CS 245i Kentucky
User Manual: CS 245i
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Ultratax CS™
KENTUCKY STATE PRODUCTS
The UltraTax CS programs for Kentucky work together with the
federal UltraTax CS programs, reducing state tax return preparation
to a few keystrokes—and a few short minutes.
By taking full advantage of the integration capabilities of
CS Professional Suite, your firm can reach maximum efficiency,
productivity, and accuracy.
KY
STATE PRODUCT PROFILE
• Kentucky Individual
• Kentucky Corporate (includes S Corp)
• Kentucky Partnership
• Kentucky Property Tax
• Kentucky Fiduciary
continued >
*Denotes non-calculating form
**Denotes 1120 Consolidated form
UltraTax CS state programs automatically capture all
appropriate federal data and calculate the state tax results.
You enter data only once to complete both returns, simply
and efficiently.
The Kentucky line-up for UltraTax CS includes the Kentucky
Individual, Corporate (includes S Corp), Partnership, Property
Tax, and Fiduciary programs.
ULTRATAX/1040
Multi-state processing
UltraTax/1040 has extensive multi-state processing capabilities
with the ability to process several states from one set of
federal data.
KENTUCKY INDIVIDUAL
Kentucky Forms and Schedules
Form 725—Kentucky Single Member LLC Corporation
Income Tax Return and Supporting Schedules
Form 740—Kentucky Individual Income Tax Return
Form 740-NP—Nonresident/Part-year Resident Return
Form 2210-K—Underpayment of Estimated Tax by Individuals
Form 40A102—Application for Extension of Time for Filing
Individual, Partnership &Fiduciary Income Tax Returns
Form 4972-K—Kentucky Tax on Lump-sum Distributions
Form 5695-K—Energy Efficiency Product Tax Credit
Form 740-ES—Kentucky Estimated Tax Voucher
Form 740-NP-R—Nonresident-Reciprocal State
Form 740-V—Kentucky Electronic Payment Voucher
Form 740-X—Amended Kentucky Individual Income Tax Return
Form 8453-K —Electronic Filing Declaration
Form 8582-K—Kentucky Passive Activity Loss Limitations
Form 8863-K—Kentucky Education Tuition Tax Credit
Form 12A200—Kentucky Individual Income Tax Installment
Agreement Request
Schedule A (740)—Kentucky Schedule A Itemized Deductions
Schedule A (740-NP)—Kentucky Schedule A Itemized Deductions
Schedule KNOL—Kentucky Net Operating Loss Schedule
Schedule J (740)—Kentucky Farm Income Averaging
Schedule M (740)—Kentucky Federal Adjusted Gross
Income Modifications
Schedule ME —Moving Expense Reimbursement
Schedule P (740)—Kentucky Pension Income Exclusion
Schedule UTC*—Unemployment Tax Credit
Form 2106 (Kentucky Version)—Employee Business Expense
Form 4562 (Kentucky Version)—Depreciation and Amortization
Kentucky City Forms and Schedules
Form 1*—City of Richmond Net Profits License Return
Form 228—Lexington-Fayette Urban County Government Net
Profits License Fee Return
Form 228 ENP—Lexington Estimate Tax Vouchers
Form 228-S—Board of Education of Fayette County Net Profits
Occupational License Tax Return.
Form 211-22*—Lexington-Fayette Application for Refund
Form 211-T*—Schedule of Earnings Outside of Fayette County
Form FOL-7*—Fayette County Public Schools Claim for Refund
of Overpayment Occupational License Tax Withheld for Schools
Form 245-S*—Board of Education of Fayette County Annual
Fayette County Resident Individual License Tax Return
Form OL-3—Louisville-Jefferson Occupational License Return
Form OL-3E—Louisville-Jefferson Extension Request
and/or Estimated Payments
Form OL-3(D)—Louisville-Jefferson Quarterly Net Profit
Deposit Form
Louisville-Jefferson Application for Employee Refund
of Occupational Taxes Withheld*
KENTUCKY CORPORATE
With the UltraTax/1120 Kentucky program, you can process
both C and S Corporation returns.
