Form 511 - Oklahoma Resident Individual Income Tax Forms And Instructions - 2014 Page 13
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40Schedule 511-A
A1
Interest on U.S. Government Obligations
Oklahoma Government or Federal Civil Service
A5
Retirement
If you report interest on bonds, notes and other obligations of the
Each individual may exclude their retirement benefits up to
U.S. government on your federal return, this income may be ex-
$10,000, but not to exceed the amount included in the Federal
cluded from your Oklahoma Adjusted Gross Income if a detailed
Adjusted Gross Income. (To be eligible, you must have retirement
schedule is furnished, accompanied with 1099s showing the
income in your name.) The retirement benefits must be received
amount of interest income and the name of the obligation from
from the following: the civil service of the United States*, the
which the interest is earned. If the income is from a mutual fund
Oklahoma Public Employees Retirement System of Oklahoma,
which invests in U.S. government obligations, enclose docu-
the Oklahoma Teacher’s Retirement System, the Oklahoma Law
mentation from the mutual fund to substantiate the percentage
Enforcement Retirement System, the Oklahoma Firefighters Pen-
of income derived from obligations exempt from Oklahoma tax.
sion and Retirement System, the Oklahoma Police Pension and
Interest from entities such as FNMA and GNMA does not qualify.
Retirement System, the Employee retirement systems created
by counties pursuant to 19 OS Sec. 951, the Uniform Retirement
Note: The capital gain/loss from the sale of an U.S. Government
System for Justices and Judges, the Oklahoma Wildlife Conser-
Obligation is exempt. Enter exempt gains on Schedule 511-A,
vation Department Retirement Fund, the Oklahoma Employment
line 11 and exempt losses on Schedule 511-B, line 7.
Security Commission Retirement Plan, or the Employee retire-
ment systems created by municipalities pursuant to 11 OS Sec.
A2
Social Security
48-101. Enclose a copy of Form 1099-R.
Social Security benefits that are included in the Federal Adjusted
*Do not include on this line the CSRS retirement benefits already
Gross Income shall be subtracted. Enclose a copy of your fed-
excluded on Schedule 511-A, line 3.
eral return.
Note: An early distribution from a retirement fund due to termina-
A3
Federal Civil Service Retirement in Lieu of
tion of employment prior to your retirement or disability does not
Social Security
qualify for the $10,000 retirement income exclusion. Generally,
Each individual may exclude 100% of their retirement benefits
there is a “1” in box 7 of your Form 1099-R for this type of dis-
received from the Federal Civil Service Retirement System
tribution. This distribution may qualify for the “Other Retirement
(CSRS), including survivor benefits, paid in lieu of Social Security
Income” exclusion on Schedule 511-A, line 6.
to the extent such benefits are included in the Federal Adjusted
A6
Other Retirement Income
Gross Income. Enter your Retirement Claim Number from your
Form CSA 1099-R or CSF 1099-R in the box on Schedule 511-A,
Each individual may exclude their retirement benefits, up to
$10,000, but not to exceed the amount included in the Fed-
line 3. Enclose a copy of Form CSA 1099-R or CSF 1099-R with
eral Adjusted Gross Income. For any individual who claims the
your return. To be eligible, such 1099-R must be in your name.
exclusions for government retirees on Schedule 511-A, line 5,
Note: Retirement benefits paid under the Federal Employees
the amount of the exclusion on this line cannot exceed $10,000
Retirement System (FERS) do not qualify for this exclusion.
minus the amounts already claimed on Schedule 511-A, line 5 (if
less than zero, enter zero).
However, for retirement benefits containing both a FERS and
a CSRS component, the CSRS component will qualify for the
The retirement benefits must be received from the following and
exclusion. Provide substantiation for the CSRS component,
satisfy the requirements of the IRC: an employee pension benefit
such as a copy of your Notice of Annuity Adjustment.
plan under IRC Section 401, an eligible deferred compensation
plan under IRC Section 457, an individual retirement account,
A4
Military Retirement
annuity or trust or simplified employee pension under IRC Sec-
Each individual may exclude the greater of 75% of their retirement
tion 408, an employee annuity under IRC Section 403 (a) or (b),
benefits or $10,000, but not to exceed the amount included in the
United States Retirement Bonds under IRC Section 86, or lump-
Federal Adjusted Gross Income. The retirement benefits must be
sum distributions from a retirement plan under IRC Section 402
from any component of the Armed Forces of the United States.
(e). Enclose a copy of Form 1099-R or other documentation.
2-D Barcode Information
Does Your Form Have One of These?
If you recognize this barcode from your tax return, your return was prepared using computer software utilizing two
dimensional barcoding. This means your tax information will be processed faster and more accurately and you will
see your refund faster!
The special mailing address for 2-D income tax forms is:
Oklahoma Tax Commission
Post Office Box 269045
Oklahoma City, OK 73126-9045
Note: Any hand written information will not be captured when a return is processed using the 2-D barcode.
13
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