Kentucky Inheritance Tax Return

Inheritance Tax Return
Form 92A200
92A200 (6-16)
Commonwealth of Kentucky
DEPARTMENT OF REVENUE

FOR DEPARTMENT USE ONLY

KENTUCKY
INHERITANCE TAX RETURN

4 __
6 / __ __ / __ __ __ __
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Account Number

Tax

Requirements for use of this return—This return is to be filed when (1) the date of death is on
or after January 1, 2005, (2) any assets of the estate pass to taxable beneficiaries or taxable
organizations, (see page 4 of general information) and (3) Forms 92A201 and 92A205 do not
apply. Pursuant to KRS 140.190, the beneficiaries as well as the personal representative(s)
may be held personally liable for the tax.
Decedent’s Name Last

First

Middle Initial

Social Security Number

Occupation (If decedent was
retired at death, state occupation prior to retirement.)

Mo

Year

Return Status (check one):
Original Return
Amended Return—Refund
Amended Return—Tax Due
Age at Death

Date of Death

Cause of Death

HR Code Number

Residence (Domicile) at Time of Death
Number and Street

City

Name and Address of Executor/Administrator/Beneficiary

State

ZIP Code

County

Name and Address of Preparer

Exec

Atty

 Admr

 CPA

 ________

 ________

Did the decedent have a will?

No

Did the decedent have a trust agreement?

Yes If Yes, attach a copy of the will.
No

Yes If Yes, attach a copy of the trust agreement.

Filing status of Federal Estate and Gift Tax Return for this estate (check one):
Not Required
Required (enclose copy)
Not Required, but filed for Portability (enclose copy)
Gross Estate
1. Individually owned assets ..................................................................... $
2. Jointly owned assets ............................................................................. $
3. Qualified terminable interest property
and/or powers of appointment ............................................................. $
4. Previously taxed property ..................................................................... $
5. Gifts and transfers ................................................................................. $
Total Gross Estate ............................................................................................
Deductions
6. Funeral expenses ................................................................................... $
7. Administration expenses ...................................................................... $
8. Debts of decedent .................................................................................. $
9. Federal estate tax—
paid or  
estimated ................................... $
Total Deductions ...............................................................................................
Net Estate (Total Gross Estate less Total Deductions) ...................................
Total Tax Due from Tax Computation Form 92A200 .......................................
Interest and Penalty
10. Interest for late payment (see general information) ....................................................................
11. Late filing penalty (see general information) ...............................................................................
12. Late payment penalty (see general information) .........................................................................
13. Total Due (tax plus interest and penalties, if applicable) ............................................................
14. Total previously paid ......................................................................................................................
15. Balance due/Refund .......................................................................................................................

$

$
$
$
$
$
$
$
$
$

Attach check payable to “Kentucky State Treasurer” to this return and mail to Kentucky Department of Revenue, Frankfort, KY 40620

✍

Under criminal penalties, I declare that this return, including accompanying documents, has been examined by me, and is, to the best
of my knowledge and belief, true, correct and complete.

(
Signature of Executor/Administrator/Beneficiary

Social Security Number

Date

)

Telephone Number

E-mail Address of Executor/Administrator/Beneficiary

(
Signature of Preparer

Date

)

Telephone Number

E-mail Address

92A200 (6-16)

Estate of:

Page ____ of ____

Individually Owned Assets

List in this schedule all items individually owned by the decedent including life insurance payable to the estate.
(Please review instructions on reverse side for details.)
Item
Number

Description of Property/Name of Corporation
or Obligor/ Name of Bank or Debtor

Accrued Rents/
Interest/Dividends

Number
of Shares

1.

Total (including continuation page(s)) (enter on page 1, line 1) ..............................................➤
If additional space is needed, duplicate this page and attach as a continuation page(s).

