Fill - Free fillable Form 45499 45499 Untitled (Oklahoma) PDF form

Estate Tax Packet (Form 454)

Revised April 2011

Oklahoma

Estate Tax

Return

Oklahoma Tax Commission

2501 North Lincoln Boulevard

Oklahoma City, Oklahoma 73194-0010

Estate

Need Assistance or

Additional Information?

Check out our contact

listings on the back

of this packet.

A Message from the Oklahoma Tax Commission

Dear Oklahoma Estate Tax Filer,

This Oklahoma Estate Tax Return packet contains the Estate Tax Return (Form 454) along with the

breakout schedules for each estate element. Below is a list of the schedules provided within this

packet:

Schedule A-1: Real Estate

Schedule A-2: Oil, Gas and Minerals

Schedule B: Stocks and Bonds

Schedule C-1: Intangible Personal Property

Schedule C-2: Tangible Personal Property and Miscellaneous Property

Schedule D: Life Insurance

Schedule E: Transfer During Lifetime

Schedule F: Property Not Taxable in Oklahoma

Schedule G: Debts, Mortgages, and Taxes Due and Unpaid at Death

Schedule H-1: Administration and Funeral Expenses

Schedule H-2: Bequests: Charitable, Religious, and Educational

Schedule I-1: Property Passing to Surviving Spouse

Schedule I-2: Part 2 of Schedule I-1

Schedule J: Distribution

In addition, this packet offers tax tables and Form 4-PTP “Computation of Credit for Tax on Prior

Transfers”.

Once completed, please mail to:

Oklahoma Tax Commission

Estate Tax

2501 North Lincoln Boulevard

Oklahoma City, Oklahoma 73194

The Oklahoma Tax Commission offers assistance in completing these forms. To contact someone for

assistance with an estate tax question or filing issue, please call (405) 521-3237 and ask to speak

with the “Auditor of the Day.” If you have any other tax questions, please refer to the phone listings

below:

Oklahoma Tax Commission

Taxpayer Assistance (405) 521-3160

In-State Toll Free (800) 522-8165, extension 13160

Sincerely,

Oklahoma Tax Commission

Decedent’s full name:

Date of birth:

Age:

Occupation:

Residence at death:

Social Security Number: (Returns will not be accepted without SSN)

Domicile: Year established:

Probate Number:

Probate in County

Resident of County

Date ____________

No Tax __________

FA _____________

OA _____________

Crossfile ________

________________

Work With _______

________________

Order ___________

Auth ___________

Post ____________

(This space for use by OTC)

Was any disclaimer filed in this estate? (If yes, submit documentation)

_______________________________________________________________________________________

Does this estate contain any real property? Yes No

Did decedent own any interest in a closely

held corporation, partnership, or sole Yes No

proprietorship?

Marital status: Married Single

Name of spouse:

______________________________________________

Divorced__________ Date of decree_________

Widowed_________ DOD_________________

Testate Intestate Trust

If decedent died testate submit copy of will and/or trust instrument.

Date of death: ____________________________________________

Date of valuation - Check one

Date of death Alternate value

(6 months after DOD)__________________

(Attach copy of death certificate)

Amount paid with return: $_______________________________

Under penalties of perjury, I declare that I, the undersigned personal representative, (or other) ____________________________________________

have examined this return, including accompanying statements and to the best of my knowledge and belief it is true.

Date:______________________________ Social Security Number:__________ / ___________ / ___________

Signature:_______________________________________ Name (Printed):_________________________________________

Address:___________________________________________________________________________________________________

City:_________________________________ State:________________________________ ZIP Code:_______________________

Telephone Number:___________________________________________________________________________________________

Preparer’s Signature:_________________________________ Attorney’s Signature:_________________________________

Preparer’s Name (Printed):_____________________________ Attorney’s Name (Printed):_____________________________

Preparer’s Address: __________________________________ Attorney’s Address: __________________________________

City: ______________________________________________ City: ______________________________________________

State: ______________________ ZIP Code:______________ State: ______________________ ZIP Code:______________

Telephone Number: __________________________________ Telephone Number: __________________________________

Return will not be accepted without signature of personal representative. Return will be accepted with preparer’s or attorney’s signature only if written

authority from legal representative is submitted with return.

Form 454

EGE

Personal Representative’s SignaturePersonal Representative’s Signature

Personal Representative’s Signature

Oklahoma Estate Tax Return

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

A copy of the death certificate must be attached with this form.

To obtain a release of an estate from the State of Oklahoma it is necessary to complete Form 454. The form must

include all assets held by the decedent individually, jointly with any other person or persons, or in trust, and including any

transfers made within three (3) years of death.

It must be signed by the representative of the estate, the attorney, and also by the preparer, if other than the

representative or attorney.

If you have an attorney for the estate, the release will be mailed to the attorney - otherwise it will be mailed to the

preparer shown or the representative of the estate.

Timely Filing Required:

A completed return must be filed within nine (9) months after the date of the decedent’s death or interest will accrue.

When To Pay:

Estate tax is due and payable nine (9) months after the date of death. If not paid interest will begin accruing after due

date.

Complete Filing Requirements:

A return must disclose all information necessary for the determination of the tax liability. This includes filing not only

the return, but also any supplemental documents necessary in computing the tax liability. If a Federal Estate Tax Return

(Form 706) was filed, please include a copy of the Federal Return. Please attach a Death Certificate to the return.

(Certificate can be either an original or regular copy)

Completing The Return:

First complete each schedule of the estate tax return. Refer to the instruction s on the back of each schedule. The

schedules are arranged categorically.

Please attach a copy of the will (whether probated or not) and/or trust instrument.

As the Oklahoma Estate Tax Return schedules do not correspond to the Federal Estate Tax Return (Form 706)

schedules, the Oklahoma return cannot be worked from the Federal schedules because of the discrepancies in the

schedules and because our computer-generated letters are designed to reflect Oklahoma estate tax schedules only.

Provide information as to where the decedent lived (i.e. apartment, nursing home, with family, etc.) and what was

decedent’s incidence of ownership (i.e. own, rent, etc.)

If the gross estate is in excess of $300,000 or if decedent owned a business, provide copies of the Federal 1040

Income Tax Returns for the three (3) years prior to the date of death.

Disclaimed Interest:

Any heir or surviving joint tenant may disclaim any interest in property. Joint tenancy interests are subject to O.S. 60

Section 751 et seq. Joint tenancy disclaimers shall be effective upon being filed in the Office of the County Clerk. Other

interests passing by will, intestate succession, etc are subject to Title 84 Section 25. The disclaimers under Title 84 shall

be effective upon being filed in district court.

