587-PTE-SUP: 2024 Form 587-PTE-SUP Supplemental Schedule for Form 587-PTE (2024)
Oklahoma · Oklahoma Tax Commission · Used for tax years 2024
Form 587-PTE-SUP is Oklahoma’s supplemental schedule for Form 587-PTE for 2024. It lists members’ identification numbers, Oklahoma distributive income, capital gain deductions and net Oklahoma distributive income, with separate sections for different member types and tax rates.
Who files this form
Form 587-PTE-SUP is a supplemental schedule for Form 587-PTE in an electing pass-through entity (PTE) return.
It has separate parts for members who are individuals, trusts or estates, and members who are corporations, S corporations or partnerships. The form does not state when a PTE is required to use this supplemental schedule.
What you'll need
Have these forms and details available to complete the schedule:
- Form 587-PTE, which this schedule supplements.
- The name shown on the return and the entity’s FEIN.
- Each listed member’s FEIN or SSN.
- Oklahoma distributive income from Form 514 or Form 512-S.
- Form 561-PTE and each member’s ownership percentage to calculate the Oklahoma capital gain deduction.
How to file
If filing a paper return, place all Forms 587-PTE-SUP immediately after Form 587-PTE.
Use the “Page ___ of ___” fields to show each supplemental form’s position and the total number included. For example, if you include five Forms 587-PTE-SUP, enter “2 of 5” on the second one.
The supplied form does not provide a mailing address or e-filing directions.
Common mistakes
- Do not place Forms 587-PTE-SUP elsewhere in a paper return. The form says to place them immediately after Form 587-PTE.
- Do not leave out the supplemental-form count. Complete the “Page ___ of ___” fields to show how many Forms 587-PTE-SUP are included.
Questions people ask
Which members belong in Part 1?
Part 1 is for members who are individuals, trusts or estates. Its heading specifies a 4.75% tax rate.
Which members belong in Part 2?
Part 2 is for members who are corporations, S corporations or partnerships. Its heading specifies a 4% tax rate.
Where does the income amount in Column B come from?
Column B asks for Oklahoma distributive income from Form 514 or Form 512-S.
How do I calculate the deduction in Column C?
The form labels Column C as the Oklahoma capital gain deduction from Form 561-PTE multiplied by the member’s ownership percentage.
How do I calculate net Oklahoma distributive income?
Subtract Column C from Column B and enter the result in Column D.