Form 511 - Oklahoma Resident Individual Income Tax Forms And Instructions - 2014 Page 2

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What’s New in the 2014 Oklahoma Tax Packet?
• When computing Oklahoma’s additional depletion, only major oil
• The Coal Credit and the Credit for Electricity Generated by Zero-
companies are limited to 50% of the net income per well. See the
Emission Facilities may be refundable. See the instructions for
instructions for Schedule 511-A, line 8 on page 14.
line 29 on page 12 and Forms 577 and 578.
• There is a new deduction for individuals providing foster care.
• You may check the status of your refund on our website. For
See the instructions for Schedule 511-C, line C5 on page 17.
more information, see All About Refunds on page 5.
• Income from discharge of indebtedness which was added back
Helpful Reminder - The Schedule 511-C adjustments for
to compute your Oklahoma taxable income in tax year 2010 may
Political Contributions and Interest Qualifying for Exclusion are
be partially deductible. See the instructions for Schedule 511-C,
no longer available. Both were repealed.
line C6, #12 on page 18.
Before You Begin
Helpful Hints
You must complete your federal income tax return before begin-
• File your return by April 15, 2015. See page 4 for information
ning your Oklahoma income tax return. You will use the information
regarding extended due date for electronically filed returns.
entered on your federal return to complete your Oklahoma return.
• If you need to file for an extension, use Form 504 and then
Remember, when completing your Oklahoma return, round all
later file a Form 511.
amounts to the nearest dollar.
• Be sure to enclose copies of your Form(s) W-2, 1099 or other
Example:
withholding statement with your return. Enclose all federal sched-
$2.01 to $2.49 - round down to $2.00
ules as required.
$2.50 to $2.99 - round up to $3.00
Important: If you fill out any portion of the
Common Abbreviations
Schedules 511-A through 511-H or Form 538-S,
Found in this Packet
you are required to enclose those pages with your
return. Failure to include the pages will result in a
IRC - Internal Revenue Code
delay of your refund.
OS
- Oklahoma Statutes
• Be sure to sign and date the return. If you are filing a joint
OTC - Oklahoma Tax Commission
return, both you and your spouse need to sign.
Sec. - Section(s)
• After filing, if you have questions regarding the status of your
refund, call (405) 521-3160. The in-state toll-free number is (800)
Table of Contents
522-8165.
Determining Your Filing Requirement ................ 3
• Do not enclose any correspondence other than those docu-
Residence Defined ............................................ 4
ments and schedules required for your return.
Resident Income................................................ 4
• Would you like your refund faster? Choose to have your refund
Due Date ........................................................... 4
direct deposited into your checking or savings account.
Extensions ......................................................... 4
Who Must File.................................................... 4
• When you complete the direct deposit section on the Form 511,
Not Required to File........................................... 5
verify the routing and account numbers are correct. If the direct
Refunds ............................................................. 5
deposit fails to process, your refund will be mailed to you on a
Net Operating Loss............................................ 5
debit card.
Estimated Income Tax ....................................... 5
Amended Returns.............................................. 6
Top of Form Instructions .................................... 6-7
Form 511: Select Line Instructions .................... 8-12
When You Are Finished ..................................... 12
Oklahoma Taxpayer
Schedule 511-A Instructions .............................. 13-15
Schedule 511-B Instructions .............................. 15-16
Access Point
Schedule 511-C Instructions .............................. 17-18
Schedule 511-D Instructions .............................. 19
Schedule 511-E Instructions .............................. 19
Schedule 511-F Instructions .............................. 19
2-D Fill-in Forms with Online Calculations
Schedule 511-G Instructions ............................. 19
Schedule 511-H Instructions .............................. 19
Download Forms 24/7
Contact Information and Assistance .................. 19
Tax Table ........................................................... 20-31
View FAQs or Email the OTC a Question
Direct Deposit Information ................................. 32
2

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