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5            2023 Schedule OR-FIA-40                                                                                                                                      Office use only   5
6            Page 1 of 2, 150-101-160                   Oregon Department of Revenue 01432301010000                                                                                         6
7            (Rev. 08-29-23, ver. 01)                                                                                                                                                       7
8            Oregon Farm Income Averaging for Full-year Residents                                                                                                                           8
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12          First name                Initial Last name                                                                                            Social Security number (SSN)             12
13           XXXXXXXXXXXX X XXXXXXXXXXXXXXXXXXXX                                                                                                   999-99-9999– –                           13
14          Spouse first name         Initial Spouse last name                                                                                     Spouse SSN                               14
15           XXXXXXXXXXXX X XXXXXXXXXXXXXXXXXXXX                                                                                                   999-99-9999– –                           15
16                                                                                                                                                                                          16
17             Tax on 2023 income without elected farm income                                                                                                                               17
18           1. Enter your 2023 taxable income from Form OR-40, line 19 ................................................................... 1.                            999,999,999.00.00 18
19           2. Enter your 2023 elected farm income. Don’t enter more than the amount on line 1 (see instructions) ... 2.                                                 999,999,999.00.00 19
20           3. Line 1 minus line 2 .................................................................................................................................. 3. 999,999,999.00.00 20
21           4.  Recomputed tax. Figure the tax on the amount on line 3 using the 2023 tax tables or rate charts ..... 4.                                                 999,999,999.00.00 21
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23           Tax on base year income                                                                                                                                                        23
24           For this section, if you used FIA to figure your tax for any base year, or if you filed a nonresident or part-year                                                             24
25           resident return for any base year, see the instructions. Otherwise, enter the amounts for each base year as directed.                                                          25
26                                                                                                                                                                                          26
27           Base year 2020                                                                                                                                                                 27
28           5. Enter the taxable income shown on your 2020 Form OR-40, line 19                                                                                                             28
29               (if $0 or less, see instructions).............................................................................................5.  999,999,999.00.00                        29
30           6. Line 2 divided by three ........................................................................................................6. 999,999,999.00.00                        30
31           7. Add lines 5 and 6. If $0 or less, enter $0 ............................................................................7.          999,999,999.00.00                        31
32           8. Figure the tax on the amount on line 7 using the 2020 tax tables or rate charts,                                                                                            32
33               or enter the recomputed 2020 tax from Schedule OR-FIA-COMP, if applicable .................................... 8.                                        999,999,999.00.00 33
34                                                                                                                                                                                          34
35           Base year 2021                                                                                                                                                                 35
36           9. Enter the taxable income shown on your 2021 Form OR-40, line 19                                                                                                             36
37               (if $0 or less, see instructions).............................................................................................9.  999,999,999.00.00                        37
38           10. Enter the amount from line 6, above .................................................................................10.          999,999,999.00.00                        38
39           11. Add  lines 9 and 10. If $0 or less, enter $0 .......................................................................11.           999,999,999.00.00                        39
40           12. Figure the tax on the amount on line 11 using the 2021 tax tables or rate charts, or                                                                                       40
41               enter the recomputed 2021 tax from Schedule OR-FIA-COMP, if applicable ...................................... 12.                                        999,999,999.00.00 41
42                                                                                                                                                                                          42
43           Base year 2022                                                                                                                                                                 43
44           13. Enter the taxable income shown on your 2022 Form OR-40, line 19                                                                                                            44
45               (if $0 or less, see instructions)...........................................................................................13.   999,999,999.00.00                        45
46           14. Enter the amount from line 6, above .................................................................................14.          999,999,999.00.00                        46
47           15. Add lines 13 and 14. If $0 or less, enter $0 ......................................................................15.            999,999,999.00.00                        47
48           16. Figure the tax on the amount on line 15 using the 2022 tax tables or rate charts,                                                                                          48
49               or enter the recomputed 2022 tax from Schedule OR-FIA-COMP, if applicable .................................. 16.                                         999,999,999.00.00 49
50           17. Add lines 4, 8, 12, and 16 ..................................................................................................................... 17.     999,999,999.00.00 50
51                                                                                                                                                                                          51
52           Computation of 2023 tax                                                                                                                                                        52
53           For this section, if you used FIA to figure your tax for any base year, see the instructions for the amounts to enter                                                          53
54           on lines 18, 19, and 20. Otherwise, enter the tax amounts for each base year as directed.                                                                                      54
55                                                                                                                                                                                          55
56           18. 2020 tax:                                                                                                                                                                  56
57               Enter the tax shown on your 2020 Form OR-40, line 20; OR-40-N,                                                                                                             57
58               line 46; or OR-40-P, line 45 ...............................................................................................18.   999,999,999.00.00                        58
59           19. 2021 tax:                                                                                                                                                                  59
60               Enter the tax shown on your 2021 Form OR-40, line 20; OR-40-N,                                                                                                             60
61               line 46; or OR-40-P , line 45 ...............................................................................................19.  999,999,999.00.00                        61
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             2023 Schedule OR-FIA-40
72           Page 2 of 2, 150-101-160         Oregon Department of Revenue      01432301020000                                                                                          72
73           (Rev. 08-29-23, ver. 01)                                                                                                                                                   73
74                                                                                                                                                                                      74
75           Computation of 2023 tax (continued)                                                                                                                                        75
76           20. 2022 tax:                                                                                                                                                              76
77               Enter the tax shown on your 2022 Form OR-40, line 20; OR-40-N,                                                                                                         77
78               line 46; or OR-40-P, line 45 ...............................................................................................20. 999,999,999.00.00                      78
79                                                                                                                                                                                      79
80           21. Add lines 18, 19, and 20 ....................................................................................................................... 21. 999,999,999.00.00 80
81           22. Tax using FIA. Line 17 minus line 21 ................................................................................................... 22.         999,999,999.00.00 81
82           23. Tax without using FIA. Using the 2023 tax tables or rate charts, figure the                                                                                            82
83               tax on the amount on line 19 of your full-year return. Enter the result here ......................................... 23.                           999,999,999.00.00 83
84           24. Is line 22 less than line 23? If yes: Enter the amount from line 22 here and on                                                                                        84
85               Form OR-40, line 20, and check box 20a. If no: FIA doesn’t reduce your                                                                                                 85
86               Oregon tax. Complete your return without using FIA ........................................................................... 24.                   999,999,999.00.00 86
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89                         —Don’t     include this schedule with your Oregon return. Keep it with your records.—                                                                        89
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