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Kentucky Free Printable  for 2021 Kentucky Kentucky Fiduciary Income Tax Return

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Kentucky Fiduciary Income Tax Return
Form 741

FORM 741 Commonwealth of Kentucky Department of Revenue *1900030029* KENTUCKY FIDUCIARY INCOME TAX RETURN 2019 For calendar year or other taxable year beginning ____________ , 2019, and ending _____________ , 20___. Check applicable box: Name of Estate or Trust  Decedent's estate  Simple trust  Complex trust  ESBT (S portion only)  Grantor trust  Bankruptcy estate  Pooled income fund  Check applicable boxes:  Initial return  Amended return  Final return Federal Employer Identification Number Name and Title of Fiduciary Date Entity Created Address of Fiduciary (Number and Street or P.O. Box) Room or Suite Number City, State and ZIP Code Number of Schedules K-1 enclosed.   (Copies Must Be Enclosed)   Enclose a copy of the federal return including all schedules and statements.   1 Federal adjusted total income (federal Form 1041, line 17)............................................................................... 1   2 Additions (from page 2, Schedule M, line 4)............................................................. 2   3 Enter the portion of deductions allocable to line 2................................................... 3   4 Subtract line 3 from line 2.................................................................................................................................... 4   5 Add lines 1 and 4.................................................................................................................................................. 5   6 Subtractions (from page 2, Schedule M, line 8)........................................................ 6   7 Enter the portion of deductions allocable to line 6................................................... 7   8 Subtract line 7 from line 6.................................................................................................................................... 8   9 Subtract line 8 from line 5. This is your Kentucky adjusted total income (loss). Enter here and on page 2, Schedule B, line 1........................................................................................................................ 9 10 Income distribution deduction (from page 2, Schedule B, line 15) (enclose Schedule(s) K-1)............................................................................................ 10 11 Pension income exclusion (enclose Schedule P, if more than $31,110)................... 11 12 Federal estate tax deduction (enclose computation)................................................ 12 13 Add lines 10, 11 and 12......................................................................................................................................... 13 14 Total income of fiduciary (subtract line 13 from line 9)..................................................................................... 14 INTANGIBLE INCOME ATTRIBUTABLE TO NONRESIDENTS INCLUDED IN LINE 14 15 Trusts or estates with income attributable to nonresident beneficiaries. Enter the portion of intangible income included in line 14 that is attributable to nonresident beneficiaries. Enter zero if not applicable. See instructions..................................................................................................... 15 16 Taxable income of fiduciary (subtract line 15 from line 14) This is your taxable income .............................. 16 Official Use Only 42A741 (10-19) Page 1 of 3 FORM 741 (2019) *1900030030* Page 2 of 3 TAX COMPUTATION 17 (a) Tax: multiply line 16 by 5% (.05) and add tax from: (b) Form 4972-K  ; Sch. RC-R  ; Sch. DS-R    ; Angel Investor Recapture   Total 17c 18 Nonrefundable credit(s) (specify and enclose supporting documents).......................................................... 18 19 Enter Tax Credit ($2 for a trust; $10 for an estate). This credit is not refundable........................................... 19 20 Total Tax (subtract lines 18 and 19 from line 17(c); if line 18 plus line 19 is more than line 17(c), enter -0-) 20 21 (a) Estimated tax payments...................................................................................... 21a (b) Withholding (W-2 or 1099 — enclose forms)..................................................... 21b (c) Nonresident Withholding from Form PTE-WH, line 9 (enclose forms)............ 21c (d) Total of amounts on line 21(a) through 21(c).............................................................................................. 21d 22 If line 20 is larger than line 21(d), subtract line 21(d) from line 20, and enter the TAX DUE.......................... 22 23 (a) Estimated tax penalty   Check if Form 2210-K attached............................. 23a (b) Interest.................................................................................................................. 23b (c) Late payment penalty.......................................................................................... 23c (d) Late filing penalty................................................................................................. 23d 24 Add lines 23(a) through 23(d).............................................................................................................................. 24 25 Add lines 22 and 24. This is the AMOUNT YOU OWE....................................................................................... 25 26 If line 21(d) is larger than line 20, subtract line 20 from 21(d). This is the AMOUNT YOU OVERPAID.......... 26 27 Amount of line 26 to be CREDITED TO YOUR 2020 ESTIMATED TAX................................................................ 27 28 Subtract line 27 from line 26. This is the amount to be REFUNDED TO YOU................................................... 28 I declare under the penalties of perjury that this return (including any accompanying schedules and statements) has been examined by me and, to the best of my knowledge and belief, is a true, correct and complete return. Sign Here Paid Preparer Use Signature of Fiduciary or Agent Date PTIN or Identification Number of Fiduciary or Agent Telephone Number (daytime) Signature of Preparer Date Name of Preparer or Firm ID Number Email Telephone No. May the DOR discuss this return with this preparer? ¨ ¨ Yes   No Mail To: Kentucky Department of Revenue Frankfort, KY 40620-0016 Payment Check Payable: Kentucky State Treasurer E-Pay Options: www.revenue.ky.gov Include: Your FEIN and “KY Income Tax—2019” 42A741 (10-19) FORM 741 (2019) *1900030003* Page 3 of 3 SCHEDULE A—CHARITABLE DEDUCTION (Do not complete for a simple trust or pooled income fund.) Complete Schedule A only if you made additions to or subtractions from total income on page 1, lines 2 or 6 and claimed a charitable deduction on federal Form 1041.   