OK form 561

If your sales does not qualify for the Oklahoma capital gains exclusion, select EDIT to check the box indicating that on each transaction.

• Continue in the Oklahoma section until you come to Summary of Oklahoma Capital Gains and Losses
• Click EDIT next to each transaction
• Leave blank Oklahoma Location, Federal Identification Number and Type of Property Sold
• Check the box This property does not qualify for exclusion/ Then CONTINUE.

Oklahoma allows for a deduction of capital gains from

1. Real or tangible personal property located within Oklahoma must be owned for at least five years prior to the date of sale.
2. Stock or ownership in an Oklahoma company, or partnership, owned for at least two years prior to the date of sale.
3. Sale of real property or personal property as part of the sale of assets in an Oklahoma company owned for at least two years prior to the date of sale.