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February 20, 2022
Question

I do not understand how to get past the Form 561 NR. I do not have any capital gains and losses in Oklahoma. Deleting form does not work. Ive also tried other steps.

  • February 20, 2022
  • 1 reply
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Ive tried other steps that were in other forums. Its asking for an acquisition date and I have not idea what its talking about.

1 reply

February 23, 2022

This is my answer from previous years (i.e., I haven't tried it recently):

 

 

You evidently have capital gains from sales outside of Oklahoma. The way to handle this in the Oklahoma is a bit confusing.

 

First, when you see the summary of Oklahoma Capital Gains and Losses, press Edit for each gain.

 

The next screen will read Oklahoma Capital Asset Location and Type for each sale. Check the box "This property does not qualify for exclusion". If you go to Forms mode (if you are using the desktop software or have already paid for the Online product), you will see that the box in the far left column of form 561NR has been checked for that sale, indicating that you want to exclude a gain or loss (see form). 

 

This is completely counter-intuitive, but it gets you the result that you want, because it reports your Oklahoma gain as zero.

 

Note form 561NR is for nonresidents - I don't know if you are filing as a nonresident or what.

 

Alternatively, you can not check the box, but enter the federal ID number for the sale. Then, on the next screen, enter the Oklahoma gain as zero. This will achieve the same result - no gain reported in Oklahoma.

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