1   2 Kentucky taxable income that was paid or set aside for charitable purposes and was not reported on federal Form 1041, Schedule A, including additional capital gains. Enter here and include on Schedule M, line 7................................................................................................................................................................ 1 Kentucky tax-exempt income that was paid or set aside for charitable purposes that was reported on federal Form 1041, Schedule A. Enter here and include on Schedule M, line 3.............................................. 2 SCHEDULE B—INCOME DISTRIBUTION DEDUCTION (See federal instructions.)   1   2   3   4   5   6  7   8   9 10 11 12 13 14 15 Adjusted total income (enter amount from page 1, line 9).............................................................................. 1 Adjusted tax-exempt interest.............................................................................................................................. 2 Net gain shown on Schedule D, Form 741, column 1, line 19 (if net loss, enter zero)................................... 3 Enter amount included from federal Schedule A, line 4................................................................................... 4 Enter net capital gains included on Kentucky Schedule A, line 1 or line 2...................................................... 5 Enter any Kentucky gains included on page 1, line 9 as a negative figure. If capital loss, enter as a positive figure. (Kentucky gain/loss includes federal figures plus Kentucky adjustments.).......................... 6 Distributable net income (combine lines 1 through 6)..................................................................................... 7 If complex trust, enter accounting income for tax years as determined under the governing instrument and applicable law............................................................................................................................ 8 Amount of income required to be distributed currently................................................................................... 9 Other amounts paid, credited or otherwise required to be distributed.......................................................... 10 Total distributions (add lines 9 and 10) (If greater than line 8, see federal instructions.).............................. 11 Enter the amount of tax-exempt income included on line 11........................................................................... 12 Tentative income distribution deduction (subtract line 12 from line 11)......................................................... 13 Tentative income distribution deduction (subtract line 2 from line 7)............................................................. 14 Income distribution deduction (enter the smaller of line 13 or line 14 here and on page 1, line 10)........... 15 SCHEDULE M (FORM 741) Part I—Additions to Federal Adjusted Total Income   1   2   3   4 Enter interest from bonds issued by other states and their political subdivisions........................................ 1 Enter additions from partnerships, fiduciaries and S corporations (enclose schedule)................................ 2 Other additions (enclose schedule).................................................................................................................... 3 Total additions. Enter here and on page 1, line 2.............................................................................................. 4 Part II—Subtractions from Federal Adjusted Total Income   5   6   7   8 Enter interest from U.S. government obligations (enclose schedule)............................................................. 5 Enter subtractions from partnerships, fiduciaries and S corporations (enclose schedule)........................... 6 Other subtractions (enclose schedule)............................................................................................................... 7 Total subtractions. Enter here and on page 1, line 6......................................................................................... 8 ADDITIONAL INFORMATION REQUIRED 1 4 Was a Kentucky fiduciary income tax return filed for 2018?  Yes   No. If "No," state reason. 5 2 3 If the fiduciary has income not taxed by Kentucky, have you deducted only that portion of expenses allocable to taxable income?   Yes   No. If "Yes," enclose computation. Did the estate or trust have any passive activity loss(es)?  Yes   No. (If "Yes," enter the loss(es) on Form 8582-K, Kentucky Passive Activity Loss Limitations, to determine the allowable loss.) 42A741 (10-19) 6 If a federal audit changed the taxable income as originally reported for any prior year, a copy of the Revenue Agent’s Report must be submitted to the Department of Revenue. Do not attach to this return. During the taxable year did you make an accumulation distribution as defined in Sec. 665(b), Internal Revenue Code?  Yes   No. If "Yes," enclose federal Schedule J (Form 1041). If this is an amended return, check the appropriate box on page 1. Explain changes below. Enclose a separate page if necessary.
Extracted from PDF file 2019-kentucky-form-741.pdf, last modified October 2019

More about the Kentucky Form 741 Corporate Income Tax Tax Return

We last updated the Kentucky Fiduciary Income Tax Return in March 2020, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Kentucky Department of Revenue. You can print other Kentucky tax forms here.

Related Kentucky Corporate Income Tax Forms:

TaxFormFinder has an additional 129 Kentucky income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Kentucky Form 741.

Form Code Form Name
Form 741(K-1) Kentucky Beneficiary's Share of Income, Deductions, Credits, Etc.
Form 741 Instructions Kentucky Fiduciary Income Tax Return Instructions
Schedule D (741) Kentucky Capital Gains and Losses

Download all KY tax forms View all 130 Kentucky Income Tax Forms


Form Sources:

Kentucky usually releases forms for the current tax year between January and April. We last updated Kentucky Form 741 from the Department of Revenue in March 2020.

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Form 741 is a Kentucky Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Kentucky Form 741

We have a total of seven past-year versions of Form 741 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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