Fair Cash Value
on Date of Death

INSTRUCTIONS
INDIVIDUALLY OWNED ASSETS
All real proper ty individually owned must
be lis ted in this schedule. For repor ting
agricultural or horticultural land, see General
Information—Valuation of Property—Fair Cash
and Agricultural.
Stocks and bonds individually owned are
includable in this schedule. Stock values are
determined by using an average of the high and
low quoted selling price on the decedent’s date
of death. In case of inactive stock such as closely
held corporations, explain the method used
in computing the value at the date of death. A
balance sheet, at a date nearest the decedent’s
death, together with a statement of net earnings
and dividends paid for the five-year period
immediately preceding the date of death, must
be supplied in support of these valuations (ex.
financial institution’s monthly statement.)
Dividends declared and of record in the decedent’s
name but not paid prior to death must be included
in this schedule. Provide statements, lists, etc.
supporting valuation of these assets.
United States bonds individually owned as well
as those payable upon death to another should
be included in this schedule. Indicate series,
maturity value and date of purchase of all United
States bonds.
In some instances, the estate will include stocks
and bonds listed on a stock exchange that did not
make sales on the date of the decedent’s death.
When this occurs, their value must be determined
by averaging the high and low for the last working
day preceding the date of death and the first
working day subsequent to the date of death. For
reporting stock of a corporation owning qualified
real estate passing to a qualified person(s), see
General Information—Valuation of Property—Fair
Cash and Agricultural.
Mortgages, notes and cash individually owned
must be listed in this schedule. List accrued interest
to date of death. The description of mortgages
and notes must include interest rate, the date the
last payment of interest was made preceding the
date of the decedent’s death, and the due date

of the mortgages or notes. If an account is held
out of state, show name and address of financial
institution on the tax return.
List life insurance payable to the insured or to the
estate. Life insurance payable to a designated
beneficiary, including a testamentary or inter
vivos trustee, is tax-free.
List in this schedule other individually owned
items of the gross estate, such as debts due
decedent; business or partnership (attach balance
sheet showing capital accounts); claims, exclusive
of those claimed under KRS 411.130 (wrongful
death); rights; royalties; leaseholds; judgments;
shares in trust funds; contracts; household
goods and personal effects, including antiques,
jewelry and collections of any type; farm products
and growing crops; livestock; farm machinery;
automobiles; etc.
The value of an annuity or other payment made
to a beneficiary of a deceased employee (other
than the executor or equivalent) under (1) an
exempt trust or qualified nontrusted annuity
plan as described by the Internal Revenue Code
or (2) a contract purchased by an educational or
charitable organization as referred to in Section
170(b)(1)(A)(ii) or (vi) of the Internal Revenue Code
or a religious organization exempt from tax under
Internal Revenue Code Section 501(a), is taxable
in the proportion that the total contributions made
by the decedent bears to the total contributions
made. The proceeds from a Retired Serviceman’s
Family Protection Plan or Survivor Benefit Plan
are exempt under KRS 140.015(2). Refer to KRS
140.063(3) and (4) regarding the taxation of
individual retirement accounts and annuities as
described in Section 408(a) and (b) of the Internal
Revenue Code. Lump-sum distributions of an IRA
are taxable.
All other annuities, including deferred compensation
plans, or payments other than those described in
the preceding paragraph made to a beneficiary,
executor or equivalent, are fully taxable if the
decedent retained ownership at death such as the
right to name or change the beneficiary and must
be listed in this schedule.

92A200 (6-16)

Estate of:

Jointly Owned Assets

Page ____ of ____

List in this schedule all property jointly owned by the decedent and other person(s). (Please review instructions on
reverse side for details.)
Item
Number

Description of Property/
Name of Corporation
or Obligor/ Name of Bank or Debtor

Name of Co-Owner(s)

Decedent’s
Interest
(Fraction
or %)

Date Placed
With or
Value of 100%
in Joint
Without
at Date of Death
Names
Survivorship
REQUIRED REQUIRED

1.

Total (including continuation page(s)) .................................................................................................. ➤
Value of decedent’s interest (enter on page 1, line 2) ....................................................................... ➤
If additional space is needed, duplicate this page and attach as a continuation page(s).

