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March 19, 2023
Question

Excluding Oklahoma Capital Gains for Non resident

  • March 19, 2023
  • 2 replies
  • 0 views

Texas resident, filing Oklahoma state return. Entered 0 for Capital gains that apply to Oklahome, but Turbo tax still requires Cap Gains info on Summary of Oklahoma Capital Gains screen. Why do I need to enter this if it doesn't apply to OK?

2 replies

March 19, 2023

Oklahoma takes the total income to determine the tax due then applies the ratio of Oklahoma state income to the total tax- so you are only taxed on Oklahoma income but all income is needed to determine the tax.

August 29, 2023

I am Texas Resident required to file Oklahoma State Return due to Gambling Wins.

 

Also I had a Texas Partnership LLC (real estate passive) that sold a building in Texas.

 

My problem is TurboTax is listing the 1231 gain of building sale on Oklahoma State Form 511NR and is

requesting I choose the Type of Property sold in Oklahoma?