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Does Oklahoma Tax all of my retirement income?

Other Retirement Income..

Each individual may exclude their retirement benefits, up to $10,000, but not to exceed the amount included in the Federal Adjusted Gross Income. For any individual who claims the exclusions for government retirees on Schedule 511-A, line 5, the amount of the exclusion cannot exceed $10,000 minus the amounts already claimed on Schedule 511-A, line 5 (if less than zero, enter zero).

The retirement benefits must be received from the following and satisfy the requirements of the Internal Revenue Code (IRC): an employee pension benefit plan under IRC section 401, an eligible deferred compensation plan under IRC section 457, an individual retirement account, annuity or trust or simplified employee pension under IRC section 408, an employee annuity under IRC section 403 (a) or (b), United
States Retirement Bonds under IRC section 86, or lump-sum distributions from a retirement plan under IRC section 402 (e). Enclose a copy of Form 1099-R or other documentation.

Please see either Schedule 511-A in the Oklahoma Resident Packet 511 or Schedule 511NR-B in the Oklahoma Nonresident/Part-Year Resident Packet 511NR.

Tax year 2009 and prior - To qualify for the exclusion, your income must be less than the modified AGI limit. For information regarding the modified AGI limit see the worksheet in either Packet 511 or Packet 511NR for the tax year you are filing. There is no longer a modified AGI limit beginning with tax year 2010.


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