Oklahoma Nonresident Fiduciary Income Tax Forms And Instructions

Line by Line Instructions

Line 11 - Other Additions

Oklahoma Additions and Subtractions

Federal Amount column:

Lump sum distributions not included in the Federal total

Line 10 - State and Municipal Bond Interest

income (except any amount excluded on Federal

Federal Amount column:

Schedule D) shall be added to the Federal total income

If you received income on bonds issued by any state or

on line 11 of Form 513NR. Rollovers are taxed in the

political subdivision thereof, exempt from Federal

same year as on the Federal return. Enclose a copy of

taxation but not exempt from taxation by the laws of the

Forms 1099, and complete copy of Federal return.

State of Oklahoma, add the total of such income to

arrive at Oklahoma income.

If depletion is claimed on lease bonus and no income is

1) Income from all bonds, notes or other

received as a result of non-producing properties, upon

obligations issued by the State of Oklahoma,

expiration of the lease such depletion must be restored

the Oklahoma Capital Improvement Authority,

on line 11, in the year the lease expires. A complete

the Oklahoma Municipal Power Authority, the

schedule by property must be furnished.

Oklahoma Student Loan Authority, and the

Oklahoma Transportation Authority (formerly

Federal net operating loss:

Turnpike Authority) is exempt from Oklahoma

Enter that part of the carryover(s) included on the

income tax. The profit from the sale of such

Federal Form 1041 and also on the Federal amount

bond, note or other obligation shall be free from

column on this form.

taxation.

Oklahoma Amount column:

2) Income from local Oklahoma governmental

Enter the part of the “Federal Amount” column that

obligations issued after July 1, 2001, other than

represents Oklahoma source income.

those provided for in 1, is exempt from

Oklahoma income tax. The exceptions are

Line 13 - Interest on U.S. Obligations

those obligations issued for the purpose of

Federal Amount column:

providing financing for projects for nonprofit

If you report interest on bonds, notes and other obliga-

corporations. Local governmental obligations

tions of the U.S. on your Federal return, this income

shall include bonds or notes issued by, or on

may be excluded, if a detailed schedule is furnished,

behalf of, or for the benefit of Oklahoma

accompanied with 1099s showing the amount of interest

educational institutions, cities, towns, or

income and the name of the obligation from which the

counties or by public trusts of which any of the

interest is earned. If the interest is from a mutual fund

foregoing are beneficiary.

which invests in government obligations, enclose a

detailed schedule from the mutual fund showing the

3) Income from Oklahoma State and Municipal

Bonds issued prior to July 2, 2001, other than

amount of monies received from each government

obligation or the percentage of funds received from

those provided for in 1, is exempt from

each obligation. Interest from entities such as FNMA &

Oklahoma income tax only if so provided by the

GNMA and repurchase agreements does not qualify.

statute authorizing their issuance.

4) Income on bonds issued by another state or

Oklahoma Amount column:

political subdivision thereof (non-Oklahoma),

Enter that part of the “Federal Amount” column that

exempt from Federal taxation, is taxable for

represents U.S. Government interest included on line 1

Oklahoma income tax.

in the “Oklahoma Amount” column.

Enclose a schedule of all municipal interest received by

Line 14 - Other Year Net Operating Loss

source and amount. If the income is from a mutual fund

Oklahoma Amount column :

which invests in government obligations, enclose a

Enclose a detailed schedule showing origin and NOL

detailed schedule from the mutual fund showing the

computation. Also enclose a copy of any Federal NOL

amount of monies received from each government

computation.

obligation or the percentage of funds received from

each obligation.

Line 15 -

Note: If the interest is exempt, the capital gain/loss from the sale of

Additional Depletion

the bond may also be exempt. The gain/loss from sale of a state or

Federal Amount column:

municipal bond, other than those provided for in 1, is exempt only if

so provided by the statute authorizing its issuance.

Depletion on oil and gas well production, at the option of

the taxpayer, may be computed at 22% of gross income

Oklahoma Amount column:

derived from each property (regardless where located)

Enter that part of the “Federal Amount” column received

during the taxable year. Any depletion deduction

from a business, partnership or Sub-S Corporation

(continued on page 7)

doing business in Oklahoma.

Oklahoma Nonresident Fiduciary Income Tax Forms And Instructions - 2006 Page 6

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