Kentucky Forms and Schedules
Form 720—Kentucky Corporation Income Tax and LLET Return
Form 720S—Kentucky S Corporation Income Tax and
LLET Return
Schedule A—Apportionment & Allocation
Schedule A-C—Apportionment and Allocation-Continuation Sheet
Schedule K-1 (720S)—Shareholder’s Share of Income, Credits,
Deductions, Etc.
Form 720-ES—Corporation Income/Limited Liability Entity Tax
Estimated Payment Voucher
Form 720SL (41A720SL)—Application for 6 Month Extension
of Time to File Corporation or Limited Liability Pass-Through
Entity Return
Form 720-Amended—Amended Corporation Income Tax Return
Form 740-ES—Kentucky Estimated Tax Voucher
(for composite filing)
Form 740-NP—Nonresident/Part-Year Resident Return
(for composite filing)
Form 740NP-WH —Kentucky Nonresident Income Tax Withholding
on Net Distributive Share Income Transmittal Report
Form PTE-WH— Kentucky Nonresident Income Tax Withholding
on Net Distributive Share
Consolidated Reports
Form 2220-K—Underpayment of Estimated Tax by Corporations
Form 2210-K—Underpayment of Estimated Tax by Individuals
(for composite filing)
Form 8903-K—Kentucky Domestic Production Activities Deduction
Schedule CR (720)—Proforma Federal Consolidated
Return Schedule
Schedule CR-C (720)—Proforma Federal Consolidated Return
Schedule Continuation Sheet
Schedule KCR (720)—Kentucky Consolidated Return Schedule
Schedule KCR-C (720)—Kentucky Consolidated Return Schedule
Continuation Sheet
Schedule NOL—Net Operating Loss Schedule
Schedule LLET— Limited Liability Entity Tax
Schedule LLET-C—Limited Liability Entity Tax-
Continuation Sheet
Schedule TCS—Tax Credit Summary Schedule
Schedule O-720—Other Additions and Subtractions to/from
Federal Taxable Income
Schedule O-PTE—Other Additions and Subractions to/from
Federal Ordinary Income
Schedule HH—Kentucky Housing for Homeless Families Deduction
Kentucky City Forms and Schedules
Form 228—Lexington-Fayette Urban County Government
Net Profits License Fee Return
Form 228 ENP—Lexington-Fayette Urban County Government
Quarterly Estimate
Form 228-S—Board of Education of Fayette County Net Profits
Occupational License Tax Return
Form OL-3—Louisville Occupational License Return
Form OL-3(D)—Louisville Quarterly Net Profit Deposit Form
Form OL-3E—Louisville Extension Request
and/or Estimated Payments
KENTUCKY PARTNERSHIP
The UltraTax/1065 Kentucky program allows for the allocation
of Kentucky Schedule K amounts to specific partners.
Kentucky Forms and Schedules
Schedule O-PTE—Other Additions and Subtractions To / From
Federal Ordinary Income
Form 765—Kentucky Partnership Income and LLET Return
Form 740NP-WH—Kentucky Nonresident Income Tax Withholding
on Net Distributive Share Income Transmittal Report
Form PTE-WH—Nonresident Income Tax Withholding
on Net Distributive Share Income
Form 40A102—Application for Extension of Time for Filing
Individual, General Partnership & Fiduciary Income Tax Returns
Form 765-GP—Kentucky General Partnership Income Return
Form 765 Schedule K-1—Partner’s Share of Income, Credits,
Deductions, Etc.
