Form 511nol - Oklahoma Net Operating Loss Full-Year Residents Only - 2006
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1
2Supplement to Form 511
511nol
Oklahoma Net Operating Loss Full-Year Residents Only
Revised 2006
511NOL
Taxpayer Social Security Number
Taxpayer’s first name and initial
Last name
Schedule A
Computation of Oklahoma Net Operating Loss for Tax Year
Computation of Oklahoma Net Operating Loss for Tax Year
Computation of Oklahoma Net Operating Loss for Tax Year
Computation of Oklahoma Net Operating Loss for Tax Year
Computation of Oklahoma Net Operating Loss for Tax Year
1.
Oklahoma adjusted gross income from Form 511........................................................................................
1
2.
a.
Enter amount from the NOL Instructions: Computation of Itemized Deductions
.
or Oklahoma Standard Deduction if you did not itemize
.............................................
2a
b.
Enter Adjustments to Oklahoma Adjusted Gross Income
.................
Examples: Military Pay Exclusion, Interest Exclusion, etc. (from Schedule 511-C)
2b
(
)
c.
Add lines 2a and 2b..........................................................................................................................
2c
3.
Combine lines 1 and 2c. Enter the total here..............................................................................................
3
Note: If line 3 is zero or more, do not complete remainder of schedule. There is no net operating loss.
ADJUSTMENTS: Lines 4 - 26 are entered as positive numbers.
4.
Enter Oklahoma nonbusiness capital losses (before limitation).
For 2005 and later years,
(from Schedule 511-A) ...........
also enter the nonbusiness Oklahoma Capital Gain Deduction
4
5.
Enter Oklahoma nonbusiness capital gains.
(without regard to any Section 1202 exclusion)...............................................................
5
6.
If line 4 is larger than line 5, enter difference; otherwise enter zero................................
6
7.
If line 5 is larger than line 4, enter difference; otherwise enter zero....
7
8.
Oklahoma nonbusiness deductions.
Examples: included in line 2a and 2b above, other Oklahoma nonbusiness deductions
(from Schedule 511-A)
and Federal nonbusiness adjustment..........................................
8
9.
Oklahoma nonbusiness income - other than capital gains.
• Combine Oklahoma nonbusiness income (from Schedule 511-B)
and Federal nonbusiness income
....................................................
9
10.
Add lines 7 and 9...........................................................................................................
10
11.
If line 8 is larger than line 10, enter difference; otherwise, enter zero.........................................................
11
12.
If line 10 is larger than line 8, enter difference (but do not
enter more than line 7); otherwise, enter zero..................................
12
13.
Enter Oklahoma business capital losses (before limitation). For 2005 and later years,
(from Schedule 511-A)
also enter the business Oklahoma Capital Gain Deduction
............
13
14.
Enter Oklahoma business capital gains (without regard to
any Section 1202 exclusion)...............................................................
14
15.
Add lines 12 and 14........................................................................................................
15
16.
If line 13 is larger than line 15 enter difference; otherwise, enter zero............................
16
17.
Add lines 6 and 16..........................................................................................................
17
18.
Enter Net Oklahoma Loss, if any, included in line 16 (2004 - 2006),
line 17 (1997 - 2003) or line 18 (1995 and 1996) of Schedule D (Form 1040)........ .......
18
19.
Oklahoma - IRC Section 1202 exclusion....................................................................................................
19
20.
Subtract line 19 from line 18. If zero or less, enter zero..................................................
20
21.
Enter Net Oklahoma Loss, if any, included in line 21 (2004 - 2006),
line 18 (1997 - 2003) or line 19 (1995 and 1996) of Schedule D (Form 1040)................
21
22.
If line 20 is more than line 21, enter difference; otherwise enter zero.............................
22
23.
If line 21 is more than line 20, enter difference; otherwise enter zero.........................................................
23
24.
Subtract line 22 from line 17. If zero or less, enter zero..............................................................................
24
25.
Oklahoma Net Operating Loss from other years.........................................................................................
25
26.
Combine lines 3, 11, 19, 23, 24, and 25.....................................................................................................
26
Note: If more than zero, enter zero. You do not have a Net Operating Loss.
A copy of your Federal return is required for the loss year entered above.
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