The Child Care/Child Tax Credit in Oklahoma is available to taxpayers who qualify for either the federal credit for child care expenses or the federal child tax credit. This credit is claimed on Oklahoma Form 511, specifically on line 15, and may require completing Schedule 511-F if your Oklahoma adjusted gross income (AGI) is less than your federal AGI.
Eligibility and Calculation
If your Oklahoma adjusted gross income (AGI) is $100,000 or less and you qualify for either the federal child care credit or the federal child tax credit, you may claim the Oklahoma Child Care/Child Tax Credit.
The Oklahoma credit is the greater of:
- 20% of the federal child and dependent care credit allowed under the Internal Revenue Code, or
- The federal child tax credit amount allowed under the Internal Revenue Code, if applicable.
If your Oklahoma AGI is less than your federal AGI, you must complete Schedule 511-F to determine the allowable Oklahoma credit amount.
How to Claim
- Complete the applicable AGI information on Form 511 and use Schedule 511-F when required to calculate the allowable credit.
- If Oklahoma AGI < Federal AGI, complete Schedule 511-F (instructions on page 25 of the Form 511 packet).
- Enter the calculated credit amount on Form 511, line 15.
Source:
Form 511 - Schedule 511-F: Child Care/Child Tax Credit (Oklahoma Department of Revenue)
Disclaimer: Always verify details with the most current Federal and State Department of Revenue forms and instructions. For complex situations, consult a CPA or tax attorney.