INSTRUCTIONS
JOINTLY OWNED ASSETS

All jointly owned property whether real estate (for reporting agricultural or
horticultural land, see General Information—Valuation of Property—Fair Cash and
Agricultural), tangible personal property, bank accounts, stocks, bonds, etc., must
be reported (see KRS 140.050 below). All property placed in joint ownership by the
decedent within three years of the date of death is subject to the tax in its entirety
(see KRS 140.020(2) below). However, there is no presumption of contemplation of
death as to certificates of deposit jointly owned, and only the percent of ownership
of the decedent is taxable (see KRS 140.020(3) below).
KRS 140.020(2) reads as follows: Every transfer made within three (3) years
prior to the death of the grantor, vendor or donor of a material part of his
estate, or in the nature of a final disposition or distribution thereof, and
without an adequate valuable consideration, shall be construed prima
facie to have been made in contemplation of death within the meaning
of this chapter. If a transfer was made more than three (3) years prior to
the death of the decedent it shall be a question of fact, to be determined
by the proper tribunal, whether the transfer was made in contemplation
of death.
KRS 140.020(3) reads as follows: There shall be no presumption of
contemplation of death as to certificates of deposit jointly owned and all
such certificates of deposit shall be taxed pursuant to KRS 140.050.
KRS 140.050 reads as follows: Whenever any real or personal property
is held jointly in the names of two (2) or more persons, or as tenants
by the entirety, or is deposited in banks or other depositories jointly in
the names of two (2) or more persons and is payable to either or to the
survivor upon the death of the other, the right of the surviving tenant by
the entirety or the surviving joint tenant or joint depositor to the immediate
ownership or possession and enjoyment of the property shall be deemed
a transfer of one-half (1/2) or other proper fraction thereof, taxable under
the provisions of this chapter in the same manner as though the part of
the property to which the transfer relates belonged to the tenants by the
entirety, joint tenants or joint depositors as tenants in common, and had
been bequeathed or devised to the surviving tenant by the entirety, joint
tenant or joint depositor by the deceased tenant by the entirety, joint
tenant or just depositor.
For stocks and bonds, a balance sheet, at a date nearest the decedent’s death,
together with a statement of net earnings and dividends paid for the five-year
period immediately preceding the date of death, must be supplied in support of
these valuations (ex. financial institution’s monthly statement.)

92A200 (6-16)

Estate of:

Qualified Terminable Interest Property and/or Powers of Appointment

Page ____ of ____

List in this schedule all items in which the decedent possessed a general power of appointment or property in which
a qualified terminable interest property election was made in a prior estate. (Please review instructions on reverse
side for details.)
Item
Number

Name of Prior Decedent/
Donor

Description of Property/Name of Corporation
or Obligor/ Name of Bank or Debtor

1.

Total (including continuation page(s)) (enter on page 1, line 3) ................................... ➤
If additional space is needed, duplicate this page and attach as a continuation page(s).

Fair Cash Value
on Date of Death
of Present Decedent

INSTRUCTIONS
QUALIFIED TERMINABLE INTEREST PROPERTY
AND/OR
POWERS OF APPOINTMENT

KRS 140.100(4) requires that the value of a surviving spouse’s interest in a power of appointment trust or
in qualified terminable interest property which was exempt as a part of the surviving spouse’s inheritable
interest in the first spouse’s estate pursuant to an election made under KRS 140.080(1)(a) is includable in
the surviving spouse’s estate.The property is includable at its value on the surviving spouse’s date of death.
The personal representative of the decedent’s estate is entitled to recover from the trust or life estate the
tax attributable to the trust unless the decedent directs otherwise in his will.
Powers of Appointment
All property passing under a power of appointment created by will, deed, trust agreement, contract, insurance policy or other instrument must be reported in this schedule whether or not the power of appointment
is exercised. For taxation of transfers by power of appointment, refer to KRS 140.040 and 140.100(4).
The method of computing the inheritance tax on any power of appointment property as described under
KRS 140.040 is irrelevant in both the donor’s and the donee’s estates when such property is elected to
be included in the surviving spouse’s total inheritable interest as property which qualifies for the federal
estate tax marital deduction under Section 2056(b)(5) or 2056(b)(7) of the Internal Revenue Code.
KRS 140.100(4) requires that the trust or life estate for which an election relates be included in the surviving spouse’s estate for Kentucky inheritance tax purposes at its value on the death of the surviving spouse
regardless of where spouse is domiciled. If the surviving spouse has the power to appoint the remaindermen of the qualified trust or life estate, the property is taxed to the remaindermen named in the surviving spouse’s will and the rates and exemptions are based on their relationship to the surviving spouse. If
the surviving spouse has no power to appoint the remaindermen of the qualified trust or life estate, the
property is taxed to the remaindermen named in the first spouse’s will and the rates and exemptions are
based on their relationship to the second spouse unless such rates and exemptions prove to increase the
tax liability. If this occurs, the beneficiary may use the rates and exemptions in effect at the death of the
first spouse. If the first decedent was a nonresident of Kentucky or died prior to July 1, 1985, the trust or
life estate is not includable in the surviving spouse’s estate.
Qualified Terminable Interest Property
For purpose of the spousal exemption, the term total inheritable interest may include at the election of the
personal representative (or trustee or transferee, if no personal representative) the entire value of a trust
or property in which the surviving spouse was devised a life estate and which otherwise qualifies for the
federal estate tax marital deduction under Section 2056(b)(5) or 2056(b)(7) of the Internal Revenue Code
of 1954, as amended through December 31, 1984. The election is irrevocable and must be made on Form
92A936 on or before the due date of the tax return (as extended) or with the first tax return filed, whichever
occurs last. It is not necessary that a similar election be made for purposes of the federal estate tax marital
deduction or that a Federal Estate and Gift Tax Return be filed. The effect of the election is that the property
(interest) will be treated as passing to the surviving spouse for purposes of the spousal exemption.

