Form 561nr-F - Capital Gain Deduction For Trusts And Estates - 2015 Page 3
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32015 Form 561NR-F - Page 3
Oklahoma Capital Gain Deduction for Trusts and Estates Filing Form 513NR
68 OS Sec. 2358 and Rule 710:50-15-48
Specific Instructions
Complete this form using the Capital Gains and Losses from the Federal Schedule D that have not been distrib-
uted to the beneficiary(ies). Do not include any portion of the capital gain or loss included in the income distribution
deduction on Form 513NR. The beneficiary will compute the capital gain deduction on their own income tax return.
Line 1: List qualifying Oklahoma capital gains and losses from the Federal Form(s) 8949, Part II or from Federal Schedule
D, line 8a. Enclose a copy of Form(s) 1099-B if the qualifying Oklahoma capital gain or loss is reported on Federal Sched-
ule D, line 8a. In Column A, line A1 enter the description of the property as shown on Federal Form 8949, Column a or on
Form 1099-B. On line A2 enter either the Oklahoma location/address of the real or tangible personal property sold or the
Federal Identification Number of the company, limited liability company or partnership whose stock or ownership inter-
est was sold. Complete Columns B through E using the information from the corresponding columns of the Federal Form
8949, Columns b through g or from Form 1099-B. In Column B, enter the date the property was acquired. If you entered
“VARIOUS” or “INHERITED” on your federal form, enter the date you actually acquired the property. In Column F enter
the portion of the capital gain or loss included on Form 513NR, Column A, line 4 but not included in the income distribution
deduction on line 16. In Column G enter the portion of the qualifying Oklahoma capital gain or loss reported in Column F
which was sourced to Oklahoma on Form 513NR, Column B, line 4 but not included in the income distribution deduction on
line 16. Do not include gains and losses reported on Form 561NR-F lines 2 through 5.
Line 2: If Federal Form 6252 was used to report the installment method for gain on the sale of eligible property on the
Federal return, in Column F compute the capital gain deduction using the current year’s taxable portion of the installment
payment included on Form 513NR, Column A, line 4 but not included in the income distribution deduction on line 16. In
Column G enter the portion of the capital gain reported in Column F which was sourced to Oklahoma on Form 513NR,
Column B, line 4 but not included in the income distribution deduction on line 16. Enclose Federal Form 6252. Capital gain
from an installment sale is eligible for the Oklahoma capital gain deduction provided the property was held for the appro-
priate holding period as of the date sold.
Line 3: In Column F enter other qualifying Oklahoma capital gains and losses reported on Federal Schedule D, line 11
included on Form 513NR, Column A, line 4 but not included in the income distribution deduction on line 16. In Column G
enter the portion of the capital gains or losses reported in Column F which was sourced to Oklahoma on Form 513NR,
Column B, line 4 but not included in the income distribution deduction on line 16. Enclose the applicable Federal form(s).
If not shown on the Federal form, enclose a schedule identifying the type and location of the property sold, the date of the
sale, and the date the property was acquired.
Line 4: In Column F enter qualifying Oklahoma net capital gain or loss from partnerships, S corporations, and other trusts
or estates included on Form 513NR, Column A, line 4 but not included in the income distribution deduction on line 16. In
Column G enter the portion of the net capital gain or loss reported in Column F which was sourced to Oklahoma on Form
513NR, Column B, line 4 but not included in the income distribution deduction on line 16. Complete the worksheet on
page 2 and enclose a copy of the Federal Schedule K-1.
Line 5: In Column F enter the qualifying Oklahoma net capital gain from the Federal Form 4797, reported on Federal
Schedule D included on Form 513NR, Column A, line 4 but not included in the income distribution deduction on line 16. In
Column G enter the portion of the net capital gain reported in Column F which was sourced to Oklahoma on Form 513NR,
Column B, line 4 but not included in the income distribution deduction on line 16. Enclose a copy of the Federal Form
4797. If reporting a gain/loss from a Federal Schedule K-1, complete the worksheet on page 2 and enclose a copy of the
Federal Schedule K-1.
Line 7: In Column F enter the total qualifying Oklahoma capital loss carryover from the prior year’s return included on
Form 513NR, Column A, line 4 but not included in the income distribution deduction on line 16. In Column G enter the por-
tion of the capital loss reported in Column F which was sourced to Oklahoma on Form 513NR, Column B, line 4 but not
included in the income distribution deduction on line 16.
Line 9: In Column F the Oklahoma capital gain deduction may not exceed the portion of the net capital gain included on
Form 513NR, Column A, line 4 but not included in the income distribution deduction on line 16. In Column G the Okla-
homa capital gain deduction may not exceed the portion of the net capital gain included on Form 513NR, Column B, line
4 but not included in the income distribution deduction on line 16. The term “net capital gain” means the excess of the net
long-term capital gain for the taxable year over the net short-term capital loss for such year. If there is a net capital loss,
enter zero.
Line 10: In Column F compare lines 8 and 9; enter the smaller amount here and on Form 513NR, Federal Amount col-
umn, line 15. In Column G compare lines 8 and 9; enter the smaller amount here and on Form 513NR, Oklahoma Amount
column, line 15.
Note: Do not enter any portion of the Oklahoma Capital Gain Deduction on Part 2 “Beneficiaries’ Share of Income and Deductions”.
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