BillM223
Expert Alumni

State tax filing

This was the answer for 2020; I believe this will address the same issue on 2021.

 

You evidently have capital gains from sales outside of Oklahoma. The way to handle this in the Oklahoma return is a bit confusing.

 

First, when you see the summary of Oklahoma Capital Gains and Losses, press Edit for each gain.

 

The next screen will read Oklahoma Capital Asset Location and Type for each sale. Check the box "This property does not qualify for exclusion". If you go to Form mode (if you are using the desktop software or have already paid for the Online product), you will see that the box in the far left column of form 561NR has been checked for that sale, indicating that you want to exclude a gain or loss (see form). 

 

This is completely counter-intuitive, but it gets you the result that you want, because it reports your Oklahoma gain as zero.

 

Alternatively, you can not check the box, but enter the federal ID number for the sale. Then, on the next screen, enter the Oklahoma gain as zero. This will achieve the same result - no gain reported in Oklahoma.

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