A certified copy of the disclaimer must accompany the estate tax return.

General Instructions - Estate TaxGeneral Instructions - Estate Tax

General Instructions - Estate Tax

(Title 68, Sections 801 through 827 O.S.)

Estate of: ________________________________________________________________

Summary of SchedulesSummary of Schedules

Summary of Schedules

Oklahoma Estate Tax ReturnOklahoma Estate Tax Return

Oklahoma Estate Tax Return

This form is a summary of Schedules A-1, A-2, B, C-1, C-2, D, E, F, G, H-1, H-2, I-1, I-2, and J.

Gross Estate:

1. Real estate, oil and gas leases, etc. (Schedule A-1, A-2) ............................................ $ ______________

2. Stocks, bonds, etc. (Schedule B) ..................................................................................$ ______________

3. Personal property (Schedule C) ....................................................................................$ ______________

4. Life Insurance (Schedule D)..........................................................................................$ ______________

5. Transfers during lifetime (Schedule E) ..........................................................................$ ______________

6. Total gross estate in Oklahoma (Total lines 1-5) ...........................................................$ ______________

7. Property out-of-state (Schedule F) ........................................................ $ ______________

8. Total gross estate (Total of lines 6 & 7) ................................................. $ ______________

9. Oklahoma’s % (Line 6 divided by line 8) ............................................... _____________%

10. Less property reportable in Oklahoma passing to surviving spouse (Schedule I) ........$ ______________

11. Adjusted gross estate (Line 6 minus line 10) ................................................................$ ______________

Deductions:

12. Debts, mortgages, and taxes (Schedule G) .......................................... $ ______________

13. Other deductions (Schedule H) ............................................................. $ _______________

14. Total Deductions (Add lines 12 and 13) ................................................ $ _______________

15. Deductions allowable in Oklahoma (% on line 9 multiplied by line 14) .........................$ ______________

Tax Computation:

16. Net estate in Oklahoma (Line 11 minus Line 15) ..........................................................$ ______________

17. Amount passing to lineal heirs .............................................................. $ ______________

18. Amount passing to collateral heirs ........................................................ $ ______________

19. Less exemption allowed (See chart on the back of this page) x (Line 9 _____%) ........$ ______________

20. Net estate subject to tax................................................................................................$ ______________

21. Tax: Lineal $ _____________ Collateral $ ____________ ............................Total .$ ______________

22. Less: Credit for prior tax paid (Attach Form PTP) .........................................................$ ______________

23. Net Oklahoma estate tax per section 802 .....................................................................$ ______________

24. Additional tax to absorb allowable Federal credit (Section 804)

Oklahoma’s pro rata share

(Line 9) ___________% x (Federal credit) $ ____________ = $ ______________

Less: Amount on line 23 ........................................................................ ($ _____________ )

Remainder to be added.................................................................................................$ ______________

25. Total estate tax due Oklahoma (Total lines 23 and 24) .................................................$ ______________

26. Interest: On payments made after due date.

(1 1/4% monthly effective 7/1/88 thru current) .................................................$ ______________

27. Balance due (Bracket to indicate refund) ......................................................................$ ______________

(Indicate amount remitted with return in upper right corner of Form 454)

This page is a recap of the values from each schedule. Carry forward to this page the total from each schedule. If

nothing was shown on the schedule, indicate -0- on the appropriate line on “Summary of Schedules”.

Line 7: If the decedent was an out-of-state resident, value of the out-of-state property must be indicated because of

Oklahoma statutory requirements limiting deductions for out-of state residents.

Line 17 and 18: If the estate passed to lineal heirs and also collateral heirs, determine the tax separately as to each

under appropriate tax tables (located on the back of Schedule J) as if there were two estates. The two amounts of tax

will equal the total tax due on the decedent’s estate. Unless the will otherwise provides, the tax shall be apportioned

among lineal and collateral persons.

The tax on interests passing to collateral persons shall be apportioned in the proportion that the value of interest re-

ceived by each collateral person bears to the total of the interests passing to all collateral persons.

The tax on interests passing to lineal persons shall be apportioned in the proportion that the value of interest received by

each lineal person bears to the total of all interests passing to lineal persons.

The values used in determining the tax shall be used for that purpose.

Line 19: Lineal Exemption: Lineal heirs only for deaths prior to January 1, 2007. (Amount should be prorated per Title

68 O.S. 809 (D).

1. For the estate of a decedent who dies before January 1, 1999, the exemption shall be One Hundred Seventy-five

Thousand Dollars ($175,000.00);

2. For the estate of a decedent who dies on or after January 1, 1999, and before January 1, 2000, the exemption

shall be Two Hundred Seventy-five Thousand Dollars ($275,000.00);

3. For the estate of a decedent who dies on or after January 1, 2000, and before January 1, 2001, the exemption

shall be Four Hundred Seventy-five Thousand Dollars ($475,000.00);

4. For the estate of a decedent who dies on or after January 1, 2001, and before January 1, 2002, the exemption

shall be Six Hundred Seventy-five Thousand Dollars ($675,000.00);

5. For the estate of a decedent who dies on or after January 1, 2002, and before January 1, 2004, the exemption

shall be Seven Hundred Thousand Dollars ($700,000.00);

6. For the estate of a decedent who dies on or after January 1, 2004, and before January 1, 2005, the exemption

shall be Eight Hundred Fifty Thousand Dollars($850,000.00);

7. For the estate of a decedent who dies on or after January 1, 2005, and before January 1, 2006, the exemption

shall be Nine Hundred Fifty Thousand Dollars ($950,000.00); and

8. For the estate of a decedent who dies on or after January 1, 2006, and before January 1, 2007, the exemption

shall be One Million Dollars ($1,000,000.00).

Line 19: Lineal and Collateral Exemption:

9. For the estate of a decedent who dies on or after January 1, 2007, and before January 1, 2008, the exemption

shall be a total of One Million Dollars ($1,000,000.00) for both lineal and collateral heirs.

10. For the estate of a decedent who dies on or after January 1, 2008, and before January 1 2009, the exemption shall

be a total of Two Million Dollars ($2,000,000.00) for both lineal and collateral heirs.

11. For the estate of a decedent who dies on or after January 1, 2009, and before January 1, 2010, the exemption

shall be a total of Three Million Dollars ($3,000,000.00) for both lineal and collateral heirs.

Line 21: If heirs are both lineal and collateral, record each tax separately on Line 21 and show the total tax.

