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Form 561NR Fillable Capital Gain Deduction (for part-year and nonresidents filing Form 511NR)
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)
Federal Amount column Oklahoma Amount column (: Line3) Unchecked (: Line5) Unchecked (Do not enter less than zero) (If zero or less enter 0 ) (Loss) (Qualifying Assets Held for the Applicable 2 or 5 Year Period) (Sales Price) (See instructions) (See instructions) (If zero or less enter 0 ) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) 1 List qualifying Oklahoma capital gains and losses not included on lines 2 through 5 below 10 Oklahoma Capital Gain Deduction Enter the smaller of lines 8 or 9 2 Qualifying Oklahoma capital gain from installment sales reported on Federal Schedule D line11 Enclose a copy of Federal Form 6252 2014 Form 561NR Page 2 2014 Form 561NR Page 3 3 Qualifying Oklahoma net capital gain from sale of business property reported on FederalSchedule D line 11 Enclose a copy of Federal Form 4797 (If gain/loss is from aFederal K 1 complete the Worksheet on page 2 and enclose a copy of the Federal 4 Other qualifying Oklahoma net capital gain or (loss) reported on Federal Schedule D line 11 5 Qualifying Oklahoma net capital gain or (loss) from partnerships S corporations estates ortrusts reported on Federal Schedule D line 12 (Complete the worksheet on page 2 andenclose a copy of the Federal Schedule K 1) 561NR 2 6 Add amounts in Columns F and G on line 1 and lines 2 through 5 68 Oklahoma Statute (OS) Sec 2358 and Rule 710:50 15 48 68 OS Sec 2358 and Rule 710:50 15 48 7 Qualifying Oklahoma capital loss carryover reported on Federal Schedule D line 14 8 Qualifying Oklahoma net capital gain Subtract line 7 from line 6 9 Net capital gain A capital loss carryover from qualified property reduces the current year gains from eligible property A1 Description of Property B Date A2 enter either the Oklahoma location/address of the real or tangible personal property sold or the Federal Identification Acquired(mm/dd/yy) Adjustments toGain or LossA2 Oklahoma Location/Addressor Federal ID Number Amount An Oklahoma company limited liability company partnership or proprietorship business enterprise is an entity whose primary C Date Sold Capital gain from qualifying property as described above held by a pass through entity is eligible for the Oklahoma capital gain capital gain sourced to Oklahoma This is the net capital gain from Form 511NR Schedule 511NR 1 line 7 Oklahoma Amount Code Section 1222(11) The qualifying gain must result from: Column F: Compare lines 8 and 9 Enter the smaller amount here and on Form 511NR Schedule 511NR B line 13 Column F: Enter other qualifying Oklahoma capital gains reported on Federal Schedule D line 11 Enclose the applicable Federal Column F: Enter qualifying Oklahoma net capital gain or loss from partnerships S corporations trusts and estates Completethe worksheet on page 2 and enclose a copy of the Federal Schedule K 1 Column F: Enter the qualifying Oklahoma net capital gain from the Federal Form 4797 which was reported on Federal Schedule Column F: Enter the total qualifying Oklahoma capital loss carryover from the prior year s return Column F: If Federal Form 6252 was used to report the installment method for gain on the sale of eligible property on the Federal Column F: The Oklahoma capital gain deduction in the Federal Amount column may not exceed the net capital gain included Column G: Compare lines 8 and 9 Enter the smaller amount here and on Form 511NR Schedule 511NR B line 13 Column G: Enter the capital gain from an installment sale of eligible property reported in Column F which was sourced to Oklahoma Column G: Enter the other qualifying Oklahoma capital gain from Federal Form 4797 reported in Column F which was sourcedto Oklahoma on Form 511NR Schedule 511NR 1 line 7 Oklahoma Amount column Column G: Enter the other qualifying Oklahoma capital gains reported in Column F which were sourced to Oklahoma on Form511NR Schedule 511NR 1 line 7 Oklahoma Amount column Column G: Enter the qualifying Oklahoma capital loss carryover reported in Column F which was sourced to Oklahoma on Form511NR Schedule 511NR 1 line 7 Oklahoma Amount column Column G: Enter the qualifying Oklahoma net capital gain or loss from flow through entities reported in Column F which was Column G: The Oklahoma capital gain deduction in the Oklahoma Amount column may not exceed the portion of the net column If there is no net capital gain enter 0 Complete a separate worksheet for each piece of property sold Enclose a copy of the Federal Schedule K 1 D Enclose a copy of the Federal Form 4797 If reporting a gain/loss from a Federal Schedule K 1 complete the worksheet onpage 2 and enclose a copy of the Federal Schedule K 1 D Proceeds Date acquired: Date sold: Date(s) you acquired ownership in the pass through entity: deduction provided the individual has been a member of the pass through entity for an uninterrupted