Schedule Hh (Form 41a720hh) - Kentucky Housing For Homeless Families Deduction

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SCHEDULE HH
Taxable Year Ending
*1400010226*
__ __ / __ __
41A720HH (10-14)
Commonwealth of Kentucky
Mo.
Yr.
DEPARTMENT OF REVENUE
K
H
F
ENTUCKY
OUSING
OR
H
F
D
OMELESS
AMILIES
EDUCTION
➤ Attach to Form 720, 720S, 740, 740-NP , 741, 765 or 765-GP .
KRS 141.0202
Federal Identification
Name of Entity
Kentucky Corporation/LLET
Number
Account Number (if applicable)
__ __ __ __ __ __
__ __ __ __ __ __ __ __ __
Complete a separate Schedule HH for each dwelling unit donated.
A. Organization to which property was donated
B.
Date property donated to above organization
C.
Type of unit donated:
single family dwelling
unit within multiple family facility
D. If multiple family facility, indicate total number of units in the facility
number of units donated
COMPUTATION OF DEDUCTION
Donated
Comparable
Comparable
Comparable
Property
Property A
Property B
Property C
1. City and state ...............
1
2. Street address ..............
2
3. Description of property
3
4. Rooms...........................
4
5. Square footage ............
5
6. Monthly rent ................
00
00
6
00
7.
Average monthly rent of Comparable Properties A, B, C ..........................................................................................
7
00
8. If property rented within 6 months of date donated, enter last monthly rent received .........................................
8
00
9. Monthly value of interest in property. Enter lesser of line 7 or line 8. (If line 8 is zero, enter line 7.) ....................
9
00
10. Number of months in taxable year that donated property was occupied by homeless family .............................
10
00
11.
Amount of deduction. Multiply line 9 by line 10. Enter here and on appropriate line of tax return .....................
11
00
Purpose of Schedule—This schedule is used to determine the
Line 4—Use abbreviations to list the rooms included in each
dwelling such as, b.r. for bedroom, bth. for bathroom, l.r. for
amount of deduction allowed by KRS 141.0202 for the value
living room, etc.
of leasehold interest in property contributed to a charitable
organization to be used to provide temporary living quarters for
Line 5—Enter total square footage of living space.
a homeless family. A separate Schedule HH must be submitted
for each dwelling unit donated.
Lines 6 and 8—The monthly rental amounts to be entered on
Contributions Qualifying for Deduction—Effective for tax years
these lines must be net of any charge or fees for utilities or
beginning after December 31, 1989, contributions of property to
other services.
a charitable organization qualify for this deduction if the property
is used to provide temporary living quarters for a homeless
Line 10—KRS 141.0202 allows a deduction in the amount of
family when:
the monthly value of the leasehold interest multiplied by the
number of months during which the property is occupied for a
1. the homeless family has demonstrated a need for a fixed,
substantial portion of the month by a homeless family. For this
regular and adequate night time residence; and
purpose, “substantial” means more than one-half. Therefore,
2. the homeless family does not occupy the dwelling for a period
based on the statement supplied by the charitable organization,
in excess of one year.
determine the total number of months during the year that the
property was occupied for more than one-half of the month and
Information Necessary to Substantiate the Deduction—In
enter the total on this line.
addition to the information requested on this schedule, the
following information must be attached to this schedule:
Line 11—The amount from Line 11, or the total of the amounts
1. proof that during the taxable year the dwelling meets the
from Line 11 if more than one Schedule HH is being filed, must be
habitability standards prescribed by the state or political
entered on the appropriate tax return as follows: (i) a corporation
subdivision in which the dwelling is located; and
filing Form 720, enter on Schedule O-720, Part II, Line 6; (ii) a limited
liability pass-through entity filing Form 720S or Form 765, enter
2. copy of statement supplied by the charitable organization
on Schedule K, Line 7 or Line 8, respectively; (iii) a pass-through
reflecting the dates during the year the dwelling was occupied
entity filing Form 765-GP , enter on Schedule K, Line 8; (iv) an
by each homeless family.
individual filing Form 740 or Form 740-NP , include the amount
Example: Family 1—from 1/5/12 to 1/15/12
in the charitable contributions deduction on Schedule A; or (v) a
Family 2—from 1/25/12 to 2/28/12, etc.
fiduciary filing Form 741, enter on Schedule A, Line 1.
Federal Identification Number—For an individual, enter the Social
Important: For Kentucky purposes, this deduction is a special
Security number; for all other entities, enter the FEIN.
deduction which may be greater than any ordinary charitable
contribution deduction allowed for the property and is not
SPECIFIC INSTRUCTIONS
subject to the percentage limitation provided by IRC Section
Line 3—The description of the properties should be very brief
170. However, in accordance with KRS 141.010(11) and (13)(d),
and general such as, 1 b.r. house, eff. apt., 1 b.r. apt., etc.
the same item may not be deducted more than once.

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