Line 22: If property included in the Estate has been taxed in a prior estate in Oklahoma within the last ten (10) years

there is a credit allowed as per Title 68, Section 802.1. (Form 454-PTP) The credit is 100% within the first two years;

80% from two to four years; 60% from four to six years; 40% from six to eight years; 20% from eight to ten years.

Line 24: To be used only when Oklahoma’s pro rata share of the Credit for State Death Tax allowable on the Federal

return (Form 706) exceeds the Oklahoma tax as shown on line 23.

Line 26: Oklahoma Estate Tax does not impose a penalty for late filing or late payment. However, interest accrues on

all taxes not paid within nine months of the date of death.

Oklahoma Estate Tax Return

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Estate of: ______________________________________

County of Probate: _____________________________

Schedule A-1

Real Estate

Item Legal Description and County Alternate Value at

Number Street Address Located Value Date of Death

(1) (2) (3)

(If more space is required, attach additional sheets, marking same as Schedule A-1)

Total of column 2 or column 3 (as applicable): $ _____________

Accrued Rents: Time period Accrued: Amount

Property rented (Item number above)

Total accrued rent $

Total of valuation and accrued rents $

(Carry total to Schedule A-2)

From To

Instructions for Schedule A-1Instructions for Schedule A-1

Instructions for Schedule A-1

Description:

Give complete legal description of each parcel or tract of real property in the State of Oklahoma of

which the decedent seized or possessed, including the homestead. If town or city property, give

street number as well as lot and block number.

Jointly Owned Property:

Include decedent’s interest in jointly owned property. Identify the property and list name of joint

owner. Mortgages against the real estate should be listed as deductions on Schedule G.

Provide the relationship to decedent of each joint tenant on real estate shown on Schedule A-1.

Property Sold:

Provide a copy of the signed sales contract for real estate or a court order approving the sale.

Residential Property:

On residential property, please provide a copy of County Assessor’s field card. Per Oklahoma

statutes this value cannot be accepted alone, however, it provides information which will expedite the

audit.

Partial Interests:

Anytime a partial interest is shown on the return, provide documentation as to how partial interest

originated. Documentation should consist of any deeds and support for who provided contribution

toward purchase. If property was acquired through gift or inheritance, provide a copy of the gift tax

return or final decree.

Alternate Valuation:

If alternate valuation has been elected, value of all Schedule A-1 property should be valued as of a

date (6) six months from the date of death. This election will not affect the valuation of any accrued

rents or growing crops.

Life Interests:

Give a complete legal description of each parcel on which decedent owned a life interest.

If decedent reserved a life interest, value at full value as of date of death.

If decedent was recipient of life interest from someone else, show property on return and

value at -0- value.

Disclaimed Interest:

Any heir or surviving joint tenant may disclaim any interest in property. Joint tenancy interests are

subject to O.S. 60 Section 751 et seq. Joint tenancy disclaimers shall be effective upon being filed in

the Office of the County Clerk. Other interests passing by will, intestate succession, etc are subject to

Title 84 Section 25. The disclaimers under Title 84 shall be effective upon being filed in district court.

A certified copy of the disclaimer must accompany the estate tax return.

Accrued Rents:

Any accrued interest, rents, or growing crops are to be shown on return valued as of date of death.

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Oklahoma Estate Tax Return

Total Schedule A-2 (Column 2 or 3 as applicable)

Total Schedule A-1

Total Schedule A (carry to line 1 on “Summary of Schedules”)

Estate of: _____________________________________

Oil, gas, or other mineral interest owned, leases, rentals, royalties, and leasehold interest in

the state of Oklahoma - Indicate whether production is oil, gas, or other minerals.

Schedule A-2

Oil, Gas, & Minerals

Item Complete Legal Description Annual Alternate Value at

Number Character of Interest Income Value Date of Death

Percent of Interest Owned

(1) (2) (3)

(If more space is required, attach additional sheets, marking same as Schedule A-2)

Income derived from producing properties from DOD to alternate value

date

Totals

$ $

Instructions for Schedule A-2Instructions for Schedule A-2

Instructions for Schedule A-2

Minerals:

Oil, gas, or mineral leases, rentals, royalties, and leasehold interest in the State of Oklahoma.

Include decedent’s interest in jointly owned mineral properties.

List name of joint owner.

Attach schedules to appraised values of producing royalties and working interest.

Description:

Provide the complete legal description of each mineral interest shown on Schedule A-2.

Provide the exact mineral acres the decedent owned in each tract shown on Schedule A-2.

Please explain your calculation for any mineral interest.

Valuation:

In the absence of an evaluation of mineral value by a geologist or petroleum engineer, the

minimum value to be reported is:

a. Producing minerals: except as noted, oil income should be valued at 48 times the average

monthly income for the six (6) months before to six (6) months after the date of death. Gas

income should be valued at 84 times the average monthly income for the six (6) months before

to six (6) months after the date of death. The Oklahoma Tax Commission shall not be bound by

the submitted evaluation.

b. Non-producing leased: for leased properties, the value should be one and one half (1 1/2) times

the lease bonus if the last lease was made within one (1) year of the date of death.

c. Non-producing non-leased: these values can be obtained by calling the Estate Tax Section at

the Oklahoma Tax Commission. These values change on a monthly basis.

Alternate Valuation:

If alternate valuation has been elected, value of all Schedule A-1 property should be valued as of a

date six (6) months from the date of death.

When alternate valuation is elected, it is necessary to show the value of any production that has

occured during a time period from date of death to alternate valuation date.

Disclaimed Interest:

Any heir or surviving joint tenant may disclaim any interest in property. Joint tenancy interests are

subject to O.S. 60 Section 751 et seq. Joint tenancy disclaimers shall be effective upon being filed in

the Office of the County Clerk. Other interests passing by will, intestate succession, etc are subject to

Title 84 Section 25. The disclaimers under Title 84 shall be effective upon being filed in district court.

A certified copy of the disclaimer must accompany the estate tax return.

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Oklahoma Estate Tax Return

Estate of: _____________________________________

Schedule B

Stocks and Bonds

(If more space is required, attach additional sheets, marking same as Schedule B)

Total (carry to line 2 on “Summary of Schedules”)

$ $

Item

Number

Description

Bonds include - face value, certificate

number and issue date.

Stocks include - par value, number of

shares and stock number.

Mutual Funds include - number of

shares.

Unit Value

E/EE Bonds and

H Bonds

Face Value

Alternate

Value

Value at Date

of Death plus

Accrued Interest

and Dividends

Instructions for Schedule BInstructions for Schedule B

Instructions for Schedule B

Stocks and Bonds:

Bonds: Enter name of issuing corporation together with number and date of all bonds,

including U.S. Savings Bonds.

