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Kentucky Free Printable  for 2024 Kentucky Itemized Deductions for Nonresidents or Part-Year Residents

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Itemized Deductions for Nonresidents or Part-Year Residents
Schedule A (740-NP)

FORM 740-NP KENTUCKY ITEMIZED DEDUCTIONS Nonresidents or Part-Year Residents Only SCHEDULE A Commonwealth of Kentucky Department of Revenue Enter name(s) as shown on Form 740-NP, page 1. Interest Expense 2023 Social Security Number   1 Home mortgage interest and points reported to you on federal Form 1098............................................................................................... 1 00  2 Home mortgage interest not reported to you on federal Form 1098 (if paid to an individual, provide that person’s name, identifying number, and address) 2 00   3 Points not reported to you on federal Form 1098 ............................................... 3 00  4 RESERVED......................................................................................................... 4 00   5 Investment interest (enclose federal Form 4952 if required)............................... 00 5  6 Total Interest. Add the amounts on lines 1 through 5. Enter here...................................................... 6   7 Contributions by cash or check.......................................................................... 7 00 00 Contributions   8 Other than cash or check (enclose federal Form 8283 Note: For any contribution of $250 or more, see instructions. if over $500)........................................................................................................ 8   9 Carryover from prior year.................................................................................... 9 00 00 10 Total Contributions. Add the amounts on lines 7 through 9. Enter here........................................... 10 11 Gambling losses................................................................................................. 11 12 Other (see instructions) Other Miscellaneous Deductions 12 00 00 00 13 Total Other Miscellaneous Deductions. Add the amounts on lines 11 and 12. Enter here.............. 13 00 Total Itemized Deductions 14 Add the amounts on lines 6, 10, and 13. Enter here........................................................................... 14 00 NOTE: If married filing separate returns, or spouse is not filing a Kentucky return, complete lines 15 through 18 below. If single or married filing jointly, enter total deductions (line 14 above) on Form 740-NP, page 1, line 11. 15 Enter your income from Form 740-NP, page 1, line 8...................................................................... 15 16 Enter joint or combined federal Adjusted Gross Income.................................................................. 16 00 00 17 Divide line 15 by line 16. Enter percentage.......................................................................................................................... 17 % 18 Multiply line 14 by line 17. This is your portion of total itemized deductions. Enter here and on Form 740-NP, page 1, line 11....................................................................................................................................... 18 230014 42A740-NP-A (10-23) Page 1 of 4 00 Form 740-NP (2023) Schedule A Instructions for Schedule A You may itemize your deductions for Kentucky even if you do not itemize for federal purposes. Amounts entered on Schedule A should be total deductions for the taxable period. These amounts are prorated on Form 740-NP, page 1. If you do not itemize, you may elect to take a standard deduction of $2,980 and it does not have to be prorated. Special Rules for Married Couples—If one spouse itemizes deductions, the other must itemize. Married couples filing a joint federal return and who wish to file separate returns for Kentucky may: (a) file separate Schedules A showing the specific deductions claimed by each; (b) file a joint Schedule A, divide the total deductions between them based on the percentage of each spouse's income to total income, and enclose a copy with each return; or (c) each spouse may claim the standard deduction of $2,980. Lines 1 through 6—Interest Expense You may deduct interest that you have paid during the taxable year on a home mortgage. You may not deduct interest paid on credit or charge card accounts, a life insurance loan, an automobile or other consumer loan, delinquent taxes or on a personal note held by a bank or individual. Interest paid on business debts should be deducted as a business expense on the appropriate business income schedule. You may not deduct interest on an indebtedness of another person when you are not legally liable for payment of the interest. Nor may you deduct interest paid on a gambling debt or any other nonenforceable obligation. Interest paid on money borrowed to buy tax-exempt securities or single premium life insurance is not deductible. Line 1—List the interest and points (including "seller-paid points") paid on your home mortgage to financial institutions and reported to you on federal Form 1098. Line 2—List other interest paid on your home mortgage and not reported to you on federal Form 1098. Show name and address. Line 3—List points (including "seller-paid points") not reported to you on federal Form 1098. Points (including loan origination fees) charged only for the use of money and paid with funds other than those obtained from the lender are deductible over the life of the mortgage. However, points may be deducted in the year paid if all three of the following apply: (1) the loan was used to buy, build or improve your main home, and was secured by that home, (2) the points did not exceed the points usually charged in the area where the loan was made, and were figured as a percentage of the loan amount, and (3) if the loan was used to buy or build the home, you must have provided funds (see below) at least equal to the points charged. If the loan was used to improve the home, you must have paid the points with funds other than those obtained from the lender. Funds provided by you include down payments, escrow deposits, earnest money applied at closing, and other amounts actually paid at closing. They do not include amounts you borrowed as part of the overall transaction. Page 2 of 4 Seller-Paid Points—If you are the buyer, you may be able to deduct points the seller paid in 2023. You can do this if the loan was used to buy your main home and the points meet item 2 above. You must reduce your basis in the home by those points, even if you do not deduct them. The seller cannot deduct these points as interest. However, they are a selling expense that reduces the amount realized by the seller. See federal Publication 523 for information on selling your home. This generally does not apply to points paid to refinance your mortgage. Federal rules apply. See federal Publication 936 for more information. Line 4, RESERVED Line 5, Interest on Investment Property—Investment interest is interest paid on money you borrowed that is allocable to property held for investment. It does not include any interest allocable to a passive activity or to securities that generate tax-exempt income. Complete and enclose federal Form 4952, Investment Interest Expense Deduction, to figure your deduction. Exception. You do not have to file federal Form 4952 if all three of the following apply (a) Your investment interest is not more than your investment income from interest and ordinary