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April 15, 2025
Question

Oklahoma Form 561 - BTC Sale

  • April 15, 2025
  • 1 reply
  • 0 views

I sold a small amount of cryptocurrency (BTC) last year. TurboTax is trying to make me fill out Oklahoma Form 561, but none of the "types of property" apply as BTC is not any of the options:

1. The sale of stock in a qualified Oklahoma corporation.
2. The sale of an ownership interest in a qualified Oklahoma company, limited liability company, or partnership.
3. The sale of qualified real property located within Oklahoma.
4. The sale of qualified tangible personal property located within Oklahoma.
5. The sale of qualified intangible personal property located within Oklahoma as part of the sale of all or substantially all of the assets of an Oklahoma company, limited liability company, or partnership or an Oklahoma proprietorship business enterprise.

It also won't let me check the "exclude" box. What do I do?

1 reply

April 29, 2025

Number 4 is the answer that you would use for cryptocurrency if you are an Oklahoma resident.

 

@kburdo 

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