Stocks: Enter name of corporation and number of shares. Include decedent’s interest in

stocks and bonds held jointly with others. List name of joint owner or beneficiary.

Mutual Funds: Enter name of fund and number of shares. Include decedent’s interest in mutual funds

held jointly with others. List name of joint owner or beneficiary.

Provide denominations and issue date for the series E and/or EE bonds shown on Schedule B. Series H

bonds should be valued at face value plus any accrued interest to date of death.

Valuation:

Provide a brokers statement for any stocks, mutual funds and/or bonds held by a transfer agent or

brokerage firm, showing number of shares owned and value of each. Also show individual bonds held and

value of each.

Closely Held Corporation:

Provide balance sheets and income statements for three (3) years prior to decedent’s date of death for any

closely held corporation shown.

On any closely held corporation provide Federal Form 1120 or 1120S for three (3) years prior to date of

death.

Sole Proprietorship:

Provide balance sheets and income statements for three (3) years prior to decedent’s date of death for any

sole proprietorship shown.

On any sole proprietorship provide Federal Income Tax Returns (form 1040) for three (3) years prior to date

of death.

Alternate Valuation:

If alternate valuation is elected, value of all Schedule B should be valued as of a date six (6) months from

the date of death. Any accrued interest or change in status of any item on schedule B during this six (6)

months period should not be shown on the return.

Joint Tenancy:

Joint tenancy property must be valued at full value on the return unless the surviving joint tenant’s interest is

supported by documentation of contributions made with funds separate from the decedent’s. This

documentation must be accompanied by a sworn affidavit from the surviving joint tenant which sets forth the

facts and supports the claim. [Title 68 O.S., Sec. 807 (A) (4).]

Disclaimed Interest:

Any heir or surviving joint tenant may disclaim any interest in property. Joint tenancy interests are subject to

O.S. 60 Section 751 et seq. Joint tenancy disclaimers shall be effective upon being filed in the Office of the

County Clerk. Other interests passing by will, intestate succession, etc are subject to Title 84 Section 25. The

disclaimers under Title 84 shall be effective upon being filed in district court.

A certified copy of the disclaimer must accompany the estate tax return.

Exempt Bonds:(examples of exempt Bonds)

Oklahoma Turnpike Bonds [See Title 69 O.S. Sec. 1701], 1993 issue of Oklahoma Building Bonds and

College Savings Bonds [See Title 69 O.S. Sec. 1714 and Title 62 O.S., Sec. 57.305(C).], Oklahoma General

Obligation Bonds (OK Bld Bonds of 1992 Series A and Series B) [See Title 62 O.S. Sec. 57.300], Oklahoma

Municipal Power Authority Revenue Bonds [See Title 11 O.S. Sec. 24], Oklahoma Industrial Authority Revenue

Bonds [See Title 62O.S. Sec. 659], and Oklahoma Capitol Improvement Authority Bonds. [See Title 73 O.S.

Sec. 168.6 and Title 73 O.S. Sec. 177.1], are exempt from Oklahoma Estate Tax. Other Bonds may be ex-

empt. Refer to statutes cited on the face of Bonds issued.

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Oklahoma Estate Tax Return

Estate of: _____________________________________

Schedule C-1

Intangible Personal Property

(If more space is required, attach additional sheets, marking same as Schedule C-1)

Total (carry total to Schedule C-2)

$ $

Item

Number

Description of Item

(include account

number)

Name of Bank,

Trustee or Debtor

and Complete

Address

Joint Tenants/

Beneficiary

Names

Accrued

Interest

Total Principal

and Accrued

Interest

Instructions for Schedule C-1Instructions for Schedule C-1

Instructions for Schedule C-1

Intangible Personal Property:

List all cash on hand or on deposit, notes, mortgages, accounts receivable due at date of death,

contracts of sale and decedent’s interest in partnerships located both within and without the State of

Oklahoma.

Due date of notes and mortgages should be clearly shown, together with accrued interest from last

payment to the date of death.

Include decedent’s interest in joint accounts, deposits, etc. List name(s) of joint owner(s).

Bank Accounts:

Provide documentation for balances at date of death for all out-of-state bank accounts.

On all bank accounts list name and address of any joint tenant/beneficiary, account number, and

the name and address of the financial institution in which the account is held.

Annuity:

Provide a statement from company issuing annuity.

Accounts Receivable:

On all accounts receivable, notes, and mortgages provide documentation showing balance due at

date of death, name and address and relationship of debtor.

Partnership:

On any partnership shown provide balance sheets and income statements for three (3) years prior

to date of death.

Also provide copies of the Federal Form 1065 including Schedule K for three (3) years prior to date

of death.

Joint Tenancy Property:

Joint tenancy property must be valued at full value on the return unless the surviving joint tenant’s

interest is supported by documentation of contributions made with funds separate from the

decedent’s. This documentation must be accompanied by a sworn affidavit from the surviving joint

tenant which sets forth the facts and supports the claim. [Title 68 O.S., Sec. 807 (A) (4).]

Disclaimed Interest:

Any heir or surviving joint tenant may disclaim any interest in property. Joint tenancy interests are

subject to O.S. 60 Section 751 et seq. Joint tenancy disclaimers shall be effective upon being filed in

the Office of the County Clerk. Other interests passing by will, intestate succession, etc are subject to

Title 84 Section 25. The disclaimers under Title 84 shall be effective upon being filed in district court.

A certified copy of the disclaimer must accompany the estate tax return.

Wrongful Death Claim:

Provide a copy of the settlement statement for any wrongful death claim filed on the decedent.

Taxable Status:

Intangible personal property follows the domicile of the decedent, except any intangible personal

property used in connection with any established business, having a business situs in this state in-

cluding, the interest of such non resident in a partnership the business of which is conducted in this

state or the majority of assets of which are located in this state, is includable in the Oklahoma Estate

Tax Return on Schedule C-1. [Title 68 O.S., Sec. 807 (7).]

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Oklahoma Estate Tax Return

Total Schedule C-2 (Column 2 or 3 as applicable)

Total Schedule C-1

Total Schedule C (carry to line 3 on “Summary of Schedules”)

Estate of: _____________________________________

Schedule C-2

Tangible Personal Property

and Miscellaneous Property

(If more space is required, attach additional sheets, marking same as Schedule C-2)

Totals

$ $

Item Description Alternate Value at

Number and Location Value Date of Death

(1) (2)

Instructions for Schedule C-2Instructions for Schedule C-2

Instructions for Schedule C-2

Tangible Personal Property:

List each item of decedent’s personal property such as household furniture, silverware, pictures,

works of art, books, jewelry, wearing apparel, livestock, automobiles, trucks, tools, farm implements,

farm products, building on leased premises, stocks of merchandise, etc.

