Form 511 Nol - Nol Schedule A - Oklahoma Net Operating Loss Full Year Residents
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1
2Supplement to Form 511
Oklahoma Net Operating Loss
511nol
Full Year Residents Only
Revised 2000
NOL Schedule A
C
O
N
O
L
T
Y
OMPUTATION OF
KLAHOMA
ET
PERATING
OSS FOR
AX
EAR ______
1.
Oklahoma adjusted gross income from Form 511 or 511EZ:
1.
...................................
2.
Deductions
a. Enter amount from the N.O.L. Instructions: Computation of
2a.
Itemized Deductions or Oklahoma Standard Deduction if you did not itemize.
........
b. ENTER Adjustments to Oklahoma Adjusted Gross Income
(Examples: Military Pay Exclusion, Interest Exclusion, etc.)
2b.
.................................
c. Multiply $1,000 by the total number of
exemptions on your Form 511 or 511EZ.
2c.
.................................................................
(
)
d. Add lines 2a, 2b, and 2c.
2d.
...........................................................................................
3.
Combine lines 1 and 2d.
3.
...............................................................................................
Note: If line 3 is zero or more, do not complete remainder of schedule.
There is no net operating loss.
Adjustments: line 4 through 26 are entered as positive numbers.
..............................................
4.
4.
Exemptions from line 2c above.
5.
Enter Oklahoma nonbusiness capital losses (before limitation).
5.
6.
Enter Oklahoma nonbusiness capital gains.
(without regard to any Section 1202 exclusion)
6.
....................
7.
If line 5 is larger than line 6, enter difference;
otherwise enter zero.
................................................................
7.
8.
If line 6 is larger than line 5, enter difference;
8.
otherwise enter zero.
8.
...............................................................
9.
Oklahoma nonbusiness deductions.(i.e. included in line 2a
and 2b above, other Oklahoma nonbusiness deductions and
9.
nonbusiness adjustments on Federal return)
........................
10.
10.
Oklahoma nonbusiness income.(other than capital gains) ...
10.
11.
11.
Add lines 8 and 10.
...................................................................
12.
If line 9 is larger than line 11, enter difference;
12.
otherwise, enter zero.
...............................................................
13.
If line 11 is larger than line 9, enter difference (but do not
13.
enter more than line 8); otherwise, enter zero.
...................
14.
Enter business capital losses (before limitation).
14.
...................
15.
Enter business capital gains (without regard to any
Section 1202 exclusion).
15.
...........................................................
16.
Add lines 13 and 15.
16.
..................................................................
17.
If line 14 is larger than line 16 enter difference;
17.
otherwise, enter zero.
...............................................................
18.
18.
Add lines 7 and 17.
...................................................................
19.
Enter Net Oklahoma Loss, if any included in line 18
(1995 - 1997) or line 17(1998 - 2000) of Schedule D
19.
(Form 1040)
...............................................................................
20.
20.
Oklahoma Section 1202 exclusion
..........................................
21.
21.
Subtract line 20 from line 19. If zero or less, enter zero
.......
22.
Enter Net Oklahoma Loss, if any, included in line 19
22.
(1995 - 1997) or line 18 (1998 - 2000) of Schedule D (Form 1040).
23.
If line 21 is more than line 22, enter difference; otherwise
23.
enter zero.
.................................................................................
24.
If line 22 is more than line 21, enter difference; otherwise
enter zero.
.................................................................................
24.
25.
Subtract line 23 from line 18. If zero or less, enter zero.
25.
......
26.
Oklahoma Net operating loss from other years.
26.
....................
27.
Combine lines 3, 4, 12, 20, 24, 25 and 26. If more than zero
27.
enter zero. You do not have a Net Operating Loss...............
A copy of your Federal return is required.
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