Form 150-104-004 Schedule OR-OSMP "Oregon Special Marital Property" - Oregon

What Is Form 150-104-004 Schedule OR-OSMP?

This is a legal form that was released by the Oregon Department of Revenue - a government authority operating within Oregon. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on July 1, 2018;
  • The latest edition provided by the Oregon Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;

Download a fillable version of Form 150-104-004 Schedule OR-OSMP by clicking the link below or browse more documents and templates provided by the Oregon Department of Revenue.

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Download Form 150-104-004 Schedule OR-OSMP "Oregon Special Marital Property" - Oregon

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2018 Schedule OR-OSMP
Office use only
17531801010000
Page 1 of 2, 150-104-004 (Rev. 07-18)
Oregon Department of Revenue
Oregon Special Marital Property
Submit original form—do not submit photocopy.
Calculation for Form OR-706
Estate of:
Decedent’s Social Security number
Date of death
/
/
.00
1. Gross estate, Form OR-706, part 2, line 1 ........................
1.
LESS:
.00
2. Schedule J ...........................
2.
.00
3. Schedule K ..........................
3.
.00
4. Schedule L ...........................
4.
.00
5. Schedule M (federal only) ....
5.
.00
6. Schedule O ..........................
6.
.00
7. Total deductions (add lines 2–6) .......................................
7.
.00
8. Net distributable estate (line 1 minus line 7) .................................................................
8.
1,000,000.00
9. LESS: Oregon filing threshold ......................................................................................
9.
.00
10. Minimum OSMP deduction needed to reduce Oregon tax to zero (line 8 minus line 9) .... 10.
Specific assets for OSMP election. You may make an OSMP election for all or part of a trust or other property. If you
make a partial election of any item, enter the fractional portion or percentage in column B. Round to four decimal places.
A. Schedule &
B. Portion
C. Property description
D. Amount
item number
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
D. Total
.00
.00
11. Total property interests listed (from column D above) .................................................
11.
.00
12. Total from included continuation schedules (if needed) ..............................................
12.
13. Total OSMP (add lines 11 and 12). Enter on the Schedule M for Oregon only
.00
and add this amount to Form OR-706, recapitulation, part 5, line 520 ......................
13.
Clear This Page
2018 Schedule OR-OSMP
Office use only
17531801010000
Page 1 of 2, 150-104-004 (Rev. 07-18)
Oregon Department of Revenue
Oregon Special Marital Property
Submit original form—do not submit photocopy.
Calculation for Form OR-706
Estate of:
Decedent’s Social Security number
Date of death
/
/
.00
1. Gross estate, Form OR-706, part 2, line 1 ........................
1.
LESS:
.00
2. Schedule J ...........................
2.
.00
3. Schedule K ..........................
3.
.00
4. Schedule L ...........................
4.
.00
5. Schedule M (federal only) ....
5.
.00
6. Schedule O ..........................
6.
.00
7. Total deductions (add lines 2–6) .......................................
7.
.00
8. Net distributable estate (line 1 minus line 7) .................................................................
8.
1,000,000.00
9. LESS: Oregon filing threshold ......................................................................................
9.
.00
10. Minimum OSMP deduction needed to reduce Oregon tax to zero (line 8 minus line 9) .... 10.
Specific assets for OSMP election. You may make an OSMP election for all or part of a trust or other property. If you
make a partial election of any item, enter the fractional portion or percentage in column B. Round to four decimal places.
A. Schedule &
B. Portion
C. Property description
D. Amount
item number
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
.
.00
%
D. Total
.00
.00
11. Total property interests listed (from column D above) .................................................
11.
.00
12. Total from included continuation schedules (if needed) ..............................................
12.
13. Total OSMP (add lines 11 and 12). Enter on the Schedule M for Oregon only
.00
and add this amount to Form OR-706, recapitulation, part 5, line 520 ......................
13.
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2018 Schedule OR-OSMP
17531801020000
Page 2 of 2, 150-104-004 (Rev. 07-18)
Oregon Department of Revenue
Election to be signed by all permissible distributees except the surviving spouse: Each of the undersigned acknowledge
and consent to a portion of
the___________________________________________________
(name of trust or other property
interest) being set aside as a separate share or trust in order to qualify for the Oregon special marital property election in
accordance with ORS 118.013, for the primary purpose of reducing or eliminating the Oregon estate tax due on the estate of
_______________________
(name of decedent). The undersigned together with the surviving spouse constitute all of the per-
sons living on the date of this election who may be entitled to a distribution during the lifetime of the surviving spouse from
the
___________________________________________________
(name of trust or other property interest). Each of the under-
signed, both on behalf of the undersigned and on behalf of the unborn lineal descendants of the undersigned, irrevocably agrees
to release all rights to any current interest in the Oregon special marital property during the lifetime of the surviving spouse.
Each of the undersigned agrees that all other provisions of the
____________________________________________________
(name of trust or other property interest) shall remain in effect and that, upon the death of the surviving spouse, any re-