Include decedent’s interest in property held jointly with others. List name of joint owner(s).

Property Sold:

Provide a copy of documentation of sale or court order approving the sale.

Motor Vehicles:

Provide the make and model (including Vehicle Identification Number if possible) for any

automobile(s), tractor(s) or other motor vehicle shown on Schedule C-2.

Accounts Receivable:

On all accounts receivable, notes, and mortgages provide documentation showing balance due at

date of death, name, address and relationship of debtor.

Household Furniture:

Provide an inventory of decedent’s personal property.

Art Work and Collectibles:

For works of art, books, and jewelry, etc., provide a qualified appraisal.

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Oklahoma Estate Tax Return

Estate of: _____________________________________

Schedule D

Life Insurance

(If more space is required, attach additional sheets, marking same as Schedule C-1)

Total (carry total to line 4 on “Summary of Schedules”)

$ $

Item

Number

Insurance Company

Policy Number

Owner’s Name

Beneficiary

Face Value

Amount

Received

Was there any insurance on the life of the decedent that was not included on this return?

Yes ________ No ________ If yes, submit documentation.

Instructions for Schedule DInstructions for Schedule D

Instructions for Schedule D

Life Insurance:

List policies of insurance held on the life of the decedent. (Use Schedule C-1 for annuity contracts)

List the name of all beneficiaries and give their relationship to the decedent.

List face value of policy and the amount actually paid by the insurance company.

List all life insurance policies upon which the decedent owned any interest on the life of

someone else.

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Oklahoma Estate Tax Return

Estate of: _____________________________________

(If more space is required, attach additional sheets, marking same as Schedule E)

Total

$ $

Item

Number

Legal Description

or Character

of Transferred Property

Name and

Address

of Transferee.

Relationship

to Decedent

Alternate

Value

(1)

Value at Date

of Death

(2)

Date

Transfer

Schedule E

Transfer During Lifetime

Total Schedule E (column 1 or 2 as applicable) (carry to line 5 on “Summary of Schedules”)...................... $ ___________

Has the decedent filed federal gift tax returns (form 709) within the last three (3) years?

If yes, submit copies

. .........................................................................................................................

Section I - Right or Interest Retained

Did the decedent at anytime make a transfer, by trust or otherwise, which was not a bona fide sale

for an adequate consideration in money or money’s worth in which:

A. The decedent retained a life estate? ...........................................................................................

B. Possession or enjoyment of the property through ownership can be obtained only by

surviving the decedent and the decedent retained a reversionary interest? ...................................

C. The decedent retained the power, alone or in conjunction with any other person to

alter, amend, revoke, or terminate the transfer

? .......................................................................

Section II - Contemplation of Death

Did the decedent within three (3) years immediately preceding death, by trust or otherwise, for less

than an adequate consideration in money or money’s worth:

A. Transfer an interest in property? ....................................................................................................

B. Relinquish a power? ......................................................................................................................

C. Exercise a general power of appointment? ...................................................................................

Yes No

If the answer to any of the above questions is “yes”, furnish the above information to each transfer.

Instructions for Schedule EInstructions for Schedule E

Instructions for Schedule E

Transfer of Assets before Date of Death:

List hereunder all transfer of property, real, personal, or mixed, or any interest therein, made by

decedent which were intended to take effect in possession or enjoyment at or after death, regardless

of the date of the transfer.

List hereunder all transfer of property, real, personal, or mixed, or any interest therein, either in

trust or by deed, bargain, sale, or gift, where such transfers were made without an equivalent in mon-

etary consideration, within three (3) years of the death of the decedent.

Provide the name, relationship to decedent, and a complete address of each transferee shown on

Schedule E.

Provide a complete legal description of each parcel of real estate shown on Schedule E.

Provide a complete legal description with mineral acres owned for each mineral interest shown on

Schedule E.

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Oklahoma Estate Tax Return

Estate of: _____________________________________

(If more space is required, attach additional sheets, marking same as Schedule G)

Total Debts and Mortgages (carry total to line 12 on “Summary of Schedules”)

$ $

Item

Number

Name of Creditor

Description of Claim or

of Property Pledged

Amount

Unpaid

at Date

of Death

Amount

Claimed as a

Deduction

Real estate, mineral interests, leases, and royalties -

Gross value outside Oklahoma

Personal Property: Tangible Property

Intangible Property

Total Gross estate not taxable in Oklahoma (carry to page 2, line 7)

Schedule F

Property Not Taxable

in Oklahoma

Schedule G

Debts, Mortgages, and Taxes

due and unpaid at death

Instructions for Schedule FInstructions for Schedule F

Instructions for Schedule F

Property Having a Taxable Situs Outside the State of Oklahoma:

List total gross value of all real estate, or any interest therein, and all personal property having a

taxable situs outside the State of Oklahoma. Debts and mortgages should be listed under deduction,

Schedule G.

A statement of the value of the property located outside the State is required only for the purpose

of arriving at the percentage of deduction and exemption allowed by statute in computing tax liability

of the Oklahoma estate.

All intangible personal property of the decedent follows domicile of the decedent and is taxable

there.

All other property is taxable based upon its physical location.

Instructions for Schedule GInstructions for Schedule G

Instructions for Schedule G

Debts, Mortgages, and Taxes Due and Unpaid at Death:

Debts should be decreased by any amount paid by credit life insurance. Any excess of credit life

insurance should be listed on Schedule D.

All medical debts should be decreased by any amount covered by Medicare or health insurance.

List all valid debts of the decedent due and owing at the date of death.

Only property taxes owed on Oklahoma real estate which have been assessed before decedent’s

death are deductible on the Oklahoma tax return.

Only unpaid Federal gift taxes on gifts made by the decedent are deductible.

Federal and State estate taxes and interest and penalty on the decedent’s estate are not

deductible.

Any debt claimed on the estate tax return, upon which the decedent was a co-signer, must have a

corresponding asset shown in the estate as a claim against the original party of the note.

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Oklahoma Estate Tax Return

Estate of: _____________________________________

(If more space is required, attach additional sheets, marking same as Schedule H-2)

Total Schedule H-2

Item

Number

Name and Address

of Organization

Character of Organization

Paragraph

of Will or Trust

Amount

Schedule H-1

Administration and

Funeral Expenses

Schedule H-2

Bequests: Charitable,

Religious, and Educational

Item

Number

Description

Amount Actually

Expended

1. Funeral Expenses

2. Monument ($500) Maximum)

3. Executors’ Commissions (Court approved and paid)

4. Attorney Fees (Court approved and paid)

5. Miscellaneous Expenses (Administration expense, court costs, etc.)

List:

Total Schedule H-1

1. A. If the transfer was made by will, has any action been instituted to have the

will interpreted or to contest the will or any provisions thereof effecting the

charitable deductions claimed in this schedule.

