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Supplement to Form 511NR

511nr-nol

Oklahoma Net Operating Loss(es)

Revised 2016

Nonresident/Part-Year Residents Only

For loss year 2016, use this form. For loss years 2015 and prior, use the NOL form from the “Archives: Past Years Income

Tax Forms” page of our website at

NOL Instructions...

The loss year return must be filed to establish the Oklahoma Net Operating Loss. If the loss is from a pass-through

entity, the pass-through entity must also file a tax return.

An Oklahoma net operating loss (NOL) shall be separately determined by reference to Section 172 of the Internal Revenue

Code as modified by the Oklahoma Income Tax Act and shall be allowed without regard to the existence of a Federal NOL.

For additional information, use the instructions for Federal Form 1045 “Application for Tentative Refund” or Federal Publication

536 “Net Operating Losses (NOLs) for Individuals, Estates, and Trusts”.

Oklahoma computes the base tax “as if” all the income were earned in Oklahoma. Therefore, an Oklahoma NOL is

computed based on the figures from the “Federal Amount Column.” This is the “Oklahoma NOL from all sources” and is

deducted in the “Federal Amount Column.”

The true Oklahoma NOL is computed using the figures from the “Oklahoma Amount Column.” This is the “Oklahoma

NOL from Oklahoma sources” and is deducted in the “Oklahoma Amount Column.” Note: If the taxpayer becomes a full-

year resident, this is the loss which would be carried to Form 511.

Each Oklahoma NOL is separately determined and allowed without regard to the existence of the other.

The loss carryback and carryforward periods shall be determined solely by reference to Section 172 of the Internal Reve-

nue Code. An election may be made to forego the NOL carryback period. A written statement of the election must be part

of the timely filed Oklahoma loss year return or to an amended return for the NOL year filed within six months of the due

date of your original return (excluding extensions).

Notes:

An NOL that is a result of a farming loss may be carried back in accordance with the provisions contained in the

Internal Revenue Code. However, the amount of the NOL carryback shall not exceed the lesser of $60,000 or the loss

properly shown on the Federal Schedule F reduced by 1/2 of the net income from all other sources other than reflect-

ed on Schedule F.

You may choose to treat a farming loss as if it were not a farming loss. To make this choice, attach a statement to your

loss year return stating that you are choosing to treat the farming loss as if it were not a farming loss under Section

172(i)(3) of the Internal Revenue Code.

Schedule A Oklahoma Amount Column Instructions

Oklahoma NOL from Oklahoma Sources

(Oklahoma Amount Column)

The “Oklahoma NOL from Oklahoma sources” is computed using 511NR-NOL Schedule A Oklahoma.

The Adjusted Gross Income - Oklahoma Sources (511NR) is to be reported on Schedule A, line 1. The following steps will be used to

calculate the itemized deductions attributable to the Oklahoma NOL. If using Oklahoma standard deductions, the entire deduction is

attributable to the Oklahoma NOL.

Example A

Example B

Taxpayer’s Use

All nonbusiness itemized deductions

10,000.00

5,000.00

All nonbusiness income (including

nonbusiness capital gains)

8,000.00

Enter lesser of lines 1 and 2.

8,000.00

5,000.00

3,000.00

Net out-of-state income.

Subtract line 4 from line 3.

Draft

(Do not enter an amount less than zero.)

5,000.00

2,000.00

9/22/16

Business itemized deductions

attributable to Oklahoma.

1,000.00

Total itemized deductions

attributable to Oklahoma.

Add lines 5 and 6, enter here and

6,000.00

3,000.00

on line 2a NOL Schedule A.

Form 511nr-Nol Draft - Oklahoma Net Operating Loss(Es) Nonresident/part-Year Residents Only - 2016

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