Article: 50437

Overview 

Oklahoma provides a state income tax deduction for contributions made to its Oklahoma 529 College Savings Plan (OCSP). If you made qualifying contributions during the tax year, you may deduct a portion of those contributions from your Oklahoma Adjusted Gross Income (AGI). 

To report these contributions, you will use either Schedule C on Form 511 (for full-year residents) or Schedule C on Form 511NR (for part-year/nonresidents). 

Who Is Eligible? 

You may claim this deduction if: 

• You made contributions to an Oklahoma 529 plan (OCSP), 

• The account was active during the tax year, and 

• The contributions were made by the return due date, including extensions. 

Note: You may not deduct any amounts rolled over from another state’s 529 plan if those contributions were previously deducted in that state. 

Deduction Limits 

• Up to $10,000 for single filers or $20,000 for joint filers per tax year. 

• Excess contributions may be carried forward for up to five years. 

How to Report 

1. Navigate to the State Taxes section on the left-hand side of the screen. 

2. Click the link: “I’d like to see the forms I’ve filled out or search for a form.” 

3. In the dropdown menu, select Oklahoma. 

4. Click on the General tab. 

5. Open screen 511 Sch C – Adjustments to OK AGI” if you are a full-year resident, or 511NR Sch C – Adjustments to OK AGI” if you are a part-year or nonresident. 

6. Enter all applicable information.  

7. Click ‘Save‘ once complete. 

Additional Resources 

For further guidance, see:  

• OK Form 511 Instruction Packet (2024) 

• OK Form 511NR Instruction Packet (2024)