B. According to the information and belief of the person or persons filing the

return, is any such action designed or contemplated? If “yes,” full details

must be submitted with this schedule.

2. Did any property pass to charity as the result of a qualified disclaimer?

If “yes,” attach a copy of the written disclaimer.

Yes No

Total Schedules H-1 and H-2 (Carry total to line 13 on “Summary of Schedules”) $ __________________

Instructions for Schedule HInstructions for Schedule H

Instructions for Schedule H

Other Deductions:

List in detail the deductions allowed. See Title 68 O.S., Sec. 808.

To facilitate the commission’s prompt assessment of the tax, care should be exercised in

supplying all details, such as stating the exact nature of the service rendered by attorneys where fees

are claimed in addition to customary fees.

All deductions claimed must be actual amount paid. No estimated deductions are allowed.

The statutory amount allowable for a monument or marker shall not exceed $500.

The statutory amount allowable for burial lot, crypt or mausoleum is $1,000.

Administration expenses must actually be paid. Estimated expenses are not allowable.

Executor’s or administrator’s fees must not exceed the statutory allowance.

[Title 58 O.S., Sec. 527]

Business Expenses:

The cost of continuing operation of a business are not an allowable deduction on the Estate Tax

Return. These expenses must be taken on the Fiduciary Tax Return.

If the business is being closed or terminated within the next fiscal year after the date of death, the

cost of closing the business is an allowable deduction.

Charitable Deductions:

For a charitable deduction to be allowed on the Oklahoma Estate Tax Return it must be at the

direction of the decedent through either decedent’s will or trust.

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Oklahoma Estate Tax Return

(If more space is required, attach additional sheets, marking same as Schedule I-1)

Total Part 1 if spouse received a life estate, carry

total forward and combine with Part 2. If not,

carry total to line 10 on “Summary of Schedules”

$ $

Item

Number

Description of Property Passing

to the Surviving Spouse

Out-of-State

Property

in Oklahoma

Schedule I-1

Property Passing to

Surviving Spouse

1. Did any property pass to the surviving spouse as a result of a qualified disclaimer?

2. Was there an election on the Federal Estate Tax Return (form 706) under section

2056 (b)(7) QTIP?

If yes, list the QTIP information on Schedule I-2. You must complete the life

estate computation on Schedule I-2 because Oklahoma

does not recognize a

QTIP deduction. See OAC 710:35-5-61.

3. Has the spouse elected or contemplated to take against the will?

Yes No

Estate of: _____________________________________

Name of surviving spouse: ________________________________ Age: ______

Part 1 - Property Interest Passing to the Surviving Spouse “Not subject” to a QTIP

Less: Debts and Expenses (Charged to spouse)

nstructions for Schedule Instructions for Schedule I

nstructions for Schedule I

Property Passing to Surviving Spouse:

All property passing outright to the surviving spouse is exempt from Oklahoma Estate Tax.

Property in which the surviving spouse receives only a life estate or a term interest is only partially

exempt from Oklahoma Estate Tax.

The amount passing to the surviving spouse shall be reduced by debts and charges on the proper-

ties passing to the surviving spouse.

Oklahoma does not recognize a QTIP. A life estate should be calculated for the value of the QTIP

property shown on the federal return, and the remainder taxed accordingly.

Common-Law Spouse:

Provide judicial determination of the common-law spouse.

Disclaimed Interest:

Any heir or surviving joint tenant may disclaim any interest in property. Joint tenancy interests are

subject to O.S. 60 Section 751 et seq. Joint tenancy disclaimers shall be effective upon being filed in

the Office of the County Clerk. Other interests passing by will, intestate succession, etc are subject to

Title 84 Section 25. The disclaimers under Title 84 shall be effective upon being filed in district court.

A certified copy of the disclaimer must accompany the estate tax return.

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Oklahoma Estate Tax Return

Total Part 1

Total Part 2

Total Schedule I (Carry to line10 on “Summary of Schedules”)

Estate of: _____________________________________

Schedule I-2

Part 2

(If more space is required, attach additional sheets, marking same as Schedule I-2)

Gross Value

$ $

Item

Number

Description of Property Interest Passing to

the Surviving Spouse, Describe Portion

of Estate for which Election was made.

Out-of-State

Property

Property in

Oklahoma

(1) (2)

Life estate computation:

Gross value of

QTIP, Oklahoma amount (Column 2, after deductions)..............

Percentage per section 817

(Annual equivalent)..................................................

Annual income factor...................................................................................

Age factor from American Experience Table at 5% ....................................

(Column 3 of American Experience Table)

Total part 2 (Value of life estate)..........................................................................

X 5%

Estate of: _____________________________________

Schedule J

Distribution

(If more space is required, attach additional sheets, marking same as Schedule J)

Totals

$ $

Name,

Address

and Social Security Number

Age

and

Relationship

Net value of Share or Value

of Property Set Aside

(only property taxable in Oklahoma)

Collateral Heirs Lineal Heirs

Examples of Heirs:

Lineal: Decedent’s parents, children, step-children, grandchildren, and great grandchildren.

Collateral: Decedent’s step-parents, brother, sister, aunt, uncle, step-grandchildren, nephew, niece,

friend, pets, and others.

Tax tables on back of Schedule J.

Carry amounts passing to heirs forward to lines 17 and 18 on “Summary of Schedules”.

