Oregon Individual Development Account Initiative

One thought on “Oregon Individual Development Account Initiative”

  1. Glad you found the information useful. On the issue of whether the donation also qualifies for a federal tax deduction, that is the case. I grabbed this little bit of text from the information letter the Oregon Department of Revenue published.

    The contributor’s full contribution may also be deductible on their Federal tax return as an itemized charitable deduction. The contributor may not claim both the tax credit and a charitable deduction on their Oregon return for the same contribution. If the contributor deducts the contribution on their federal return, they must add to their federal taxable income on their Oregon return the amount of contribution on which the Oregon credit is based. The amount on which a credit is based is the allowed credit divided by 75%.

    This is an awesome program, and I’d love to see the model implemented in other states!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s