Losses from the sale of exempt government obligations: Enter exempt capital gains/(losses) from the sale of an US Government Obligation
Swine/Poultry Producer who used accelerated depreciation: Enter the difference in depreciation from your Oklahoma return to your Federal return. If you have taken the full depreciation on prior year returns, enter the entire Federal depreciation amount to avoid duplicate depreciation.
Oklahoma Refinery elected to expense the cost of property: Partners and Shareholders of Oklahoma refinery ventures, enter the Federal depreciation expense for qualified refinery property that has been fully depreciated, for Oklahoma purposes, on a prior year return.
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.
Discharge of Indebtedness: Enter the difference from the discharge of indebtedness amount reported to you for the current tax year and the amount included on your Federal return if you elected to defer the balance over the next 5 consecutive Federal returns. You will be given the opportunity during those 5 years to subtract the included deferred income from you Oklahoma return.