maining Oregon special marital property shall be distributed as otherwise provided in the trust or other property interest.
Signature of:
(permissible distributee)
Signature of:
(permissible distributee)
Signature of:
(permissible distributee)
Signature of:
(permissible distributee)
If more signature lines are needed, include a continuation schedule.
Subscribed and sworn to before me this
day of
, 20
.
Notary Public
My commission expires:
Election to be signed by the surviving spouse: I am the surviving spouse of
(name of decedent). I acknowledge and consent to a portion of the
(name of trust or other property interest) being set aside as a separate share or trust in order to qualify as Oregon special marital
property under ORS 118.013, for the primary purpose of reducing or eliminating the Oregon estate tax due on the estate of
(name of decedent). I, together with all of the other individuals
executing the election in accordance with ORS 118.013, constitute all of the persons living on the date of this election who
are permissible distributees or who may be entitled to a distribution from the Oregon special marital property to which this
election applies.
I agree that all other terms, conditions and provisions that apply to the
(name of trust or other property interest) shall apply to the Oregon special marital property to which this election applies,
and that upon my death, any remaining Oregon special marital property shall be distributed as otherwise provided in the
trust or other property interest.
Signature of:
(surviving spouse)
Subscribed and sworn to before me this
day of
, 20
.
Notary Public
My commission expires:
Include the Oregon only Schedule M and Schedule OR-OSMP calculation with Form OR-706
Instructions for 2018 Schedule OR-OSMP,
Oregon Special Marital Property
Use this schedule for estates making an Oregon special marital property (OSMP) election
under Oregon Revised Statutes (ORS) 118.013 and 118.016.
Schedule OR-OSMP instructions
Column B. Show the fractional portion or percentage, if 100
percent isn’t OSMP property. Round to four decimal places.
Note: You aren’t required to submit page 2 of this form if only
Column C. Describe the property.
the surviving spouse will benefit from the marital property.
Column D. Show the value of the property for the election.
The Oregon special marital property (OSMP) election is an
If more space is needed, include a continuation schedule.
election made by the estate executor.
Line 13. This is your OSMP election amount. Enter this
This election is irrevocable.
amount on your Oregon-only Schedule M and add this
Complete this schedule if there is a difference between your
amount to your federal Schedule M amount on Form OR-706,
federal and state marital deduction and you want to reduce
recapitulation, part 5, line 520.
the Oregon estate transfer tax debt.
Example: Federal Schedule M is $2.4 million plus your
Does the trust or other property interest allow distributions to
OSMP of $1 million equals a total of $3.4 million ($3,400,000)
persons other than the surviving spouse? If yes, the executor
on Form OR-706, part 5, line 520.
may use this schedule to elect a share of the trust or other prop-
erty interest for the benefit of the surviving spouse as OSMP.
Do you have questions or need help?
The surviving spouse and each permissible distributee must
have their signatures notarized. A permissible distributee
Internet
is a beneficiary who’s currently eligible to receive distribu-
tions of trust income or principal, whether the distribution
is mandatory or discretionary (ORS 130.010). Use page 2 of
www.oregon.gov/dor
Schedule OR-OSMP to make the election and get consent
• Download forms, instructions, and publications.
from all permissible distributees.
• Access Revenue Online to make payments.
Unless the executor identifies a fractional portion or per-
• Search FAQs.
centage of the trust or other property for this election, the
executor is deemed to have made an OSMP election on the
Email
entire trust or other property.
estate.help.dor@ oregon.gov
Line instructions
This email address isn’t secure and confidentiality can’t be ensured. Gen-
eral tax and policy questions only. We ask that professional tax preparers
Line 2. The total funeral and administrative expenses from
and attorneys research questions before contacting us.
federal Schedule J claimed on Form OR-706, part 5, recapitu-
lation, line 513.
Correspondence
Line 3. The total debts, mortgages, and liens from federal
Schedule K claimed on Form OR-706, part 5, recapitulation,
Estate Audit, Business Division
lines 514 and 515.
Oregon Department of Revenue
Line 4. The total net losses during administration and
PO Box 14110, Salem OR 97309-0910
expenses incurred administering property not subject to
Fax: (503) 945-8787, Estate Tax Unit
claims from federal Schedule L claimed on Form OR-706,
part 5, recapitulation, lines 518 and 519.
Phone
Line 5. The total marital bequests from federal Schedule
M claimed on Form OR-706, part 5, recapitulation, line 520.
(503) 378-4988 or (800) 356-4222
Line 6. The total charitable bequests from federal Schedule O
Monday–Friday, 7:30 a.m.–5 p.m.
claimed on Form OR-706, part 5, recapitulation, line 521.
Closed Thursdays from 9–11 a.m. Closed holidays.
Line 9. Oregon estate transfer tax filing threshold is $1 million.
Wait times may vary.
Line 10. This is the minimum OSMP amount needed to
Contact us for ADA accommodations or assistance in other
reduce your Oregon estate transfer tax debt to zero.
languages.
Specific assets for OSMP election: Identify the specific
In person
property for the OSMP election.
Column A. Show the schedule and item number where
Find directions and hours on our website.
the OSMP asset is identified for gross estate.
150-104-004 (Rev. 07-18)
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