IF/OR formula is not working correctly (EXCEL)

Question

So I'm trying to write an IF/OR formula so that when cell (J$4 = [value or value2]) it would pull a certain value. However, when it is blank I want it to default to 0, but it would not. It would pull the value even if blank. Any help would be greatly appreciated.

formula:

=IFERROR(IF(OR(J$4="1120S",1120),INDEX(B1HY3!$A$3:$F$300,MATCH("L 1",B1HY3!$F$3:$F$300,0),5),0),0)

Answer 1

Instead of:

=IFERROR(IF(OR(J$4="1120S",1120),INDEX(B1HY3!$A$3:$F$300,MATCH("L 1",B1HY3!$F$3:$F$300,0),5),0),0)

You should use:

=IFERROR(IF(OR(J$4="1120S",J$4=1120),INDEX(B1HY3!$A$3:$F$300,MATCH("L 1",B1HY3!$F$3:$F$300,0),5),0),0)

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Notice the change from:

OR(J$4="1120S",1120)

to:

OR(J$4="1120S",J$4=1120)

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See more at: OR() function - Office Support