Oregon Tax Consultants Practice Exam 2025 – Complete Study Resource

Question: 1 / 400

Which of the following types of income is typically taxable in Oregon?

Charitable donations.

Interest earned from savings accounts.

Interest earned from savings accounts is considered taxable income in Oregon, as it is part of the individual's gross income. In Oregon, interest income is generally treated the same as wages or salary and is subject to the state's income tax laws. Taxpayers are required to report this interest on their tax returns, and it is taxed at the state income tax rates applicable to their tax bracket.

Charitable donations are not considered income; instead, they may be deductible expenses for those who itemize their deductions. Gift income, up to $15,000, falls under the federal gift tax exclusion where gifts are not subject to income tax for the recipient. Inheritance received from family is also generally exempt from income taxation in Oregon because it is considered a transfer of wealth rather than income earned. Thus, interest from savings accounts stands out as the income type that is specifically taxable in Oregon.

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Gift income up to $15,000.

Inheritance received from family.

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