ABLE FOR

INEAL

EIRS

$ -0- $ 10,000.00 $ -0- 0.5%

10,000.00 20,000.00 50.00 1%

20,000.00 40,000.00 150.00 1.5%

40,000.00 60,000.00 450.00 2%

60,000.00 100,000.00 850.00 2.5%

100,000.00 250,000.00 1,850.00 3%

250,000.00 500,000.00 6,350.00 6.5%

500,000.00 750,000.00 22,600.00 7%

750,000.00 1,000,000.00 40,100.00 7.5%

1,000,000.00 3,000,000.00 58,850.00 8%

3,000,000.00 5,000,000.00 218,850.00 8.5%

5,000,000.00 10,000,000.00 388,850.00 9%

10,000,000.00 838,850.00 10%

ABLE

OLLATERAL

EIRS

$ -0- $ 10,000.00 $ -0- 1%

10,000.00 20,000.00 100.00 2%

20,000.00 40,000.00 300.00 3%

40,000.00 60,000.00 900.00 4%

60,000.00 100,000.00 1,700.00 5%

100,000.00 250,000.00 3,700.00 6%

250,000.00 500,000.00 12,700.00 13%

500,000.00 1,000,000.00 45,200.00 14%

1,000,000.00 115,200.00 15%

Taxable Estate

Equal to or

More than

Taxable Estate

Less than

Tax on Amount

in Column 1

Rate of Tax

on Excess

Over Amount

Column 1

Taxable Estate

Equal to or

More than

Taxable Estate

Less than

Tax on Amount

in Column 1

Rate of Tax

on Excess

Over Amount

Column 1

(All heirs use this table for deaths beginning January 1, 2007)

(For deaths prior to January 1, 2007)

KLAHOMA

ABLE

Based on American Experience Table with interest at 5%.

Table for Computing Life Estates and Terms of Years for Purpose of Taxation.

Prepared by the Oklahoma Estate Section of the Oklahoma Tax Commission.

1 ... ... .952381 41 27.45 13.54430 17.294365

2 ... ... 1.859410 42 26.72 13.36528 17.423205

3 ... ... 2.723248 43 25.99 13.17891 17.545909

4 ... ... 3.545950 44 25.27 12.98494 17.662770

5 ... ... 4.329476 45 24.54 12.78344 17.774067

6 ... ... 5.075691 46 23.81 12.57414 17.880064

7 ... ... 5.786372 47 23.08 12.35728 17.981013

8 ... ... 6.463211 48 22.35 12.13275 18.077155

9 ... ... 7.107820 49 21.63 11.90076 18.168719

10 48.72 16.50475 7.721733 50 20.91 11.66175 18.255923

11 48.09 16.46076 8.306412 51 20.20 11.41594 18.338974

12 47.45 16.41469 8.863249 52 19.49 11.16361 18.418070

13 46.80 16.36642 9.393570 53 18.79 10.90499 18.493400

14 46.16 16.31581 9.898638 54 18.09 10.64036 18.565143

15 45.51 16.26274 10.379655 55 17.40 10.37017 18.633469

16 44.85 16.20722 10.837767 56 16.72 10.09472 18.698542

17 44.19 16.14896 11.274064 57 16.05 9.81450 18.760516

18 43.53 16.08779 11.689585 58 15.39 9.52988 18.819539

19 42.87 16.02372 12.085319 59 14.74 9.24127 18.875751

20 42.20 15.95658 12.462208 60 14.10 8.94928 18.929287

21 41.53 15.88620 12.821150 61 13.47 8.65445 18.980273

22 40.85 15.81257 13.163000 62 12.86 8.35742 19.028831

23 40.17 15.73552 13.488571 63 12.26 8.05876 19.075077

24 39.49 15.65484 13.798639 64 11.67 7.75900 19.119121

25 38.81 15.57033 14.093942 65 11.10 7.45885 19.161067

26 38.12 15.48176 14.375183 66 10.54 7.15921 19.201016

27 37.43 15.38910 14.643031 67 10.00 6.86074 19.239063

28 36.73 15.29210 14.898125 68 9.47 6.56420 19.275298

29 36.03 15.19051 15.141071 69 8.97 6.27048 19.309807

30 35.33 15.08425 15.372448 70 8.48 5.98022 19.342673

31 34.63 14.97307 15.582807 71 8.00 5.69422 19.373974

32 33.92 14.85666 15.802673 72 7.55 5.41286 19.403785

33 33.21 14.73492 16.002546 73 7.11 5.13592 19.432176

34 32.50 14.60774 16.192901 74 6.68 4.86279 19.459215

35 31.78 14.47479 16.374191 75 6.27 4.59264 19.484967

36 31.07 14.33572 16.546848 76 5.88 4.32477 19.509492

37 30.35 14.19057 16.711284 77 5.49 4.05856 19.532849

38 29.63 14.03897 16.867889 78 5.11 3.79392 19.555094

39 28.90 13.88092 17.017037 79 4.75 3.53109 19.576280

40 28.18 13.71604 17.139083 80 4.39 3.27017 19.596457

Age with columns No. 2 and No.

3, also number of years with

column No. 4.

Expectancy of life. American

experience table.

Annuity or present value of $1 @ 5%

interest due the end of each year dur-

ing the life of a person of specified

age. American experience table.

Discount table. Present value of

$1 @ 5% interest paid annually

at the end of various years.

Age with columns No. 2 and No.

3, also number of years with

column No. 4.

Expectancy of life. American

experience table.

Annuity or present value of $1 @ 5%

interest due the end of each year dur-

ing the life of a person of specified

age. American experience table.

Discount table. Present value of $1

@ 5% interest paid annually at the

end of various years.

See footnote at end of table.

23 4

KLAHOMA

ABLE

Based on American Experience Table with interest at 5%.

Table for Computing Life Estates and Terms of Years for Purpose of Taxation.

Prepared by the Oklahoma Estate Section of the Oklahoma Tax Commission.

81 4.05 3.01349 19.615673 91 1.19 .64497 19.764055

82 3.71 2.76062 19.633974 92 .98 .44851 19.775290

83 3.39 2.51052 19.651404 93 .80 .28761 19.785990

84 3.08 2.26066 19.668004 94 .64 .13605 19.796181

85 2.77 2.00986 19.683813 95 ... ... 19.805886

86 2.47 1.76061 19.698869 96 ... ... 19.815129

87 2.18 1.51750 19.713208 97 ... ... 19.823932

88 1.91 1.28611 19.726865 98 ... ... 19.832316

89 1.66 1.06704 19.739871 99 ... ... 19.840301

90 1.42 .85453 19.752258 100 ... ... 19.847905

XAMPLES OF THE

SE OF THE

ABLES. - A will gives to the widow an estate for life amounting to $75,000 with

remainder over to a son - using the age of the widow as 49 years. In column No. 3 opposite 49 in column No. 1 you will find the

figures 11.90076, which is the present value of $1.00 at 5% paid annually to a person 49 years of age. The Inheritance tax law

designates 5% as the income rate. First multiply $75,000 by 5%, which is $3,750.00 the income for each year, then multiply

$3,750.00 by 11.90076, which is $44,627.85, the value of the life interest to the widow. To find the remainder interest subtract

$44,627.85 life interest from $75,000.00.

