Form 511 - Oklahoma Resident Income Tax Return - 2011 Page 4

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2011 Form 511 - Resident Income Tax Return - Page 4
NOTE: Enclose this page ONLY if you have an amount shown on a schedule.
Name(s) shown
Your Social
on Form 511:
Security Number:
Schedule 511-D
Deductions and Exemptions
See instructions for details on qualifications and required enclosures.
Use this schedule if you have income from out-of-state (Form 511, line 4). Your exemptions and deductions must be prorated on the
ratio of Oklahoma Adjusted Gross Income to Federal Adjusted Gross Income reduced by allowable adjustments except out-of-state
income. If you do not have out-of-state income on Form 511, line 4, do not use this schedule. Instead complete Form 511, lines 10-11.
00
Oklahoma standard deduction or Federal itemized deductions claimed ........................
1
1
Exemptions ($1,000 x number of exemptions claimed at top of Form 511) ...................
00
2
2
Total (add lines 1 and 2) .................................................................................................
00
3
3
Divide the amount on line 7 of Form 511 by the amount on line 3 of Form 511
4
•
BACK TO PAGE 1
•
%
Enter the percentage from the above calculation here
...
(do not enter more than 100%)
4
Total allowable deductions and exemptions (multiply line 3 by percentage on line 4,
5
00
enter total here and on line 12 of Form 511)
.....
(Leave lines 10 and 11 of Form 511 blank)
5
Schedule 511-E
Child Care/Child Tax Credit
See instructions for details on qualifications and required enclosures.
If your Federal Adjusted Gross Income is $100,000 or less and you are allowed either a credit for child care expenses or the child tax
credit on your Federal return, you are allowed a credit against your Oklahoma tax. Your Oklahoma credit is the greater of:
• 20% of the credit for child care expenses allowed by the IRS Code.
Your allowed Federal credit cannot exceed the amount of your Federal tax reported on your Federal return.
or
• 5% of the child tax credit allowed by the IRS Code.
This includes both the nonrefundable child tax credit and the refundable additional child tax credit.
The credit must be prorated based on the ratio of Oklahoma Adjusted Gross Income to Federal Adjusted Gross Income.
If your Federal Adjusted Gross Income is greater than $100,000, no credit is allowed.
Enclose a copy of your Federal return and, if applicable, the Federal child care credit schedule.
00
Enter your Federal child care credit ..............................
1
1
00
Multiply line 1 by 20% ....................................................
2
2
Enter your Federal child tax credit
3
00
(total of child tax credit & additional child tax credit)......
3
00
Multiply line 3 by 5% ......................................................
4
4
BACK TO PAGE 1
00
Enter the larger of line 2 or line 4 ...................................................................................
5
5
Divide the amount on line 7 of Form 511 by the amount on line 1 of Form 511
6
•
•
%
Enter the percentage from the above calculation here
........
(do not enter more than 100%)
6
Multiply line 5 by line 6. This is your Oklahoma child care/child tax credit.
7
00
Enter total here and on Form 511, line 15 ......................................................................
7

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