Instructions for Form 150-101-002 Schedule OR-K-1 Distributive Share of Income, Deductions, Credits, Etc. - Oregon

Form 150-101-002 Schedule OR-K-1 Distributive Share of Income, Deductions, Credits, Etc. - Oregon

This document contains official instructions for Form 150-101-002 Schedule OR-K-1, Distributive Share of Income, Deductions, Credits, Etc. - a form released and collected by the Oregon Department of Revenue. An up-to-date fillable Form 150-101-002 Schedule OR-K-1 is available for download through this link.

FAQ

Q: What is Form 150-101-002?
A: Form 150-101-002 is a schedule used to report the distributive share of income, deductions, credits, etc. for Oregon state taxes.

Q: Who needs to file Form 150-101-002?
A: Form 150-101-002 must be filed by individuals or entities that are part of a partnership or an S corporation and have income, deductions, credits, etc. from Oregon sources.

Q: What is the purpose of Form 150-101-002?
A: The purpose of Form 150-101-002 is to report the portion of a partnership or S corporation's income, deductions, credits, etc. that is allocated to each individual or entity.

Q: When is the deadline to file Form 150-101-002?
A: The deadline to file Form 150-101-002 is determined by the due date of the partnership or S corporation's tax return.

Q: Is Form 150-101-002 the same as the federal Schedule K-1?
A: No, Form 150-101-002 is specific to Oregon state taxes and is used to report information for Oregon tax purposes.

Q: What happens if I don't file Form 150-101-002?
A: Failure to file Form 150-101-002 may result in penalties and interest being assessed by the Oregon Department of Revenue.