Form 511 - State Of Oklahoma Income Tax Return - 2001 Page 4
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1
2
3
4Name(s) shown on Form 511
Your Social
Security Number
Deductions and Exemptions
511
Schedule D
Computation Worksheet
If you have income from out-of-state, your exemptions and deductions must be prorated on the ratio of Oklahoma Adjusted Gross
Income to Federal Adjusted Gross Income reduced by allowable adjustments except out-of-state income.
00
Oklahoma standard deduction or Federal itemized deductions claimed . . . . . . . . . . . .
1
1
00
Exemptions ($1,000 x number of exemptions claimed at top of Form 511) . . . . . . . . . .
2
2
00
Total (add lines 1 and 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
3
Divide the amount on line 7 of Form 511 by the amount on line 3 of Form 511
4
•
•
%
Enter the percentage from the above calculation here . . . . . . . . . . . . . . . . . . . . . . . . . .
4
Total allowable deductions and exemptions (multiply line 3 by percentage on line 4,
5
5
00
enter total here and on line 12 of Form 511.
) . .
Leave lines 10 and 11 of Form 511 blank
Federal Income Tax Deduction
511
Schedule E
Computation Worksheet
Federal income taxes are deductible only to the extent they relate to income subject to taxation in Oklahoma. Federal income tax must
be prorated on the ratio of Oklahoma Adjusted Gross Income to the Federal Adjusted Gross Income.
00
2001 Federal income tax (amount paid, not amount withheld). . . . . . . . . . . . . . . . . . . . .
1
1
Divide the amount on line 7 of Form 511 by the amount on line 1 of Form 511
2
•
•
%
Enter the percentage from the above calculation here . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Allowable Federal income tax deduction (multiply line 1 by percentage on line 2,
3
00
enter total here and on line 15 of Form 511) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Child Care Credit
511
Schedule F
Computation Worksheet
If you are allowed a credit for child care expenses on your Federal return, you are allowed a credit against your Oklahoma tax equal to
20% of the credit for child care expenses allowed by the IRS code. The credit must be prorated on the ratio of Oklahoma AGI to
Federal AGI. Enclose a copy of Federal Form 2441 and page 2 of Form 1040 or Form 1040A, including Schedule 2.
Note: Do not use the Federal child tax credit when computing the Oklahoma child care credit. The Oklahoma child care credit is based
on a percentage of the Federal child care credit only.
00
Federal child care credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
1
00
Multiply line 1 by 20% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
2
Divide the amount on line 7 of Form 511 by the amount on line 1 of Form 511
3
•
•
%
3
Enter the percentage from the above calculation here . . . . . . . . . . . . . . . . . . . . . . . . . .
00
Oklahoma child care credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
4
(multiply line 2 by line 3, enter total here and on line 20 of Form 511)
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