The Other Additions on the Oklahoma return are:
Losses from the Sale of Exempt Government Obligations:
Enter losses from the sale of exempt government obligations.
Swine/Poultry Producer who used Accelerated Depreciation:
If you are a swine or poultry producer who has deducted depreciation on an accelerated basis on your Oklahoma tax return in previous tax years (Schedule 511-C), the asset may be fully depreciated for Oklahoma purposes. Any depreciation deducted on this year’s federal return, after the date the asset has been fully depreciated on your Oklahoma return, must be added back to avoid a duplication of depreciation.
Oklahoma Refinery Elected to Expense the Cost of Property:
If a qualified Oklahoma refinery, of which you are a partner or shareholder, elected to expense the cost of qualified refinery property, such property is fully depreciated for Oklahoma purposes. For Oklahoma purposes, no depreciation expense can be taken for this tax year on such property. Enter your pro rata share of such depreciation.
Pass-through Entity (PTE) Add-back Rent Expenses or Captive Real Estate Investment Trust:
Enter the add-back amount if you were a PTE member that:
- Was required to add-back rents and interest expenses paid to a captive real estate investment trust when determining Oklahoma distributable income; or
- Was a captive real estate trust that was required to add-back the dividends-paid deduction when determining Oklahoma distributable income.
Any Additions not Previously Claimed:
Enter any additions not previously claimed. Provide a statement of explanation specifying the type of addition and Oklahoma Statute authorizing the addition, and verifying documents.
Note: This statement cannot be attached to the return electronically, so you will need to print, sign, and mail your return to include the statement.
Where do I enter this in the program?
To make an entry for any of these additions, go to:
- State Section
- Edit Oklahoma state return
- Additions to Income
- Miscellaneous Other Additions