[Revenews] TriMet and Lane Transit Districts adopt federal deduction for self-employed health insurance.

[RATHS Penny S]

Beginning tax year 2010, the IRS made changes to the Federal Schedule SE to allow a deduction from your net self-employed earnings for the self-employed health insurance you paid. The TriMet Transit District and the Lane Transit District have adopted this modification to your self-employed earnings.

You will continue to use the amount on line 3 from your Federal Schedule SE in calculating both your TriMet Self-employed Transit Tax (Form TM) and your Lane Self-employed Transit Tax (Form LTD).

Note:  If your self-employed earnings after the deduction are $400 or less, you do not need to file a Transit Self-employed tax return.

If you have questions please email us at:  TSE.Help.DOR at state.or.us<mailto:TSE.Help.DOR at state.or.us>


-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listsmart.osl.state.or.us/pipermail/revenews/attachments/20110310/e10fa709/attachment.html>