Get 2023 Form 511-tx Credit For Tax Paid To Another State

Filling out the 2023 Form 511-TX Credit For Tax Paid To Another State is an important step for taxpayers who are residents of Oklahoma and have paid taxes to another state. This guide provides clear, step-by-step instructions to assist users in completing the form online with ease.

Follow the steps to successfully complete your online form

1. Press the ‘Get Form’ button to access the form and open it in your preferred online editor.
2. Enter the name(s) as shown on Form 511 or Form 511-NR in the appropriate field.
3. Input the Social Security Number(s) in the designated area.
4. Indicate the amount of income for personal services taxed by both Oklahoma and the other state in Line 1.
5. In Line 2, provide your Oklahoma Adjusted Gross Income as reported on Form 511 or Form 511-NR.
6. Calculate the percentage limitation for Line 3 by dividing the amount entered in Line 1 by the amount in Line 2 (this cannot exceed 100%).
7. In Line 4, input the Oklahoma Income Tax amount from Form 511 or Form 511-NR.
8. Multiply the amount on Line 4 by the percentage from Line 3 and enter that value in Line 5 as the limitation amount.
9. In Line 6, specify the income tax paid to the other state that corresponds to the income reported in Line 1 (do not include withholding shown on W-2 forms).
10. In Line 7, calculate and provide the lesser amount between Line 5 and Line 6 and then transfer this amount to Form 511, line 16 or Form 511-NR, line 20.
11. Ensure to include a complete copy of the other state’s return and all relevant W-2 forms when submitting your Oklahoma return.
12. Review all entered information for accuracy, then save changes, download, print, or share your completed form as needed.

Complete your 2023 Form 511-TX online today to ensure you receive your credit for taxes paid to another state.