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Kentucky Kentucky Individual Income Tax Return
Extracted from PDF file 2023-kentucky-form-740.pdf, last modified November 2023Kentucky Individual Income Tax Return
FORM 740 KENTUCKY INDIVIDUAL INCOME TAX RETURN Residents Only Commonwealth of Kentucky Department of Revenue Check if deceased: ¨ Spouse ¨ Taxpayer A. Spouse’s Social Security Number 2023 For calendar year or other taxable year beginning ________________, and ending ________________ . B. Your Social Security Number Name—Last, First, Middle Initial (Joint or combined return, give both names and initials.) Mailing Address (Number and Street including Apartment Number or P.O. Box) State City, Town or Post Office FILING STATUS (see instructions) 1 Single 2 Married, filing separately on this combined return. (If both had income.) 3 Married, filing joint return. 4 Married, filing separate returns. Enter spouse’s Social Security number above and full name here. ZIP Code POLITICAL PARTY FUND Check if applicable: Designating $2 will not change your refund or tax due. Amended (Enclose copy of 1040X, if applicable.) Democratic Republican No Designation A. Spouse B. Yourself (1) (4) (2) (5) (3) (6) A. B. Spouse (Use if Yourself Filing Status 2 is checked.) (or Joint) 5 Enter amount from federal Form 1040 or 1040-SR, line 11. (If total of Columns A and B is $39,900 or less, you may qualify for the Family Size Tax Credit. See instructions.)......................................................... 5 00 5 00 00 6 Additions from Schedule M, line 6......................................................................... 6 6 00 00 7 Add lines 5 and 6................................................................................................... 7 7 00 00 8 Subtractions from Schedule M, line 17.................................................................. 8 8 00 00 9 Subtract line 8 from line 7. This is your Kentucky Adjusted Gross Income........ 9 9 00 10 Itemizers: Enter itemized deductions from Kentucky Schedule A. 00 Nonitemizers: Enter $2,980 in Columns A and/or B............................................. 10 10 00 00 11 Subtract line 10 from line 9. This is your Taxable Income ................................... 11 11 00 00 .... 12 12 00 00 Schedule DS-R ; Angel Investor Recapture ......................................... 13 13 00 00 14 Add lines 12 and 13 and enter total here .............................................................. 14 14 00 00 15 Enter amounts from Schedule ITC, Section A, lines 25E and 25F........................ 15 15 00 00 16 Subtract line 15 from line 14. If line 15 is larger than line 14, enter zero............... 16 16 00 00 17 Enter personal tax credit amounts from Schedule ITC, Section B................................ 17 17 00 00 18 Subtract line 17 from line 16. If line 17 is larger than line 16, enter zero............... 18 18 00 19 Add tax amount(s) in Columns A and B, line 18 and enter here, continue to page 2...................................................... 19 00 12 Tax Computation: Multiply line 11 by 4.5% (.045) or amount from Schedule J 13 Enter tax from Form 4972-K ; Schedule RC-R ; 230001 42A740 (10-23) Page 1 of 3 FORM 740 (2023) Page 2 of 3 20 Check the box that represents your total family size (see instructions before completing lines 20 and 21)................. 20 1 2 3 4 21 Multiply line 19 by Family Size Tax Credit decimal amount __ . __ __ (__ __ __%) from Schedule ITC....................... 21 00 22 Subtract line 21 from line 19............................................................................................................................................ 22 00 23 Enter the Education Tuition Tax Credit from Form 8863-K, line 17.............................................................................. 23 00 x 20% (.20) 24 00 25 RESERVED..................................................................................................................................................................... 25 00 26 Income Tax Liability. Subtract lines 23 through 25 from line 22. If zero or less, enter zero.......................................... 26 00 27 Enter KENTUCKY USE TAX due on Internet, mail order, or other out-of-state purchases (see instructions).... 27 00 28 Add lines 26 and 27. This is your TOTAL TAX LIABILITY ............................................................................................. 28 00 29 For amended return; overpayment, if any, shown on original return............................................................................. 29 00 30 Add lines 28 and 29, enter here....................................................................................................................................... 30 00 24 Enter Child and Dependent Care Credit from federal Form 2441, line 11 31 a Enter Kentucky income tax withheld as shown on enclosed Schedule KW-2.................................................................................................. 31a 00 b Enter 2023 Kentucky estimated tax/extension payments.................................. 31b 00 c Enter 2023 refundable certified rehabilitation credit .......................................... 31c 00 d Enter 2023 refundable entertainment incentive tax credit.................................. 31d 00 e Enter 2023 refundable development area tax credit.......................................... 31e 00 f Enter 2023 refundable decontamination tax credit............................................ 31f 00 g Enter 2023 refundable pass-through entity tax credit from Form PTET-CR, line 9............................................................................... 31g 00 h For amended return; enter amount paid with original return plus additional payment(s) made after it was filed..................................................... 31h 00 32 Add lines 31(a) through 31(h).......................................................................................................................................... 