dividends (b) You have no other deductible investment expenses and (c) You have no disallowed investment expense from 2022 Lines 7 through 10—Contributions You may deduct what you actually gave to organizations that are religious, charitable, educational, scientific or literary in purpose. You may also deduct what you gave to organizations that work to prevent cruelty to children or animals. In general, contributions deductible for federal income tax purposes are also deductible for Kentucky. Examples of qualifying organizations are: Churches, temples, synagogues, Salvation Army, Red Cross, CARE, Goodwill Industries, United Way, Boy Scouts, Girl Scouts, Boys and Girls Clubs of America, etc. Page 3 of 4 your cash contributions or contributions of ordinary income property are more than 30 percent of your Kentucky Adjusted Gross Income, your gifts of capital gain property to certain organizations are more than 20 percent of your Kentucky Adjusted Gross Income, or you gave gifts of property that increased in value, made bargain sales to charity, or gave gifts of the use of property, you expect to receive any state or local tax credit for a contribution made. You MAY NOT Deduct as Contributions Travel expenses (including meals and lodging) while away from home unless there was no significant element of personal pleasure, recreation or vacation in the travel. Political contributions. Dues, fees or bills paid to country clubs, lodges, fraternal orders or similar groups. Value of any benefit, such as food, entertainment or merchandise that you received in connection with a contribution to a charitable organization. Cost of raffle, bingo or lottery tickets. If you contributed to a qualifying charitable organization and also received a benefit from it, you may deduct only the amount that is more than the value of the benefit you received. Cost of tuition. Value of your time or service. Value of blood given to a blood bank. Contributions You MAY Deduct Contributions may be in cash, property or out-of-pocket expenses you paid to do volunteer work for the kinds of organizations described above. If you drove to and from the volunteer work, you may take 14 cents a mile or the actual cost of gas and oil. Add parking and tolls to the amount you claim under either method. (Do not deduct any amounts that were repaid to you.) The transfer of a future interest in tangible personal property (generally, until the entire interest has been transferred). Gifts to: Note: You are required to maintain receipts, cancelled checks or other reliable written documentation showing the name of the organization and the date and amount given to support claimed deductions for charitable contributions. Civic leagues, social and sports clubs, labor unions, and chambers of commerce. Fraternal orders if the gifts will be used for the purposes listed above. Veterans’ and certain cultural groups. Nonprofit schools, nonprofit hospitals and medical research organizations. Federal, state and local governments if the gifts are solely for public purposes. Separate contributions of $250 or more require written substantiation from the donee organization in addition to your proof of payment. It is your responsibility to secure substantiation. A letter or other documentation from the qualifying charitable organization that acknowledges receipt of the contribution and shows the date and amount constitutes a receipt. This substantiation should be kept in your files. Do not send it with your return. See federal Publication 526 for special rules that apply if: your total contributions exceed 60 percent of Kentucky Adjusted Gross Income, If a Kentucky Net Operating Loss Deduction (KNOLD) is present, you must figure your Kentucky Adjusted Gross Income without the KNOLD before applying the 60% limitation.  740, line 7 less Schedule M, line 15 equals your Kentucky Adjusted Gross Income without KNOLD. your total deduction for gifts of property is over $500, you gave less than your entire interest in the property, Individuals. Foreign organizations. Groups that are run for personal profit. Groups whose purpose is to lobby for changes in the laws. Contributions for which you receive any state or local tax credit of more than 15% of the contribution. Line 7—Enter all of your contributions paid by cash or check (including out-of-pocket expenses). Line 8—Enter your contributions of property. If you gave used items, such as clothing or furniture, deduct their fair market value at the time you gave them. Fair market value is what a willing buyer would pay a willing seller when neither has to buy or sell and both are aware of the conditions of the sale. If your total deduction for gifts of property is more than $500, you must complete and enclose federal Form 8283, Noncash Charitable Contributions. If your total deduction is over $5,000, you may also have to obtain appraisals of the values of the donated property. See federal Form 8283 and its instructions for details. Also include the value of a leasehold interest property contributed to a charitable organization to provide temporary housing for the homeless. Enclose Schedule HH. Recordkeeping—If you gave property, you should keep a receipt or written statement from the organization you gave the property to, or a reliable written record, that shows the organization’s name and address, the date and location of the gift and a description of the property. You should also keep reliable written records for each gift of property that include the following information: (a) How you figured the property’s value at the time you gave it. (If the value was determined by an appraisal, you should also keep a signed copy of the appraisal.) Page 4 of 4 Line 11— Gambling Losses—You may deduct gambling losses to the extent of your winnings reported on Form 1040 or 1040–SR, Schedule 1, line 8(b). Line 12—Other Miscellaneous Deductions Use this line to report miscellaneous deductions. Only the expenses listed below can be deducted on line 12. (b) The cost or other basis of the property if you must reduce it by any ordinary income or capital gain that would have resulted if the property had been sold at its fair market value. Federal estate tax on income in respect of a decedent. Amortizable bond premium on bonds acquired before October 23, 1986. (c) How you figured your deduction if you chose to reduce your deduction for gifts of capital gain property. Deduction for repayment of amounts under a claim of right if more than $3,000. See federal Publication 525. (d) Any conditions attached to the gift. Unrecovered investment in a pension. (e) If the gift was a “qualified conservation contribution” under IRC Section 170(h), the fair market value of the underlying property before and after the gift, the type of legal interest donated and the conservation purpose furthered by the gift. List the type and amount of each expense. Enter one total on line 12. For more information on these expenses, see federal Publication 529. Line 9—Enter any carryover of contributions that you were not able to deduct in an earlier year because they exceeded your adjusted gross income limit. See federal Publication 526 for details on how to figure your carryover. Dividing Deductions Between Spouses—Married taxpayers combining itemized deductions must divide the itemized deductions if filing separate Kentucky returns or if one spouse is not filing a Kentucky return. Complete lines 15 through 18, Schedule A. Line 14—Total Itemized Deductions
Extracted from PDF file 2023-kentucky-schedule-a-740-np.pdf, last modified September 2023

