Kentucky Individual Income Tax Forms - Kentucky Department Of Revenue - 2012 Page 58
Download a blank fillable Kentucky Individual Income Tax Forms - Kentucky Department Of Revenue - 2012 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Kentucky Individual Income Tax Forms - Kentucky Department Of Revenue - 2012 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76Instructions for Schedule M—Modifications to Federal Adjusted Gross Income
elected the 20 percent capital gains rate for federal income
Additions to Federal Adjusted Gross Income
tax purposes (Schedule P and Form 4972-K required);
Line 1—Interest on securities issued by other states and
•
any mortgage debt forgiven under the Mortgage
their political subdivisions is taxed by Kentucky and must
Forgiveness Debt Relief Act of 2007;
be reported. Also report dividends received from regulated
•
the passive activity loss adjustment (see Form 8582-K and
investment companies (mutual funds) that are taxable for
instructions);
Kentucky income tax purposes. Note: Interest from securities
•
differences in pension (3-year recovery rule) and IRA
of Kentucky and its political subdivisions is exempt.
bases;
Line 2—Enter the self-employed health insurance deduction
•
differences in gains (losses) from the sale of intangible
from federal Form 1040, Line 29.
assets amortized under the provisions of the Revenue
Reconciliation Act of 1993; and
Line 3—Enter resident adjustment from Kentucky Schedule
•
differences in gains (losses) from the sale of depreciable
K-1. Partners, beneficiaries of estates and trusts and S
property placed in service after September 10, 2001.
corporation shareholders, see Kentucky Schedule K-1
instructions.
Note: Before entering the difference on Line 7 you must take
Line 4—Enter total depreciation from federal Form 4562
into account any addition or subtraction affecting the at–risk
if you have elected to take the 30 percent or 50 percent
limitations. See instructions for Line 19.
special depreciation allowance or the increased Section 179
deduction for property placed in service after September 10,
Line 8, Total Additions—Add Lines 1 through 7. Enter on
2001. See Line 16 for additional instructions.
Line 8 and on Form 740, page 1, Line 6.
Line 5—Enter federal net operating loss reported on Line 21
Subtractions from Federal Adjusted Gross Income
of 2012 federal Form 1040.
Line 9—Enter the amount of taxable state income tax refund
Line 6—Enter federal domestic production activities deduction
or credit reported on your federal return and included as
from federal Form 8903, line 25.
income on Form 740, page 1, Line 5.
Line 7—Enter other additions to federal adjusted gross
income not listed above (attach detailed schedule).
Line 10—Enter interest income from U.S. government
Include:
bonds and securities. Do not include taxable interest from
•
securities, such as FNMA (Fannie Mae), GNMA (Ginnie Mae)
Reservists and National Guard expenses reported on
and FHLMC (Freddie Mac), which are merely guaranteed by
federal Form 1040, line 24;
•
the U.S. government.
the portion of a lump-sum distribution on which you have
Line 11, Pension Income Exclusion—The 2012 exclusion amount is 100 percent of taxable retirement benefits or $41,110, whichever
is less. All pension and retirement income paid under a written retirement plan (qualified or unqualified) is eligible for exclusion.
This includes pensions, annuities, IRA accounts, 401(k) and similar deferred compensation plans, income received from convert-
ing a regular IRA to a Roth IRA, death benefits, disability retirement benefits and other similar accounts or plans.
This exclusion is for each taxpayer and must be computed independently of your spouse who may be filing on the same return. A
husband and wife must complete and claim their own exclusion, regardless of filing status. Joint filers—Combine the separately
computed pension exclusion amounts and enter on Schedule M, Line 11, Column B.
Pension Income Exclusion Worksheet
Column A
Column B
Step 1.
Spouse
Yourself
a. Enter taxable pension income reported on your federal Form 1040,
Line 15(b) or 16(b); Form 1040A, Line 11(b) or 12(b) ................................................. a
b. Enter disability retirement benefits on Form 1040, Line 7 or
Form 1040A, Line 7 ....................................................................................................... b
c. Enter deferred compensation reported on Form 1040, Line 7 or
Form 1040A, Line 7 ....................................................................................................... c
d. Add Lines a, b and c ..................................................................................................... d
Step 2. Line d is $41,110 or less. Enter the amount from Line d on Schedule M, Line 11.
Step 3. Line d is more than $41,110. Do you have retirement income from the
federal government, the Commonwealth of Kentucky or a Kentucky local
government; or supplemental U.S. Railroad Retirement Board benefits? ........................
Yes
No
Yes
No
If you answered no, enter $41,110 on Schedule M, Line 11.
If you answered yes, you must complete Schedule P to determine your pension
exclusion.
20
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form Inc 251 - Application For Extension Of Time To File Individual Income Tax Return - Tennessee Department Of Revenue
Financial
Form Il-1040-v - Payment Voucher For Individual Income Tax (1999) - Illinois Department Of Revenue
Financial
Form Ar1000a Instructions - Amended Individual Income Tax Return - Arkansas Department Of Revenue
Financial
Related Categories
Parent category: Financial