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?
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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