Oregon College Savings Plan

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Still time to take a 2017 state tax deduction; 2018 deduction amounts announced

Jan 02, 2018

For contributions into your Oregon College Savings Plan account, Oregon offers a 2017 state income tax deduction of up to $4,660 for taxpayers filing jointly and $2,330 for other filers. Limitations may apply.

As an Oregon taxpayer, you are eligible for the 2017 tax deduction as long as your contribution is made prior to filing your 2017 state tax return or April 15, 2018, whichever comes first. If you have already taken your 2017 tax deduction, the 2018 deduction amounts for your planning purposes are $4,750 for taxpayers filing jointly and $2,375 for other filers.

For your convenience, below are the Oregon state tax deduction amounts from previous years:

  • 2016: $4,620 for taxpayers filing jointly and $2,310 for single filers
  • 2015: $4,600 for taxpayers filing jointly and $2,300 for single filers

As a reminder, the Oregon College Savings Plan does not report your account contributions to the IRS or Oregon Department of Revenue. Annual state income tax deductions may be claimed on your Oregon State Tax Return. For more information, please contact the Oregon Department of Revenue at Oregon.gov/dor.

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