More about the Kentucky Schedule A (740-NP) Individual Income Tax Nonresident TY 2023

We last updated the Itemized Deductions for Nonresidents or Part-Year Residents in February 2024, so this is the latest version of Schedule A (740-NP), fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule A (740-NP) directly from TaxFormFinder. You can print other Kentucky tax forms here.

Related Kentucky Individual Income Tax Forms:

TaxFormFinder has an additional 129 Kentucky income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Kentucky Schedule A (740-NP).

Form Code Form Name
Schedule A (740) Kentucky Itemized Deductions
Schedule A Apportionment and Allocation for corporations and pass-through entities taxable both within and without Kentucky - Schedule 41A720A
Schedule A-C (DISCONTINUED) Apportionment and Allocation - Continuation Sheet for Corporations and pass-through entities taxable both within and without Kentucky
Schedule A-N Apportionment Factor Schedule for a Nexus Consolidated Tax Return (DISCONTINUED)

Download all KY tax forms View all 130 Kentucky Income Tax Forms


Form Sources:

Kentucky usually releases forms for the current tax year between January and April. We last updated Kentucky Schedule A (740-NP) from the Department of Revenue in February 2024.

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Schedule A (740-NP) is a Kentucky Individual Income Tax form. Many states have separate versions of their tax returns for nonresidents or part-year residents - that is, people who earn taxable income in that state live in a different state, or who live in the state for only a portion of the year. These nonresident returns allow taxpayers to specify which which income is subject to the state's taxes, and which is not.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Kentucky Schedule A (740-NP)

We have a total of nine past-year versions of Schedule A (740-NP) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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