, and except as otherwise adjusted under subsection (1) of this section, shall be treated in the same manner as passive activity loss is treated under section 469 of the Internal Revenue Code, and related sections.
(4) For state personal income tax purposes, in the case of a nonresident, passive activity loss attributable to Oregon sources shall be treated in the same manner as described under subsections (1) to (3) of this section.

Legislative History

1987 c.293 §64; 1995 c.556 §23