Form 511 - Oklahoma Resident Individual Income Tax Forms And Instructions - 2014 Page 8
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40Select Line Instructions
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12
Federal Adjusted Gross Income
Total Deductions and Exemptions
Enter your Federal Adjusted Gross Income from your federal
If you completed lines 10 and 11, enter the total on line 12. If you
return. This can be from any one of the following forms: 1040,
instead completed Schedule 511-D, enter the total from line 5 of
1040A or 1040EZ.
Schedule 511-D.
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If you do not have an Oklahoma filing requirement, see page 5.
Oklahoma Income Tax
Using Form 511, line 13, find your tax in the Tax Table (pages
2
Subtractions
20-31). Enter the result here unless you used Form 573 “Farm
Enter the total from Schedule 511-A, line 14. See Schedule 511-A
Income Averaging”. If you used Form 573, enter the amount from
instructions on pages 13-15.
Form 573, line 22, and enter a “1” in the box.
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Amounts withdrawn from a Health Savings Account for any
Out-of-State Income
purpose other than those described in 36 OS Sec. 6060.17 and
This is income from real or tangible personal property or business
which are included in your Federal Adjusted Gross Income are
income in another state. This includes partnership gains and
subject to an additional 10% tax. Add the additional 10% tax to
gains sustained by S corporations attributable to other states. It is
your tax from the tax table* and enter a “2” in the box.
not non-business interest, installment sale interest, non-business
dividends, salary/wages, pensions, gambling or income from
* If you also used Form 573, add the 10% tax to the tax from
personal services. (See instructions for line 16.) On line 4a, enter
Form 573, line 22.
a brief description of the type of out-of-state income deducted
15
Child Care/Child Tax Credit
on 4b. Furnish detailed schedule showing the type, nature and
Complete line 15 unless your Oklahoma Adjusted Gross Income
source of the income and copy of federal return. Documents
(Form 511, line 7) is less than your Federal Adjusted Gross
submitted should reflect to which state(s) the income is attribut-
Income (Form 511, line 1). If your Oklahoma Adjusted Gross In-
able. Enclose the other state’s return and/or Schedule K-1, if
come is less than your Federal Adjusted Gross Income, complete
applicable.
Schedule 511-E to determine the amount to enter on line 15.
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Additions
If your Federal Adjusted Gross Income is $100,000 or less and you
Enter the total from Schedule 511-B, line 8. See Schedule 511-B
are allowed either a credit for child care expenses or the child tax
instructions on pages 15-16.
credit on your federal return, you are allowed a credit against your
Oklahoma tax. Your Oklahoma credit is the greater of:
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Adjustments
• 20% of the credit for child care expenses allowed by the IRC.
Enter the total from Schedule 511-C, line 7. See Schedule 511-C
Your allowed federal credit cannot exceed the amount of your
instructions on pages 17-18.
federal tax reported on your federal return.
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or
Deductions
• 5% of the child tax credit allowed by the IRC. This includes
Complete line 10 unless you have out-of-state income (Form 511,
both the nonrefundable child tax credit and the refundable ad-
line 4). If you have out-of-state income, complete Schedule 511-D
ditional child tax credit.
instead of line 10.
If your Federal Adjusted Gross Income is greater than $100,000
• Enter the Oklahoma standard deduction if you did not claim
no credit is allowed.
itemized deductions on your federal return.
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Credit for Tax Paid to Another State
If your filing status is “single” or “married filing separate”, your
If you receive income for personal services from another state,
Oklahoma standard deduction is $6,200.
you must report the full amount of such income on your Okla-
If your filing status is “head of household”, your Oklahoma
homa return. If the other state also taxes the income, a credit
standard deduction is $9,100.
is allowed on Form 511. Complete Oklahoma Form 511TX and
furnish a copy of the other state(s) return, or Form W-2G if the
If your filing status is “married filing joint” or “qualifying
taxing state does not allow a return to be filed for gambling win-
widow(er)”, your Oklahoma standard deduction is $12,400.
nings (example: Mississippi).
Note: You qualify for the Oklahoma standard deduction even
Note: Taxpayers who have claimed credit for taxes paid to an-
when claimed as a dependent on another return.
other state on the other state’s income tax return do not qualify to
claim this credit based on the same income.
• If you claimed itemized deductions on your federal return (Form
1040, Schedule A), enter the amount of your allowable itemized
Oklahoma Tax Law requires you
deductions. (Enclose a copy of your Federal Schedule A.)
to pay a use tax on certain
items bought out-of-state for
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Exemptions
use in Oklahoma.
Complete line 11 unless you have out-of-state income (Form 511,
Pay your use tax!
line 4). If you have out-of-state income, complete Schedule 511-D
instead of line 11.
It’s the law.
Oklahoma allows $1,000 for each exemption claimed on the top
of the return.
More information at
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