Below is a list of income that needs to be added to your Oklahoma return. Oklahoma Additions to income are reported on Schedule 511-B.
State and Municipal Bond Interest
Income on bonds issued by a state or political subdivision that are not taxable on the federal return but are taxable to Oklahoma.
Losses from an out-of-state business, or rental/sale of out-of-state property must be added back to Federal Adjusted Gross Income on the Oklahoma return.
Add back lump-sum distributions that are not included in the federal adjusted gross income amount.
Federal Net Operating Loss
Enter carryover(s) included on Federal Form 1040.
Recapture of Depletion Claimed on a Lease Bonus or Add Back of Excess Federal Depletion
Depletion claimed must be added back in the property was non-producing. See the instructions for further details and instructions for calculating the amount to enter.
Recapture of Contributions to Oklahoma 529 College Savings Plan and OklahomaDream 529 Accounts
If a contribution rollover is taken within one year of the contribution date, and a deduction was taken on the previous year's return, the amount of the rollover should be included in income.
If a non-qualified withdrawal of contributions was made for any year 2005 or later and a deduction was claimed in that year, the non-qualified withdrawal and its earnings would be included in income.
Miscellaneous Other Oklahoma Additions
- Losses from the sale of exempt government obligations
- Swine/Poultry that deducted accelerated depreciation
- OK Refinery elected to expense the cost of property
- Pass Through Entity (PTE) add-back rent expenses or captive REIT
- Any additions not previously claimed - Provide a statement of explanation
For additional information, see Oklahoma Instructions.