1. (a) There shall be allowed an additional exemption on the Oklahoma Income Tax Return of One Thousand Dollars ($1,000.00) for each taxpayer or spouse who is sixty-five (65) years of age or older at the close of the tax year, based upon the filing status and federal adjusted gross income of the taxpayer. Taxpayers with the following status may claim this exemption if the federal adjusted gross income does not exceed:

   1. (1) Twenty-five Thousand Dollars ($25,000.00) if married and filing jointly;
   2. (2) Twelve Thousand Five Hundred Dollars ($12,500.00) if married and filing separately;
   3. (3) Fifteen Thousand Dollars ($15,000.00) if single; and
   4. (4) Nineteen Thousand Dollars ($19,000.00) if a qualifying head of household. [See: 68 O.S. §2358(E)]
2. (b) For taxable years beginning after December 31, 1999, amounts included in the calculation of federal adjusted gross income pursuant to the conversion of a traditional Individual Retirement Account to a Roth Individual Retirement Account shall be excluded from federal adjusted gross income for purposes of the income thresholds set out in paragraphs (a)(1) through (a)(4) of this Section.

Amended at 18 Ok Reg 2810, eff 6-25-01

Amended at 31 Ok Reg 2427, eff 9-12-14

Amended at 34 Ok Reg 2065, eff 9-11-17