I am a resident of Virginia and own land in Oklahoma which I rent to a farmer. When using Turbo Tax Premier, this year for some odd reason I can't figure out, Turbo has added form 561NR to my taxes for oklahoma. It adds one of my federal capital gains which is a long term capital gain of just under 2 years to my Oklahoma taxes with a form 561NR. It should not be adding this capital gain to my OK taxes, it has nothing to do with OK. If I put 0 for amount attributable to OK , then in the review it brings up a pull down menu of 5 options for type of sale sold. All the options are "in OK" based options for sale of stock of an OK company or property. I cant choose one of these. The company stock I sold is not even based in OK . I tried to go into forms and i deleted the form 561NR and switched back to step-by-step and it puts it back in. Help!!!!!
How did you enter the trade that generated the long term capital gain? Something with that entry has triggered the 561NR. You need to go back to that source transaction and delete it and then manually re-enter it. Whatever is causing the form to pop up should disappear then.
while waiting for your response, I deleted the import of that account and entered it manually. Turbo still generated the same 561NR form. I googled and found past couple years in the turbo tax community other people had the same form generate for OK taxes like it is a glitch in the turbo tax. BillM223 answered on February 17, 2021 to check off the box "This property does not qualify for exclusion" so that it will report the oklahoma gain column as 0. Very strange situation that the system picks out a long term gain and causes a form for OK that is not necessary. This form and glitch wasted so much time and caused a lot of stress. Thank you.