For current IDA Savers: Do You Have Questions about IDAs and Oregon Taxes?

The following document answers a few basic questions for IDA savers, and can also be shared with your tax preparer to better understand tax implications of IDAs.
Questions include:

  1. I saved last year with an IDA. How does that change my Oregon taxes?
  2. I took out funds from my IDA account last year. How does that affect my Oregon taxes?
  3. I took out savings from my IDA account to contribute to an IRA last year. How does that affect my taxes?

See below for the 2020 participant information sheet for IDA related tax issues.

2020 Participant Information Sheet for IDA related Tax Issues