Form 8863-K - Kentucky Education Tuition Tax Credit - 2013 Page 2
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3FORM 8863-K (2013)
Page 2
*1300030045*
42A740-S24
PART IV—Allowable Education Credits
8.
Enter tentative Kentucky Education Credits from page 1, line 7 ..................................................... 8
9.
Enter: $127,000 if married filing jointly or married filing separately on a combined return;
$63,000 if single ............................................................................................ 9
10. Enter the amount from Form 1040, line 37, or Form 1040A, line 21 ........ 10
11. Subtract line 10 from line 9. If zero or less, STOP; you cannot take
any education credits for Kentucky ............................................................. 11
12. Enter $20,000 if married filing jointly or married filing separately
on a combined return; $10,000 if single .................................................... 12
13. If line 11 is equal to or more than line 12, enter the amount from line 8
on line 14 and go to line 15. If line 11 is less than line 12, divide line 11
.
by line 12. Enter the result as a decimal (rounded to at least three places) ................................... 13
X
14. Multiply line 8 by the decimal amount on line 13 and enter here ................................................... 14
15. Multiply the amount on line 14 by 25% (.25) and enter total here .................................................. 15
16. Enter tentative tax from Form 740 or Form 740-NP, page 1, line 22 ............................................... 16
17. Enter amount from Part V, line 37. If Part V, line 37 is blank, enter -0- ........................................... 17
18. Subtract line 17 from line 16 .............................................................................................................. 18
19. Enter the smaller of line 18 or line 15 ................................................................................................ 19
20. Add lines 17 and 19. Enter here and on Form 740 or Form 740-NP, line 23.
This is your allowable 2013 education credit .................................................................................... 20
21. If line 18 is smaller than line 15, subtract line 18 from line 15. This is the amount
of unused credit carryforward from 2013 to 2014. Enter here and on the 2013 Carryforward
Worksheet, Line E, provided below ................................................................................................... 21
PART V—Credit Carryforward from Prior Years
22. Enter tentative tax from Form 740 or Form 740-NP, page 1, line 22 ............................................... 22
23. Enter your credit carryforward from 2008 ......................................................................................... 23
24. Enter your credit carryforward from 2009 ......................................................................................... 24
25. Enter your credit carryforward from 2010 ......................................................................................... 25
26. Enter your credit carryforward from 2011 ......................................................................................... 26
27. Enter your credit carryforward from 2012 ......................................................................................... 27
28. Add lines 23 through 27 and enter total here ................................................................................... 28
29. Subtract line 23 from line 22. If zero or less, enter -0- ...................................................................... 29
30. Enter 2009 credit carryforward to 2014. Subtract line 29 from line 24. If zero or less, enter -0- .. 30
31. Subtract line 24 from line 29. If zero or less, enter -0- ...................................................................... 31
32. Enter 2010 credit carryforward to 2014. Subtract line 31 from line 25. If zero or less, enter -0- .. 32
33. Subtract line 25 from line 31. If zero or less, enter -0- ...................................................................... 33
34. Enter 2011 credit carryforward to 2014. Subtract line 33 from line 26. If zero or less, enter -0- .. 34
35. Subtract line 26 from line 33. If zero or less, enter -0- ...................................................................... 35
36. Enter 2012 credit carryforward to 2014. Subtract line 35 from line 27. If zero or less, enter -0- .. 36
37. Enter the smaller of line 22 or line 28 ................................................................................................ 37
2013 Carryforward Worksheet
A. From Part V, Line 30, 2009 to 2014 _____________
B. From Part V, Line 32, 2010 to 2014 _____________
C. From Part V, Line 34, 2011 to 2014 _____________
D. From Part V, Line 36, 2012 to 2014 _____________
E. From Part IV, Line 21, 2013 to 2014 _____________
If you have a carryforward of credit, maintain a copy of this worksheet or Form 8863-K for your records.
This information will be needed to prepare future returns.
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