Form 740-Np - Kentucky Income Tax Return Nonresident Or Part-Year Resident - 2012 Page 47
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60spouse was legally blind at the end of the taxable year, also
INSTRUCTIONS FOR SCHEDULE A
check the last two boxes on Line 1(b).
FORM 740-NP
Dependents—You are allowed to claim a tax credit for each
person defined as a dependent in the Internal Revenue Code.
You may itemize your deductions for Kentucky even if you
Generally, dependents who qualify for federal purposes also
do not itemize for federal purposes. Amounts entered on
qualify for Kentucky.
Schedule A should be total deductions for the taxable period.
These amounts are prorated on Form 740-NP, page 1. If you
Line 2, Dependents Who Live With You
do not itemize, a standard deduction of $2,290 is allowed and
does not have to be prorated.
Use to claim tax credits for your dependent children, including
stepchildren and legally adopted children, who lived with you
Special Rules for Married Couples—If one spouse itemizes
during the taxable year. If the dependent meets the require-
deductions, the other must itemize. Married couples filing
ments for a qualifying child under the provisions of IRC 152(c),
a joint federal return and who wish to file separate returns
check the box; this child qualifies to be counted to determine
for Kentucky may: (a) file separate Schedules A showing the
the family size.
specific deductions claimed by each; (b) file a joint Schedule
A, divide the total deductions between them based on the
Dependents Who Did Not Live With You
percentage of each spouse's income to total income, and
attach a copy to each return; or (c) each spouse may claim
Also use Line 2 to claim tax credits for your dependent children
the standard deduction of $2,290.
who did not live with you and to claim tax credits for other
persons who qualify as dependents. These dependents do not
MEDICAL AND DENTAL EXPENSES
qualify to be counted to determine the family size.
Federal rules apply. You may deduct only your medical and
Children of Divorced or Separated Parents—Attach a copy of
dental expenses that exceed 7.5 percent of Form 740-NP, Line
federal Form 8332 filed with your federal return. Children may
8. Do not include any expenses deducted on Form 740-NP,
only be counted for family size by the custodial parent.
page 4, Section D, Column B, Line 31 or Line 32. Married
taxpayers filing separate Forms 740-NP who choose to file
Tax Credits for Individuals Supported by More Than One
one Schedule A and prorate the total must combine the Line
Taxpayer—Attach a copy of federal Form 2120 filed with your
8 amounts from both returns.
federal return.
TAXES
Kentucky National Guard Members—Persons who were mem-
bers of the Kentucky National Guard on December 31, 2012,
You may not deduct new motor vehicle taxes, sales tax, state
may claim an additional credit on Line 2. Designate this credit
or federal income taxes paid or withheld, otherwise federal
with the initials “N.G.” Kentucky law specifically restricts this
rules apply.
credit to Kentucky National Guard members; military reserve
members are not eligible.
INTEREST
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
SECTION C—FAMILY SIZE TAX CREDIT
a personal note held by a bank or individual.
Children may only be counted for family size by the custodial
parent. Even if you have signed federal Form 8332 and may
Interest paid on business debts should be deducted as
not claim the child as a dependent, you may count children
a business expense on the appropriate business income
who otherwise meet the requirements for the Family Size Tax
schedule.
Credit.
You may not deduct interest on an indebtedness of another
You must include in Section C the names and Social Security
person when you are not legally liable for payment of the
numbers of the qualifying children that are not claimed as
interest. Nor may you deduct interest paid on a gambling
dependents in Section B in order to count them in your total
debt or any other nonenforceable obligation. Interest paid
family size.
on money borrowed to buy tax-exempt securities or single
premium life insurance is not deductible.
Line 10—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.
SIGN RETURN—Be sure to sign on page 3 after completion of
pages 1, 2, 3 and 4 of your return. Each return must be signed
Line 11—List other interest paid on your home mortgage and
by the taxpayer. Joint and combined returns must be signed
not reported to you on federal Form 1098. Show name and
by both husband and wife. Returns that are not signed may
address.
be returned to you for signature.
Line 12—List points (including "seller-paid points") not
Please enter a telephone number where you can be reached
reported to you on federal Form 1098. Points (including loan
during regular working hours. You may be contacted for
origination fees) charged only for the use of money and paid
additional information needed to complete processing of
with funds other than those obtained from the lender are
your tax return.
deductible over the life of the mortgage. However, points
may be deducted in the year paid if all three of the following
13
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