OAR 150-315-0065
Higher Education Savings (529) and Achieving A Better Life Experience (ABLE) account credit recapture

(1) If an unqualified withdrawal under ORS 315.653 (Forfeiture of prior tax relief)(1) is made from a 529 or ABLE account, the taxpayer who received tax benefit of the contribution must forfeit that benefit.
(2) To determine whether a forfeiture is necessary, the amount of non-benefit contribution must be determined. The amount of non-benefit contribution is the total of:
(a) Deposits into a 529 or ABLE account for which no corresponding tax benefit was received and;
(b) Any interest earned in a 529 or ABLE account.
(3) The amount of unqualified withdrawal in excess of the non-benefit contribution calculated in section (2) is subject to recapture.
(4) The amount of the recapture is based on the tax benefit received on the most recent contribution and must be reported in the tax year in which the withdrawal took place.
[ED. NOTE: To view attachments referenced in rule text, click here to view rule.]

Source: Rule 150-315-0065 — Higher Education Savings (529) and Achieving A Better Life Experience (ABLE) account credit recapture, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=150-315-0065.

150‑315‑0005
Tax credit uniformity transfer provisions 150‑315‑0010
Claim of Right Credit 150‑315‑0012
Qualified Reforestation Costs 150‑315‑0014
Procedure for Claiming the Reforestation Credit 150‑315‑0016
Change of Ownership 150‑315‑0018
Reforestation Credit: Reasons Beyond the Taxpayer’s Control 150‑315‑0040
Fish Screening Device Credit 150‑315‑0050
Transfer of Biomass Credit 150‑315‑0060
Crop Gleaning Credit: Information Required 150‑315‑0065
Higher Education Savings (529) and Achieving A Better Life Experience (ABLE) account credit recapture 150‑315‑0070
Agriculture Workforce Housing Credit 150‑315‑0100
Child Care Division Contribution Credit 150‑315‑0110
Scholarship Tax Credit 150‑315‑0121
Working Family Household and Dependent Care Credit 150‑315‑0125
Working Family Household and Dependent Care Penalty 150‑315‑0140
Pollution Control Facilities: Types of Facilities Eligible for Certification 150‑315‑0142
Pollution Control Facilities: Information to be Furnished Upon Request 150‑315‑0144
Pollution Control Facilities: Computation of Credit 150‑315‑0146
Pollution Control Facilities: To Whom Is Credit Allowable 150‑315‑0148
Pollution Control Facilities: Years in Which Credit May Be Claimed 150‑315‑0150
Pollution Control Facilities: Transfer of Facilities 150‑315‑0152
Pollution Control Facilities: Tax Credit Carry Forward 150‑315‑0154
Pollution Control Facilities: Adjustment of Basis 150‑315‑0170
Business Energy Tax Credit: Transfer of Facilities 150‑315‑0180
Oregon Tax Credit Auctions
Last Updated

Jun. 8, 2021

Rule 150-315-0065’s source at or​.us