Supported Forms

The following Oklahoma forms are supported in Drake Tax 2024. Forms denoted with can be e-signed.

Form	Description	IND	CRP	SCRP	PTR	FID
200-F	Franchise Election Form		t	t	t
500-B	Report of Nonresident Member Income Tax Withheld	t	t	t	t	t
501	Annual Information Return			t	t	t
504-C	Application for Extension of Time to File an Oklahoma Income Tax Return for Corporations, Partnerships, and Fiduciaries		t	t	t	t
504-I	Application for Extension of Time to File an Oklahoma Income Tax Return for Individuals	t
506	Investment/New Jobs Credit	t	t	t	t	t
507	Statement of Person Claiming an Income Tax Refund Due a Deceased Taxpayer	t
511	Oklahoma Resident Income Tax Return	t
511CR	Other Credits Form	t	t	t	t	t
511-EF	Oklahoma Individual Income Tax Declaration for Electronic Filing	t
511-EIC	Oklahoma Earned Income Credit Worksheet	t
511-NR	Oklahoma Nonresident/Part-Year Income Tax Return	t
511TX	Credit for Tax Paid to Another State	t
511-V	Individual Income Tax Payment Voucher	t
511-W	Individual W-2 Data Sheet	t
512	Corporation Income and Franchise Tax Return		t
512-S	Oklahoma Small Business Corporation Income and Franchise Tax Return			t
512-SA	Nonresident Shareholder Agreement			t
512-S-SUP	Supplemental Schedule for Form 512-S, Part 5			t
512-TI	Computation of Oklahoma Consolidated Taxable Income		t
512-TI-SUP	Supplemental Schedule for Form 512-TI		t
513	Oklahoma Resident Fiduciary Return of Income					t
513-NR	Oklahoma Nonresident Fiduciary Return of Income					t
514	Oklahoma Partnership Income Tax Return				t
514-PT	Oklahoma Partnership Composite Income Tax Supplement				t
514-PT-SUP	Supplemental Schedule for Form 514-PT			t	t
514-SUP	Schedule for Form 514, Part 5				t
538-H	Claim for Credit or Refund of Property Tax	t
538-S	Claim for Credit/Refund of Sales Tax	t
561	Oklahoma Capital Gain Deduction for Residents Filing Form 511	t
561-C	Oklahoma Capital Gain Deduction for Corporations Filing Form 512		t
561-F	Oklahoma Capital Gain Deduction for Trusts and Estates Filing Form 513					t
561-NR	Oklahoma Capital Gain Deduction for Part-Year and Nonresidents Filing Form 511NR	t
561NR-F	Capital Gain Deduction for Trusts and Estates Filing Form 513-NR					t
561-P	Oklahoma Capital Gain Deduction for the Nonresident Partner Included in the Composite Return				t
561-PTE	Oklahoma Capital Gain Deduction for an Electing Pass-Through Entity (PTE) Filing Form 587-PTE			t	t
561-S	Oklahoma Capital Gain Deduction for the Nonresident Shareholder Whose Income is Reported on Form 512-S, Part 1			t
564	Credit for Employees in the Aerospace Sector	t
566	Credit for Qualified Software or Cybersecurity Employees	t
567-A	Credit for Investment in Clean-Burning Motor Vehicle Fuel Property	t	t	t	t	t
573	Farm Income Averaging	t
576	Natural Disaster Tax Credit	t
578	Refundable Credit for Electricity Generated by Zero-Emission Facilities	t	t	t	t	t
584	Credit for Employees in the Vehicle Manufacturing Industry	t
586	Pass-Through Entity Election Form			t	t
587-PTE	Oklahoma Pass-Through Entity Tax Supplement			t	t
587-PTE-SUP	Supplemental Schedule for 587-PTE			t	t
588	Oklahoma First-Time Homebuyer Savings Account – Account Holder and Designated Beneficiary Form	t
BT-129	Power of Attorney	t	t	t	t	t
EF	Oklahoma Income Tax Declaration for Electronic Filing		t	t	t	t
EF-PTE	Pass-Through Entity Payment Voucher			t	t
EF-V	Business Filers Income Tax Payment Voucher		t	t	t	t
FRX 200	Oklahoma Annual Franchise Tax Return		t	t	t
OK4562	Depreciation and Amortization				t
OW-8-ES	Oklahoma Individual Estimated Tax Coupon	t
OW-8-ESC	Oklahoma Corporate, Fiduciary and Partnership Estimated Tax Coupon		t	t	t	t
OW-8-P	Underpayment of Estimated Tax Worksheet	t	t	t		t
Schedule K-1 (512-S)	Shareholder’s Share of Income, Deductions, Credits, etc.			t
Schedule K-1 (514)	Partner’s Share of Income, Deductions, Credits, etc.				t
WTP 10003	Oklahoma Nonresident Distributed Income Withholding Tax Annual Return			t	t	t

Tax Law Changes

• Form 511, Oklahoma Resident Income Tax Return

  • The Parental Choice Tax Credit for Homeschool Expenses (Form 591-D) has been added for tax year 2024

• Form 511-CR, Other Credits

  • The Caring for Caregivers Credit (Form 592) has been added for tax year 2024

  • The Credit for Qualified Clean-Burning Motor Vehicle Fuel Property has been expanded to include electric vehicles (Form 567-A)