Tulsa, OK asked in Tax Law for Oklahoma

Q: What is the Oklahoma Statute that exempts gains from the sale of out-of-state real property from Oklahoma taxation?

Oklahoma 2021 tax return Form 511 instructions states:

"An Oklahoma resident individual is taxed on all income reported on the federal return, except...the gains/losses from the sales or exchange of real property in another state."

What is the specific Oklahoma Statute that addresses this?

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1 Lawyer Answer
Charles Watts
Charles Watts
  • Tax Law Lawyer
  • Licensed in Oklahoma

A: When dealing with taxes I encourage you to contact a tax law attorney- however if you still desire the information you may start looking at 68 O.S. § 2358 (OSCN 2022)

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