Oklahoma Form 511Tx PDF Details

Understanding the intricacies of the Oklahoma 511Tx form is essential for residents and part-year residents who have earned income in another state and are navigating their state income tax obligations. The form, officially titled "Credit for Tax Paid to Another State," serves as a mechanism for taxpayers to avoid double taxation on the same income. It specifically addresses income from personal services performed outside Oklahoma, which might also be taxed by the other state where the income was earned. The eligibility criteria clearly differentiate between residents, part-year residents, and nonresidents, ensuring that only those who have faced taxation on the same income in both Oklahoma and another state can benefit from this credit. Importantly, the form requires detailed documentation, including a complete copy of the other state's tax return and all relevant W-2 forms, to substantiate the claim for credit. It also introduces a formula to calculate the exact credit amount, which takes into account the Oklahoma adjusted gross income, the percentage limitation, and the specific income tax paid to the other state on the earnings from personal services. With straightforward examples provided within the instructions, taxpayers are guided on how to accurately report their income and calculate the tax credit, ensuring compliance and potentially reducing their overall tax burden.

QuestionAnswer
Form NameOklahoma Form 511Tx
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other names511TX 10 form 511

Form Preview Example

State of Oklahoma

CREDIT FOR TAX PAID TO

Name(s) - as shown on Form 511 or Form 511NR

 

 

FORM

511TX

10

ANOTHER STATE

 

 

2

 

 

 

 

 

 

0

 

Social Security Number(s)

 

 

 

 

 

 

 

 

 

 

If taxes were paid to more than one state, a separate 511TX must be provided for each state and a complete copy of the other state’s return, including W-2s, must be enclosed.

WHO QUALIFIES?

A resident taxpayer who receives income for personal services performed in another state must report the full amount of such income on the Oklahoma return (Form 511). If another state taxes this income, the resident may qualify for this credit.

A part-year resident who receives income from personal services performed in another state while an Oklahoma resi- dent must report the full amount of such income in the “Oklahoma Amount” column of Form 511NR. If another state taxes this income, the part-year resident may qualify for this credit.

WHO DOES NOT QUALIFY?

A nonresident taxpayer does not qualify for this credit.

A taxpayer who has claimed credit for taxes paid to another state on the other state’s income tax return does not qualify to claim this credit based on the same income.

 

 

 

 

 

 

 

 

1

Income for personal services taxed by both the other state and also Oklahoma....

1

 

 

 

 

 

 

Oklahoma Adjusted Gross Income

 

 

 

 

 

 

2

2

 

 

 

 

 

(Form 511, line 7 or Form 511NR, line 23)

 

 

 

 

 

 

 

 

 

 

 

 

 

3

Percentage Limitation (divide line 1 by line 2) (cannot exceed 100%)

 

 

 

3

 

%

 

 

 

 

 

4

Oklahoma Income Tax (Form 511, line 14 or Form 511NR, line 36) (not amount withheld)

4

 

 

 

 

 

 

 

 

 

 

5

Limitation Amount (multiply line 4 by line 3)

 

 

 

5

 

 

 

 

 

 

 

6

Income Tax paid to __________________(Include only the amount of the tax paid to another state

 

 

 

 

which is attributable to the income from personal services reported on line 1. See example on back.

 

 

 

 

Do not use the withholding shown on your W-2 forms)

 

 

 

6

 

 

 

Other state tax credit: enter the lesser of line 5 or line 6 here and on Form 511,

 

 

 

 

 

 

7

 

 

 

7

 

 

line 16 or Form 511NR, line 37

 

 

 

 

 

 

 

 

 

 

 

 

 

Enclose a complete copy of:

•the other state’s return, including W-2s, or

•Form W-2G if the taxing state (i.e. Mississippi) does not allow a return to be filed for gambling winnings.

FORM 511TX - CREDIT FOR TAX PAID TO ANOTHER STATE

TITLE 68 O.S. SECTION 2357(B)(1) AND RULE 710:50-15-72

INSTRUCTIONS

This schedule, a complete copy of the other state’s tax return and copies of all W-2 forms must be enclosed with the Okla-

homa return. If the taxing state (i.e. Mississippi) does not allow a return to be filed for gambling winnings, enclose a copy of Form W-2G.

Line 1

Include only the amount of wages, salaries, commissions and other pay for personal services which is being taxed by Oklahoma and also the other state. Gambling winnings are considered income from personal services for purposes of this credit. Part-Year Residents include only the income for personal services which is included in the “Oklahoma Amount” column of Form 511NR and which was also taxed by another state.

Example 1. John is an Oklahoma resident, filing Form 511. He worked and owned rental property in an- other state. The other state’s return shows wages of $20,000 and rental income of $10,000. Line 1 would be $20,000, the amount of income from personal services included in his Okla- homa adjusted gross income and taxed by another state.

Example 2. Beth is a part-year resident of Oklahoma, filing Form 511NR. She lived in Oklahoma until the end of September and on October 1 she moved to another state. She worked all year in the other state. Beth earned a salary of $30,000 for the year, $22,500 while she lived in Okla- homa and $7,500 while she lived in the other state. She also earned $10,000 rental income from farmland located in Oklahoma. Line 1 would be $22,500, the amount of personal service income included in the “Oklahoma Amount” column and taxed by another state. The $7,500 she earned while a nonresident of Oklahoma, is not taxed by Oklahoma.

Line 6

Include only the amount of the tax paid to another state which is attributable to the income from personal services reported on line 1. Do not use the withholding shown on your W-2 forms.

Example: personal services (from line 1) total income from another state

Xtotal tax paid to another state = tax paid to another state (not withholding tax)

Example 1. Bill is an Oklahoma resident, filing Form 511. The other state’s return shows $5,000 in wages,

$7,000 in rental income from the other state, and $8,000 from the sale of a house located in the other state. The other state’s total tax liability is $546. Since only the $5,000 in wages is income from personal services subject to tax in both states, line 6 would be computed as fol-

lows:

$5,000 X $546 = $137

 

$20,000

Example 2. (continued from Line 1, Example 2 above)

The other state taxed all of Beth’s wage income; however, only the portion she earned while an Oklahoma resident was taxed by both states (see line 1). Her other state’s total tax liability was $754. Beth determines the portion of the other state’s tax that is attributable to the por- tion of her wage income which is being taxed in both states as follows:

$22,500 X $754 = $566 $30,000

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1. Complete the Oklahoma Form 511Tx with a selection of major blanks. Consider all of the required information and ensure not a single thing neglected!

Tips to complete Oklahoma Form 511Tx step 1

2. The subsequent step is usually to fill out the following fields: Income for personal services taxed, Oklahoma Adjusted Gross Income, Percentage Limitation divide line, Oklahoma Income Tax Form line or, Limitation Amount multiply line, Income Tax paid to Include only, Other state tax credit enter the, Enclose a complete copy of, the other states return including, and gambling winnings.

Oklahoma Form 511Tx completion process outlined (part 2)

Always be really careful while completing Percentage Limitation divide line and gambling winnings, since this is the section where a lot of people make errors.

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