A will gives to a wife an estate of $40,000 in trust for ten years, she receiving the income during this period with the

remainder to a son in fee. In column No. 4 opposite 10 in column No. 1 you will find the figures 7.721733, which is the present

value of $1.00 at 5% annually for a term of 10 years. The Inheritance Tax law designates 5% as the income rate. First multiply

$40,000 by 5%, which is $2,000.00, the income for each year, then multiply $2,000.00 by 7.721733, which is $15,443.46, the

value of this estate in trust for 10 years.

To find his remainder interest subtract $15,443.46 from $40,000.00.

The following correcting factors should be added to the annuity factor set forth under column 3:

(a) If payable semi-annually ................................................................................ .250

(b) If payable quarterly ........................................................................................ .375

Age with columns No. 2 and No. 3, also

number of years with column No. 4.

Expectancy of life. American experience

table.

Annuity or present value of $1 @ 5%

interest due the end of each year during

the life of a person of specified age.

American experience table.

Discount table. Present value of $1 @ 5%

interest paid annually at the end of

various years.

Age with columns No. 2 and No. 3, also

number of years with column No. 4.

Expectancy of life. Am,erican experience

table.

Annuity or present value of $1 @ 5%

interest due the end of each year during

the life of a person of specified age.

American experience table.

Discount table. Present value of $1 @ 5%

interest paid annually at the end of

various years.

pg. 14

4-PTP

Computation of Credit for Tax on Prior Transfers

Estate of: Date of Death:

Transferor:

Date of Death:

Part I - Transferor’s Tax on Prior Transfers

Item

Transferor

A B C

Total for all

Transferors

(Line 14 only)

1. Gross Estate of transferor

2. Total allowable deductions except

exemption

3. Federal estate tax paid

4. State estate tax paid

5. Total (lines 2, 3 and 4)

6. Value of tranferor’s estate

(line1 minus line 5)

7. Net state estate tax paid on

transferor’s estate

8. Gross value of prior transfer

_______% estate transferred

9. Death taxes payable from prior

transfer

10. Obligations allocable to prior

transfer

11. Marital deduction applicable to

line 1 above

12. Total (lines 9, 10, and 11)

13. Net value of all transfers

(line 8 minus line 12)

14. Net value of all transfers

(A, B, and C)

15. Transferor’s tax on prior transfers

([line 13 divided by line 6] x line

7 of respective estates)

% % %

4-PTP

Page 2

Computation of Credit for Tax on Prior Transfers

Estate of: Date of Death:

Part II - Transferee’s Estate

Item

Amount

16. Transferee’s gross state estate tax $

17. Total gross estate of transferee(s) $

18. Net value of all transfers (from line 14) $

19. Transferee’s reduced gross estate (line 17 minus line 18) $

20. Total debts and deductions exclusive of marital, joint tenancy, and charitable deductions $

21. Transferee’s adjusted reduced gross estate (line 19 minus line 20) $

22. Marital deduction and joint tenancy deduction, as shown in Schedule I, Form 454 $

23. Charitable bequests as shown in Schedule H $

24. Charitable deduction proportion ([line 18 divided by line 17 minus line 20] x line 23) $

25. Reduced charitable deduction (line 23 minus line 24) $

26. Specific exemption $

27. Transferee’s deduction as adjusted (total of lines 20, 22, 25, and 26) $

28. Transferee’s reduced taxable estate ([line 19 minus line 27] x percentage located in Oklahoma) $

29. Net tax on reduced taxable estate $

30. Transferee’s tax on prior transfers (line 16 minus line 29) $

Part III - Credit Allowance

Item

Transferor

Total A, B, and C

A B C

31. Transferee’s tax as

apportioned (line 30)

32. Transferor’s tax

(line 15, each column)

33. Maximum amount

allowable, each column

(smaller amount, line 31 or 32)

34. Percentage allowed

(each column)

35. Credit allowable

(line 33 X line 34

for each column)

36. Total credit allowable

(total of all columns in line 35)

$ $ $

% % %

$ $ $

Oklahoma Estate Tax Return

Oklahoma Tax CommissionOklahoma Tax Commission

Oklahoma Tax Commission

2501 Lincoln Boulevard2501 Lincoln Boulevard

2501 Lincoln Boulevard

Oklahoma City, OK 73194Oklahoma City, OK 73194

Oklahoma City, OK 73194

Instructions for Computation of (PTP)

Credit for Tax on Prior Transfers

Part I:

(Lines 1-8 are based on the Estate Tax Return of the prior Decedent.)

1. This is from line 8 of the Estate Tax Return

2. This is from line 15.

3. From line 25 of the Federal Estate Tax Return.

4. This is from line 21.

5. Self-explanatory

6. Self-explanatory

7. Same as line 4.

8. This is the percentage of the net estate (calculated using the values shown on Schedule J)

which was transferred to the current decedent. This net percentage is multiplied times

the gross estate shown on line 1 of the PTP.

9. This is the pro rata share of the estate taxes which the current decedent was responsible

for.

10.This is the pro rata share of the expenses which the current decedent was responsible for.

11.Self-explanatory

12.Self-explanatory

13.Self-explanatory

14.Total of columns A, B, and C

15.Self-explanatory (be sure to divide line 13 by line 6 and then multiply by 7.)

Part II:

(Lines 16-23 are based on the current decedent’s Estate Tax Return.)

16.This is from line 21 of the Estate Tax Return.

17.This is from line 8.

18.Self-explanatory

19.Self-explanatory

20.This is from line 14 less charitable requests

21.Self-explanatory

22.This is from line 10.

23.This is the charitable bequest portion of line 10.

24.Self-explanatory

25.Self-explanatory

26.Pro rata if out-of-state - $175,000.00 if not - or whatever the amount was.

27.Self-explanatory

28.Self-explanatory

29.Actual Estate Tax Rate for the value on line 28 above.

30.Self-explanatory

31.Self-explanatory

32.Self-explanatory

33.Self-explanatory

34.Percentage allowed based on the time period between deaths:

0-2 years = 100%

2-4 years = 80%

4-6 years = 60%

6-8 years = 40%

8-10 years = 20%

10+ = 0%

35.Self-explanatory

Oklahoma Tax Commission

2501 North Lincoln Boulevard

Oklahoma City, OK 73194-0010

U.S. Postage Paid

Oklahoma City, OK 73194

Permit Number 548

Looking for Additional Information?

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tag agent information, the Oklahoma Tax Commission has many formats available for you to get

any additional information you might need.

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Oklahoma Tax Commission Offices

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oll Free • (800) 522-8165, extension 13160

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between, but you are also able to reach us via the email addresses at the bottom of each page.

Use the email options to send us any questions you have that are not answered on the web site.

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