Form 720-ES—Corporation Income/Limited Liability Entity Tax
Estimated Tax Voucher
720SL (41A72OSL)—Application for 6 Month Extension of
Time to File Corporation or Limited Liability Pass-through
Entity Tax Return
Schedule A—Apportionment and Allocation
Form 740-NP—Nonresident/Part-year Resident Return
(for composite filing)
Schedule A-C—Apportionment and Allocation Continuation Sheet
Schedule LLET—Limited Liability Entity Tax
Schedule LLET-C—Limited Liability Entity Tax Continuation Sheet
Schedule TCS—Tax Credit Summary Schedule
Form 740-ES—Kentucky Estimated Tax Voucher
(for composite filing)
Form 765-GP—Kentucky Schedule K-1 Partner’s Share of Income,
Credits, Deductions, Etc.
continued >
*Denotes non-calculating form
**Denotes 1120 Consolidated form
ULTRATAX CS — KENTUCKY, CONT.
TL21657_KY
TAX & ACCOUNTING | 7322 Newman Boulevard | Dexter, MI 48130
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*Denotes non-calculating form
**Denotes 1120 Consolidated form
Form 2210-K—Underpayment of Estimated Tax by Individuals
(for composite filing)
Kentucky City Forms and Schedules
Form 228—Lexington-Fayette Urban County Government Net
Profits License Fee Return
Form 228 ENP—Lexington-Fayette Urban County Government
Quarterly Estimate
Form 228-S—Board of Education of Fayette County Net Profits
Occupational License Tax Return
Form OL-3—Louisville Metro Revenue Commission Occupational
License Fees Return
Form OL-3(D)—Louisville Metro Revenue Commission Quarterly
Net Profit Deposit Form
Form OL-3E—Louisville Metro Revenue Commission
Extension Request
KENTUCKY PROPERTY TAX
UltraTax Kentucky Property Tax program supports 1040, 1041,
1065, 1120, and 1120S entities. It prepares tangible personal
property Tax Returns from depreciation data entered in the
Asset tab.
Kentucky Forms and Schedules
Form 62A500—Tangible Personal Property Tax Return
Form 62A500-S1—Dealer’s Inventory Listing for Line 34
Form 62A500-A—Tangible Personal Property Tax Return
(Aircraft Assessments)
Form 62A500-W—Tangible Personal Property Tax Return
(Documented Watercraft)
Form 62A500-C*—Consignee Tangible Personal Property
Tax Return
Form 62A500-L*—Lessee Tangible Personal Property Tax Return
KENTUCKY FIDUCIARY
Multi-state processing
UltraTax/1041 has extensive multi-state processing capabilities
with the ability to process several states from one set of
federal data.
Kentucky Forms and Schedules
Form 741—Kentucky Fiduciary Income Tax Return
Form 740-ES—Individual Estimated Tax Voucher
Form 4972-K—Kentucky Tax on Lump-sum Distributions
Form 8582-K—Kentucky Passive Activity Loss Limitations
Form 40A102—Application for Extension of Time to
File Individual, General Partnership and Fiduciary
Income Tax Returns for Kentucky
Schedule D—Capital Gains and Losses
Schedule K-1—Beneficiary’s Share of Income, Deductions,
Credits, Etc.
Schedule K-1 Instructions*—Instructions to Beneficiary
Schedule P—Pension Income Exclusion
Grantor / Agency Report—Grantor’s Share of Income,
eductions, Credits, Etc.
SUPPORT
You receive the same toll-free access to the Thomson Reuters
Support HelpLine for state and local UltraTax CS products as
you do for your federal UltraTax CS products.
MONEY-BACK GUARANTEE
All Thomson Reuters software is backed with a written
money-back guarantee. If you are not completely satisfied
with any fully licensed UltraTax CS product, return the software
within the specified period for a refund.
PER-RETURN PRICING (PRP)
For your convenience, all UltraTax CS software is available
on a per-return basis. UltraTax PRP offers a cost-effective way
to handle states and entities that require a limited number
of returns.
MORE INFORMATION
UltraTax CS products for Kentucky are just part of the family
of more than 150 UltraTax CS state and local programs.
For more information, please call a Thomson Reuters
Account Representative at 800.968.8900.
ULTRATAX CS — KENTUCKY, CONT.