92A200 (6-16)

Estate of:

Previously Taxed Property

Page ____ of ____

List in this schedule all items owned by the decedent at death that were taxed in a prior estate and the prior decedent
having died within five years of this decedent’s date of death. (Please review instructions on reverse side for details.)
Item
Number

Name and Date
of Death of
Prior Decedent

Description of Property/Name of Corporation
or Obligor/ Name of Bank or Debtor

Amount of Tax
Previously Paid

1.

Total (including continuation page(s)) (enter on page 1, line 4) ......................................... ➤
If additional space is needed, duplicate this page and attach as a continuation page(s).

Fair Cash Value
on Date of Death
of Present Decedent

INSTRUCTIONS
PREVIOUSLY TAXED PROPERTY
(PRIOR DECEDENT TO IMMEDIATE DECEDENT WITHIN FIVE YEARS)
List all property owned by the immediate decedent at death that was taxed under
the Kentucky Inheritance and Estate Tax Law (KRS Chapter 140) and received from
a prior estate, the prior decedent having died within five years of the immediate
decedent’s date of death. Property listed in this schedule must be specifically identified as having been so taxed or as having been acquired in exchange for property
so taxed. All property correctly listed in this schedule is subject to a tax credit as
provided in KRS 140.095. Separate tax credit computations must be made if the
decedent paid tax in two or more prior estates.
Identify the property previously taxed and take full credit for the tax paid by the
immediate decedent in the prior estate. If full credit is not allowable, you will be
billed for the additional tax plus applicable interest, if due. The credit is taken on
the Tax Computation schedule as a part of this return.
The methods used in evaluating property listed in this schedule will be the same
as those used in evaluating like property listed in other schedules. Property listed
in this schedule must be valued as of the date of the immediate decedent’s death
and must not appear in any other schedule.
See page 3 of general information for an example.

92A200 (6-16)

Estate of:

Gifts and Transfers

Page ____ of ____

List in this schedule all gifts or transfers made within three years of the decedent’s date of death or when the decedent
retained a life interest. (Please review instructions on reverse side for details.)
Was life interest retained by the decedent?
Item
Number

To Whom Made

Yes

No

Description of
Property Transferred

Date of
Transfer

1.

Total (including continuation page(s)) (enter on page 1, line 5) ....................................... ➤
If additional space is needed, duplicate this page and attach as a continuation page(s).

Value at
Date of Death

INSTRUCTIONS
GIFTS AND TRANSFERS
Include all gifts and transfers of property in this schedule made by the decedent
within three years prior to death and any gift or transfer of property during
the decedent’s lifetime in which a life estate or the income was retained by
the decedent. If made by deed or trust, a copy of such instrument must be
attached. In the event the taxability of the gift or transfer is not included in the
taxable estate, submit details of the transfer and the reason for the exclusion.
To determine the proper taxation of gifts and transfers, refer to KRS 140.020
(see below). For reporting agricultural or horticultural land, see General
Information—Valuation of Property—Fair Cash and Agricultural.
KRS 140.020 reads in part as follows: (1) Any property or interest
therein, of which the decedent has made a transfer by trust or otherwise, in contemplation of or intended to take effect in possession
or enjoyment at or after death, including a transfer under which the
transferor has retained for his life or any period not ending before
his death (a) the possession or enjoyment of, or the income from
the property; or (b) the actual or contingent power to designate the
persons who shall possess the property or the income therefrom,
except in the case of a bona fide sale for an adequate and full consideration in money or money’s worth. It shall further apply to any
property conveyed in trust over which the settlor has a power of
revocation exercisable by will.
(2) Every transfer made within three (3) years prior to the death of
the grantor, vendor or donor of a material part of his estate, or in the
nature of a final disposition or distribution thereof, and without an adequate valuable consideration, shall be construed to have been made
in contemplation of death within the meaning of this chapter.

