511-CR: 2024 Form 511-CR Other Credits Form (2024)
Oklahoma · Oklahoma Tax Commission · Used for tax years 2024
Oklahoma Form 511-CR reports other tax credits claimed with your 2024 Oklahoma tax return. It lists unused credits carried over from prior years, credits established during the current tax year, and total available credits.
Who files this form
Use 2024 Form 511-CR to claim the other Oklahoma tax credits listed on the form, including eligible unused credits carried over from prior years. Provide it and supporting documents with your Oklahoma tax return.
The form covers credits for qualifying individuals, employers, businesses, investments and contributions. Each credit has its own qualifications.
If you are a member of a non-electing pass-through entity (PTE), enter your share of its credit on the line for that credit type.
What you'll need
Provide Form 511-CR and the supporting documents required for the credits you claim.
Credit-specific forms
- Investment/New Jobs Credit: Form 506.
- Clean-burning motor vehicle fuel property: Form 567-A.
- Small Business Guaranty Fee Credit: Form 529.
- Qualified software or cybersecurity employees: Form 566.
- Caring for Caregivers Tax Credit: Form 592 and supporting documents.
- Volunteer Firefighter Credit: completed FTAC form with all required signatures.
- Aerospace employees or employers: Form 564 or Form 565, respectively.
- Venture capital investment: Form 518-A or 518-B.
- Vehicle manufacturing employees or employers: Form 584 or Form 585, respectively.
Other required supporting documents
- Transferred or allocated credits: report them on Form 569.
- Transferred rehabilitation credits: Form 572 transfer agreement and an Oklahoma Tax Commission (OTC) acknowledgment of credits earned.
- Zero-emission electricity credits: a schedule of electricity generated in kilowatt-hours for each month and the credit calculation. A transferee provides the transfer agreement and OTC acknowledgment instead.
- Railroad modernization: Department of Transportation affidavit, or, for a transferee, the transfer agreement and OTC acknowledgment.
- Biomedical or cancer research contributions: a copy of the canceled check or receipt.
- Oklahoma Capital Investment Board credit: the board's Tax Credit Certificate.
- Affordable housing credit: an eligibility statement from the Oklahoma Housing Finance Agency.
- Claims for the 75% contribution credit for a scholarship-granting organization, educational improvement grant organization, eligible public school foundation or public school district: evidence of the written commitment to contribute the same amount for an additional year.
How to file
Provide Form 511-CR and supporting documents with your Oklahoma income tax return. The form says not to mail pages 3 through 7 with your return.
- Enter your name as shown on your return and your Social Security number or Federal Employer Identification Number.
- In Column A, enter unused carryover credits established in prior tax years that have not been used.
- In Column B, enter credits established during the current tax year. This includes eligible transferred credits and subsequent-year claims for credits that may be claimed over multiple years.
- Add Columns A and B to get Column C, the total available credit.
- Complete the applicable credit lines, checkboxes and supporting forms.
- Add lines 1a through 27 and enter the total on line 28. Transfer the total to the applicable line of your income tax return. Enter the credit-type number in the box, or enter 99 if claiming more than one credit.
Common mistakes
- Leaving out Form 569 for transferred or allocated credits. The form warns that the affected credits will be denied if Form 569 is not filed.
- Omitting supporting documents. Form 511-CR must be provided with the required supporting documents and your Oklahoma return.
- Mailing information pages that should be left out. The printed reminder says not to mail pages 3 through 7 with your income tax return.
- Putting a PTE credit on the wrong line. Members of non-electing PTEs must report their share on the line for that credit type.
- Submitting an incomplete firefighter form. The FTAC form must be completed and have all necessary signatures.
- Missing the multiple-credit code. Enter 99 in the credit-type box on your income tax return if you claim more than one credit.
Questions people ask
Where do I enter unused credits from earlier years?
Enter unused carryover credits established in prior tax years in Column A. Do not include credits already used in a prior year.
Does Column B include only credits first earned in 2024?
No. It also includes a credit transferred to you on a filed Form 572 that may be claimed this year, and subsequent-year claims for credits that may be claimed over multiple years, such as the Investment/New Jobs Credit.
What if I claim more than one credit?
Add the applicable credits on line 28, enter the total on the applicable income tax return line, and enter 99 in the credit-type box.
Can I check both Investment Credit and New Jobs Credit on line 1b?
Yes. If credits flow from multiple Forms 506 and include both investment and new jobs credits, check both boxes.
How do I get the Volunteer Firefighter Credit supporting form?
Contact the Firefighter Training Advisory Committee at 405.522.5015 for a form, questions or further explanations. Provide the completed form with all necessary signatures.