Form 511nr - Oklahoma Nonresident/ Part-Year Income Tax Return - 2012 Page 16
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42Schedule 511NR-A
The “Federal Amount” column is a summary of your Oklahoma allowable additions and subtractions from ALL SOURCES,
as though all income and deductions are from Oklahoma sources.
A2
A1
State and Municipal Bond Interest
Lump-Sum Distributions
Federal Amount column
Federal Amount column
If you received income on bonds issued by any state
Lump-sum distributions not included in the Federal Ad-
or political subdivision thereof, exempt from Federal
justed Gross Income shall be added to the Federal AGI.
taxation but not exempt from taxation by the laws of the
Rollovers and IRA conversions are taxed in the same
State of Oklahoma, the total of such income shall be
year as on the Federal return. Enclose a copy of Form
added to Federal Adjusted Gross Income.
1099, and complete copy of Federal return.
1) Income from all bonds, notes or other obligations
Note: The lump-sum distribution may qualify for the
issued by the State of Oklahoma, the Oklahoma
Schedule 511NR-B, line 6 “Other Retirement Income
Capital Improvement Authority, the Oklahoma
exclusion.” It must be received from a qualified plan and
Municipal Power Authority, the Oklahoma
satisfy the requirements of the Internal Revenue Code
Student Loan Authority, and the Oklahoma
as specified in the instructions for the exclusion.
Transportation Authority (formerly Turnpike
Authority) is exempt from Oklahoma income
Oklahoma Amount column
tax. The profit from the sale of such bond, note
Enter that part of the “Federal Amount” column that
or other obligation shall be free from Oklahoma
represents the lump-sum distribution received while a
taxation.
resident of Oklahoma.
2) Income from local Oklahoma governmental
obligations issued after July 1, 2001, other than
A3
Federal Net Operating Loss
those provided for in line 1, is exempt from
Enter carryover(s) included on Federal Form 1040 and
Oklahoma income tax. The exceptions are those
on Form 511NR, line 15. See the “Net Operating Loss”
obligations issued for the purpose of providing
section on pages 5 and 6.
financing for projects for nonprofit corporations.
Local governmental obligations shall include
A4
Recapture of Depletion and Add Back of
bonds or notes issued by, on behalf of, or for
Excess Federal Depletion
the benefit of Oklahoma educational institutions,
Federal Amount column
cities, towns, or counties or by public trusts of
Upon the expiration of the lease, depletion claimed must
which any of the foregoing is a beneficiary.
be restored to income in the case of non-producing
3) Income from Oklahoma State and Municipal
properties. Enter depletion claimed on a lease bonus
Bonds issued prior to July 2, 2001, other than
if no income was received from the property due to its
those provided for in line 1, is exempt from
lease expiration. A complete schedule by property must
Oklahoma income tax only if so provided by the
be furnished.
statute authorizing their issuance.
If the 22% Oklahoma option for computing depletion was
4) Income on bonds issued by another state or
used in a previous year and the 65% Federal depletion
political subdivision thereof (non-Oklahoma),
limitation applied in that year, you must add back any
exempt from Federal taxation, is taxable for
unused Federal depletion being carried over from such
Oklahoma income tax.
year and used in the current year’s Federal return. Ap-
Enclose a schedule of all municipal interest received by
plicable recapture is determined on a well-by-well basis.
source and amount. If the income is from a mutual fund
For the Oklahoma option for computing depletion see
which invests in state and local government obligations,
the instructions for Schedule 511NR-B, line 8. A com-
enclose documentation from the mutual fund to
plete schedule by property must be furnished
substantiate the percentage of income derived from
obligations exempt from Oklahoma tax.
Oklahoma Amount column
Enter that part of the “Federal Amount” column that repre-
Note: If the interest is exempt, the capital gain/(loss)
sents the recapture of depletion on Oklahoma properties.
from the sale of the bond may also be exempt. The
gain/(loss) from sale of a state or municipal bond, other
Enter that part of the “Federal Amount” column that
than those provided for in line 1, is exempt only if so
represents the add back of excess Federal depletion on
provided by the statute authorizing its issuance. Enter
Oklahoma properties.
exempt gains on Schedule 511NR-B, line 11 and exempt
losses on Schedule 511NR-A, line 7.
Oklahoma Amount column
Enter that part of the “Federal Amount” column received
while a resident of Oklahoma.
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