92A200 (6-16)

Estate of:

FUNERAL EXPENSES
List in this schedule the cost of the funeral, monument and maintenance of cemetery lot actually paid and not
reimbursed.
Description

To Whom Paid

Amount Paid

Funeral
Monument
Cemetery lot
Maintenance of lot
Other (specify)

Total funeral expenses (not to exceed $5,000) (including continuation page(s))
(enter on page 1, line 6) ........................................................................................................ ➤

ADMINISTRATION EXPENSES
List in this schedule administration expenses, including attorneys’ fees and commissions of executors and administrators, actually allowed and paid.
Description

To Whom Paid

Executors’/Administrators’ commissions
Attorneys’ fees
Appraisers’ fees
Other (specify)

Total administration expenses (including continuation page(s))
(enter on page 1, line 7) ........................................................................................................ ➤
Attach a separate sheet for additional expenses if needed.

Amount Paid

92A200 (6-16)

Estate of:

DEBTS OF DECEDENT (Please review instructions on reverse side for details.)
Item
Number

Creditor

Nature of Claim

Amount

1.

Total debts of decedent (including continuation page(s)) (enter on page 1, line 8) ........... ➤

FEDERAL ESTATE TAX
Check whether

paid or

estimated. (Detailed instructions are on reverse side.)

Total (enter on page 1, line 9) ................................................................................................... ➤

PROPERTY HAVING A SITUS OUTSIDE KENTUCKY (Detailed instructions are on reverse side.)
Location and Description
of Property

Fair Cash Value
at Date of Death

Mortgages and Taxes

Total (do not include on page 1) .............................................................................................. ➤

Net Value at
Date of Death

INSTRUCTIONS

DEBTS OF DECEDENT
Debts and taxes of the decedent paid by the personal representative are
deductible. Please provide supporting documents (ex. receipts, bills, etc.) Real
property taxes that were a lien against the decedent’s property at the date of
death are deductible. Indicate the decedent’s percentage of liability for debts
and taxes on jointly owned property. If the decedent is survived by a husband,
her debts, with the exception of taxes or mortgages on her real property, are
not deductible unless paid from the proceeds of her estate.
List in this schedule all mortgages and liens of the decedent. Indicate the decedent’s share of liability if mortgage is secured by jointly owned property.
Mortgages are not deductible to the extent secured by credit life insurance.
FEDERAL ESTATE TAX
The figure for this calculation should be obtained from the Federal Estate and
Gift Tax Return.
The federal estate tax is deductible in the proportion that the net estate in
Kentucky subject to the federal estate taxes bears to the total net estate
everywhere subject to federal estate taxes. This is calculated by dividing the
Kentucky net estate, before the federal estate tax deduction, by the federal
taxable estate including federal taxable gifts.
PROPERTY HAVING A SITUS OUTSIDE KENTUCKY
Show location, description and actual value, at date of death, of all decedent’s
property having a situs outside Kentucky. This information is necessary to
determine the amount of federal estate tax allowable as a deduction under
KRS 140.090(1)(d). List mortgages and taxes on property. Intangible property
located outside Kentucky is taxable and must be reported on the return if the
decedent was domiciled in Kentucky.

Distributive Share

Tax

IF A FEDERAL ESTATE AND GIFT TAX RETURN WAS REQUIRED TO BE FILED, ATTACH A COPY TO THIS RETURN

Total Tax Due (enter on page 1) ..................................................................................................................................................................... $

Less deferred payments (See general information) ..................................................................................................................................... –

Discount of 5% from tax if paid within 9 months from death...................................................................................................................... –

Inheritance tax ................................................................................................................................................................................................. $

Total distributive shares (must equal Net Estate, page 1) ............................................................................... $

$

Age

Total from continuation sheets .......................................................................................................................... $

Relationship
(If Any)

$

Social Security
Number

$

List Names of Heirs and Beneficiaries Including
Exempt Transfers. Itemize Shares of Property
Received. (See general information.)

TAX COMPUTATION SCHEDULE

Estate of: ___________________________________________________

92A200 (6-16)

Distributive Share

$

Age

Total to be entered on page 1 of Tax Computation Schedule ........................................................................... $

Relationship
(If Any)

$

Social Security
Number

$

List Names of Heirs and Beneficiaries Including
Exempt Transfers. Itemize Shares of Property
Received. (See general information.)

TAX COMPUTATION SCHEDULE (Continuation Sheet)

Estate of: ___________________________________________________

Tax

92A200 (6-16)