32 00 33 If line 30 is larger than line 32, subtract line 32 from line 30, enter ADDITIONAL TAX DUE. ......................................... 33 00 34 a Estimated tax penalty Check if Form 2210-K attached..................... 34a 00 b Interest............................................................................................................... 34b 00 c Late payment penalty......................................................................................... 34c 00 d Late filing penalty............................................................................................... 34d 00 35 Add lines 34(a) through 34(d). Enter here....................................................................................................................... 35 00 36 If the total of lines 30 and 35 is more than line 32, subtract line 32 from the total of lines 30 and 35. OWE This is the AMOUNT YOU OWE, continue to page 3.................................................................................. 36 00 37 If line 32 is more than line 30, subtract lines 30 and 35 from line 32. This is the AMOUNT YOU OVERPAID, continue to page 3........................................................................................................................................................... 37 230002 42A740 (10-23) 00 FORM 740 (2023) Page 3 of 3 38 FUND CONTRIBUTIONS; see instructions. a Nature and Wildlife Fund................................................................................... 38a 00 b Child Victims’ Trust Fund................................................................................... 38b 00 c Veterans’ Program Trust Fund........................................................................... 38c 00 d Breast Cancer Research/Education Trust Fund................................................ 38d 00 e Farms to Food Banks Trust Fund...................................................................... 38e 00 f Local History Trust Fund.................................................................................... 38f 00 g Special Olympics Kentucky................................................................................ 38g 00 h Pediatric Cancer Research Trust Fund.............................................................. 38h 00 i Rape Crisis Center Trust Fund ........................................................................ 38i 00 j Court Appointed Special AdvocateTrust Fund................................................... k YMCA Youth Association Fund.......................................................................... 38k 00 38j 00 39 Add lines 38(a) through 38(k).......................................................................................................................................... 39 00 CREDIT FORWARD 40 Amount of line 37 to be CREDITED TO YOUR 2024 ESTIMATED TAX ............................. 40 00 (Credit forwards not available for amended returns) REFUND 00 41 Subtract lines 39 and 40 from line 37. Amount to be REFUNDED TO YOU ....................................... 41 I, the undersigned, declare under penalties of perjury that I have examined this return, including all accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. I also understand and agree that our election to file a combined return under the provisions of Regulation 103 KAR 17:020 will result in refunds being made payable to us jointly and in each of us being jointly and severally liable for all taxes accruing under this return. Sign Here Paid Preparer Use Signature of Taxpayer Driver’s License/State Issued ID No. Date Signature of Spouse Driver’s License/State Issued ID No. Date Signature of Preparer Date Name of Preparer or Firm ID Number Email Telephone No. Telephone Number (daytime) May the DOR discuss this return with this preparer? ¨ ¨ Yes No Enclose Include a complete copy of federal Form 1040, if you received farm, business, or rental income or loss. If not required, check here. Refund or No Payment Kentucky Department of Revenue Frankfort, KY 40618-0006 Payment Check Payable: Kentucky State Treasurer E-Pay Options: www.revenue.ky.gov Include: Your Social Security number and “KY Income Tax—2023” With Payment Kentucky Department of Revenue Frankfort, KY 40619-0008 230040 42A740 (10-23)
Form 740
More about the Kentucky Form 740 Individual Income Tax Tax Return TY 2023
Form 740 is the Kentucky income tax return for use by all taxpayers. This PDF packet includes Form 740, supplemental schedules, and tax instructions combined in one document, updated for the 2011 tax year.
We last updated the Kentucky Individual Income Tax Return in January 2024, so this is the latest version of Form 740, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 740 directly from TaxFormFinder. You can print other Kentucky tax forms here.
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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 Form 740.
| Form Code | Form Name |
|---|---|
| Schedule M (740) | Kentucky Federal Adjusted Gross Income Modifications |
| Form 740-ES | Estimated Income Tax Return |
| Form 740-NP | Kentucky Individual Income Tax Return Nonresident or Part-Year Resident |
| Form 740-NP-R | Kentucky Income Tax Return Nonresident-Reciprocal State |
| Form 740-V | Electronic Filing Payment Voucher |
| Schedule A (740) | Kentucky Itemized Deductions |
| Form 740-EZ | Kentucky Simple Individual Income Tax Return (OBSOLETE) |
| Form 740NP-WH-EXT | Application for Six-Month Extension of Time to File (Nonresident) |
| Form 740-EXT | Application for Extension of Time to File |
| 740-ES Instructions | Estimated Income Tax Instructions |
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 Form 740 from the Department of Revenue in January 2024.
Form 740 is a Kentucky Individual Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
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 Form 740
We have a total of eleven past-year versions of Form 740 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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