Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 5 - OTHER ADJUSTMENTS TO INCOME › Section 710:50-15-50 - Deductions

Current through Vol. 41, No. 20, July 1, 2024
(a) In the event
				  federal itemized deductions are used on the federal return, federal itemized
				  deductions must be used on the Oklahoma return. Oklahoma itemized deductions to
				  income will be the same as federal itemized deductions, subject to the
				  limitations in (i) of this Section. In the event the standard deduction is used
				  on the federal return, the Oklahoma standard deduction must be used on the
				  Oklahoma return.
(b) For tax year
				  2005 and prior, the standard deduction for Oklahoma is the larger of $1,000.00
				  or 15% of Oklahoma Adjusted Gross Income not to exceed $2,000.00 (if married
				  filing separately, the larger of $500.00 or 15% not to exceed
				  $1,000.00).
(c) For tax year 2006,
				  taxpayers filing as married joint, head of household or surviving spouse will
				  have a standard deduction for Oklahoma of $3,000.00. Taxpayers filing as single
				  or married separate will have a standard deduction for Oklahoma of
				  $2,000.00.
(d) For tax year 2007,
				  taxpayers filing as married joint or surviving spouse will have a standard
				  deduction for Oklahoma of $5,500.00. Taxpayers filing as single or married
				  separate will have a standard deduction for Oklahoma of $2,750.00. Taxpayers
				  filing as head of household will have a standard deduction for Oklahoma of
				  $4,125.00.
(e) For tax year 2008,
				  taxpayers filing as married joint, or surviving spouse will have a standard
				  deduction for Oklahoma of $6,500.00. Taxpayers filing as single or married
				  separate will have a standard deduction for Oklahoma of $3,250.00. Taxpayers
				  filing as head of household will have a standard deduction for Oklahoma of
				  $4,875.00.
(f) For tax year 2009,
				  taxpayers filing as married joint, or surviving spouse will have a standard
				  deduction for Oklahoma of $8,500.00. Taxpayers filing as single or married
				  separate will have a standard deduction for Oklahoma of $4,250.00. Taxpayers
				  filing as head of household will have a standard deduction for Oklahoma of
				  $6,375.00.
(g) For tax year 2010
				  through tax year 2016, taxpayers will have a standard deduction for Oklahoma
				  equal to the standard deduction allowed by the Internal Revenue Code of 1986
				  based upon the amount and filing status prescribed by the Code for purposes of
				  filing federal individual income tax returns.
(h) For tax year 2017 and subsequent tax
				  years, taxpayers filing as married joint or qualifying widow will have a
				  standard deduction for Oklahoma of $12,700.00. Taxpayers filing as single or
				  married separate will have a standard deduction for Oklahoma of $6,350.00.
				  Taxpayers filing as head of household will have a standard deduction for
				  Oklahoma of $9,350.00.
(i) Oklahoma
				  itemized deductions to income will be the same as federal itemized deductions,
				  subject to the following limitations:
(1) For
				  tax year 2016 and subsequent tax years, taxpayers shall add back state and
				  local sales or income taxes which were allowed as an itemized deduction on the
				  federal income tax return.
(2) For
				  tax year 2017 and subsequent tax years, state and local sales or income taxes
				  which were not allowed as an Oklahoma itemized deduction but were required to
				  be recaptured on the federal income tax return will not be included in Oklahoma
				  taxable income.
(3) For tax year
				  2018 and subsequent tax years, Oklahoma itemized deductions may not exceed
				  $17,000.00 provided charitable contributions and medical expenses deductible
				  for federal income tax purposes are excluded from the $17,000.00
				  cap.