Form 573 - Farm Income Averaging - 2011
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1
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3State of Oklahoma
Farm Income Averaging
573
2
0
1
Enclose this form with your Oklahoma tax return.
1
Taxpayer’s First Name and Initial
Last Name
Taxpayer Social Security Number
1 Enter the 2011 taxable income from Form 511, line 13 or Form 511NR, line 31 ..
00
2 Enter your elected farm income, but not more than the amount on line 1.
(see instructions) ..................................................................................................
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3 Subtract line 2 from line 1 . ....................................................................................
00
4 Figure the tax on the amount on line 3. Use the 2011 Tax Table . .......................
00
5 Enter the 2008 taxable income.
To determine taxable income see page 3.
.................
00
(if zero or less see instructions)
6 Divide the amount on line 2 by 3.0 .......................................................................
00
7 Combine lines 5 and 6. If less than zero enter - 0 - . .............................................
00
8 Figure the tax on the amount on line 7 using 2008 tax rates.
(see page 3 for tax rate schedule) . .......................................................................
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9 Enter the 2009 taxable income.
To determine taxable income see page 3.
.................
00
(if zero or less see instructions)
10 Enter the amount from line 6 ................................................................................
00
11 Combine lines 9 and 10. If less than zero enter as a negative amount . ...............
00
12 Figure the tax on the amount on line 11 using 2009 tax rates.
00
(see page 3 for tax rate schedule) . .......................................................................
13 Enter the 2010 taxable income.
.................
00
To determine taxable income see page 3.
(if zero or less see instructions)
00
14 Enter the amount from line 6 ................................................................................
15 Combine lines 13 and 14. If less than zero enter as a negative amount . .............
00
16 Figure the tax on the amount on line 15 using 2010 tax rates.
00
(see page 3 for tax rate schedule) . ......................................................................
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17 Add lines 4, 8, 12 and 16 . .....................................................................................
18 Enter the tax for 2008. To determine tax see, page 3 . ..........................................
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19 Enter the tax for 2009. To determine tax see, page 3 . ..........................................
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20 Enter the tax for 2010. To determine tax see, page 3 . ..........................................
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2 1 Add lines 18 through 20 . .......................................................................................
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22 Subtract line 21 from line 17, enter here and on Form 511, line 14 or
Form 511NR, line 32.
. ......
00
(Be sure and enter a “1” in the box for “Farm Income Averaging”)
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