period of the applicable Description of property sold: E Cost or Enclose a copy of Form(s) 1099 B if the qualifying Oklahoma capital gain or loss is reported on Federal Schedule D line 8a InColumn A line A1 enter the description of the property as shown on Federal Form 8949 Column a or on Form 1099 B On line Enclose Federal Form 1040 Schedule D and Form(s) 8949 F Gain or Federal for Part Year and Nonresidents Filing Form 511NR Form 561NR Worksheet for (check one): Line 3 or Line 5 Form 6252 Capital gain from an installment sale is eligible for the Oklahoma capital gain deduction provided the propertywas held for the appropriate holding period as of the date sold form enter the date you actually acquired the property For Column F combine Columns D and E Do not include gains and form(s) If not shown on the Federal form enclose a schedule identifying the type and location of the property sold the dateof the sale and the date the property was acquired G Gain or General Information headquarters has been located in Oklahoma for at least three uninterrupted years prior to the date of sale In Column G enter the qualifying Oklahoma capital gains and losses reported in Column F which were sourced to Oklahoma onForm 511NR Schedule 511NR 1 line 7 Oklahoma Amount column in Federal adjusted gross income The term net capital gain means the excess of the net long term capital gains for the taxable income Qualifying gains receiving capital treatment means the amount of net capital gains as defined under Internal Revenue Individual taxpayers can deduct qualifying gains receiving capital gain treatment which are included in Federal adjusted gross Installment sales installment sales are eligible for exclusion provided the appropriate holding periods are met Line 1 continued: Complete Columns B through E using the information from Federal Form 8949 Columns b through g or fromForm 1099 B In Column B enter the date the property was acquired If you entered VARIOUS or INHERITED on your federal Line 1: Line 10: Line 2: Line 3: Line 4: Line 5: Line 7: Line 9: List qualifying Oklahoma capital gains and losses from Federal Form(s) 8949 Part II or from Federal Schedule D line 8a Location of property: losses reported on Form 561NR lines 2 through 5 minus Name of pass through entity: Name(s) as Shown on Return Name(s) as Shown on Return Social Security Number not included on lines 2 and 3 above Enclose a copy of the applicable Federal form(s) Note: The net capital gain must be decreased for any capital gain or increased for any capital loss from the sale of state andmunicipal bonds exempt from Oklahoma income tax Number of the company limited liability company or partnership whose stock or ownership interest was sold Oklahoma Oklahoma Capital Gain Deduction Oklahoma Capital Gain Deduction for Oklahoma proprietorship business enterprise where such property has been owned by such entity or business enterprise on Form 511NR Schedule 511NR 1 line 7 Oklahoma Amount column or Disposed(mm/dd/yy) or owned by the owners of such entity or business enterprise for a period of at least two uninterrupted years priorto the date of the transaction that gave rise to the capital gain Other Basis Part Year and Nonresidents Filing Form 511NR Pass through entities prior to the date of the transaction that created the capital gain The type of asset sold as shown in 1 3 above determines Qualifying gains included in an individual taxpayer s Federal adjusted gross income for the current year which are derived from return compute the capital gain deduction using the current year s taxable portion of the installment payment Enclose Federal Schedule K 1) Social Security Number sourced to Oklahoma on Form 511NR Schedule 511NR 1 line 7 Oklahoma Amount column Specific Instructions Specific Instructions continued State of Oklahoma stock or ownership interest has been owned for at least two uninterrupted years prior to the date of the transaction thatgave rise to the capital gain; or the sale of all or substantially all of the assets of an Oklahoma company limited liability company or partnership or an the sale of real property tangible personal property or intangible personal property located within Oklahoma as part of the sale of stock or an ownership interest in an Oklahoma company limited liability company or partnership where such the sale of the real or tangible personal property located within Oklahoma that has been owned for at least five uninterrupted to the individual identifying the pass through of qualifying capital gains two or five years and the pass through entity has held the asset for not less than the applicable two or five uninterrupted years whether the applicable number of uninterrupted years is two or five The pass through entity must provide supplemental information Worksheet (Enclose with Form 561NR) year over the net short term capital loss for such year If a capital loss enter 0 years prior to the date of the transaction that gave rise to the capital gain;