Form 561 - Oklahoma Capital Gain Deduction For Residents - 2006
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1State of Oklahoma
Tax Year 2006
Oklahoma Capital Gain Deduction
561
for Residents Filing Form 511
(Qualifying Assets Held for the Applicable 2 or 5 Year Period)
Name(s) as shown on return
Social Security Number
1. List qualifying Oklahoma capital gains and losses, not included on lines 2 through 5 below.
A1. Description of Property
B. Date
C. Date Sold
D. Sales Price
E. Cost or
F. Gain or (loss)
Acquired
(mm/dd/yy)
Other Basis
A2. Oklahoma Location or
(mm/dd/yy)
Federal ID Number
A1)
A2)
A1)
A2)
A1)
A2)
A1)
A2)
A1)
A2)
A1)
A2)
A1)
A2)
2. Qualifying Oklahoma capital gain from installment sales reported on Federal Schedule D,
2
line 11. Enclose Federal Form 6252 ......................................................................................
3. Qualifying Oklahoma net capital gain from sale of business property reported on Federal
3
Schedule D, line 11. Enclose Federal Form 4797 .................................................................
4. Other qualifying Oklahoma net capital gain or (loss) reported on Federal Schedule D, line
4
11, not included in lines 2 and 3 above. Enclose applicable Federal form(s) ........................
5. Qualifying Oklahoma net capital gain or (loss) from partnerships, S corporations, estates
5
or trusts reported on Federal Schedule D, line 12. Enclose Federal Schedule K-1 ..............
6
6. Add amounts in Column F on line 1 and lines 2 through 5 .....................................................
7. Qualifying Oklahoma capital loss carryover reported on Federal Schedule D, line 14.
7
(See instructions) ....................................................................................................................
8. Qualifying Oklahoma net capital gain. Subtract line 7 from line 6.
8
(If zero or less, enter “0”) ........................................................................................................
9. Oklahoma net capital gain included in Federal adjusted gross income.
9
See instructions and worksheet. (If zero or less, enter “0”) ...................................................
10. Oklahoma Capital Gain Deduction. Enter the smaller of lines 8 or 9 here and on Form
10
511, Schedule 511-A, line 11. (Do not enter less than zero) ..................................................
Enclose Federal Form 1040 Schedule D
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