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March 19, 2025
Question

OK capital gains from Nonresident 1099-B for Crypto sale

  • March 19, 2025
  • 1 reply
  • 0 views

Turbo Tax doesn't explain how to remove crypto sale from OK tax return.  It was claimed on Federal Return but we reside in FL since 2020 and just claim the income from a rental property in OK. We bought crypto 2023 and sold it in 2024 while living in Florida.  Don't believe we are expected to claim the gain as OK income and if I'm correct how do we delete it from OK return?

Sincerely,

Carolyn

    1 reply

    March 20, 2025

    Within the Oklahoma tax return, the transactions are being  transferred to Oklahoma form 561 Capital Gain Deduction for Residents.  The software thinks the sale may qualify for the deduction.

     

     

    Select This property does not qualify for deduction.

     

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