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Kentucky Free Printable  for 2020 Kentucky Other Additions and Subtractions to/from Federal Ordinary Income

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Other Additions and Subtractions to/from Federal Ordinary Income
Schedule O-PTE

SCHEDULE O-PTE 41A720S-O (11-16) Commonwealth of Kentucky DEPARTMENT OF REVENUE Taxable Year Ending *1600010301* ➤  Attach to Form 720S, 765 or 765-GP. Name of Pass-through Entity __ __ / __ __ Mo. Yr. OTHER ADDITIONS AND SUBTRACTIONS TO/FROM FEDERAL ORDINARY INCOME Federal Identification Number __ __ — __ __ __ __ __ __ __ Kentucky Corporation/LLET Account Number __ __ __ __ __ __ PART I—ADDITIONS TO FEDERAL ORDINARY INCOME (FORM 720S, 765 OR 765-GP, PART I, LINE 5) 1. Loss from Form 4797 found on federal Form 1120S, line 4 or federal Form 1065, line 6........... 1 2. Gain from Kentucky Form 4797, line 17.......................................................................................... 2 3. Federal allowable depletion from Form 1120S, line 15 or Form 1065, line 17............................. 3 4. Enter additions to federal taxable income from Kentucky Schedule(s) K-1................................ 4 5. Internal Revenue Code amendments (see instructions)............................................................... 5 6. Other additions (attach explanation)............................................................................................. 6 7. Total of lines 1 through 6 (enter on Form 720S, Part III, line 5; or Form 765 or 765-GP, Part I, line 5)...................................................................................................................................... 7 00 00 00 00 00 00 00 PART II—SUBTRACTIONS FROM FEDERAL ORDINARY INCOME (FORM 720S, 765 OR 765-GP, PART I, LINE 9) 1. Gain from Form 4797 found on federal Form 1120S, line 4 or federal Form 1065, line 6.......... 1 2. Loss from Kentucky Form 4797, line 17.......................................................................................... 2 3. Kentucky allowable depletion......................................................................................................... 3 4. Amounts received from Tobacco Master Settlement Agreement, Phase II Settlement.............. 4 5. Amounts received from funds of the Commodity Credit Corporation for the Tobacco Loss Assistance Program................................................................................................................. 5 6. Amounts received as a result of a tobacco quota buydown program........................................ 6 7. State Phase II payments received by a producer of tobacco or a tobacco quota owner........... 7 8. Enter subtractions from federal taxable income from Kentucky Schedule(s) K-1...................... 8 9. Internal Revenue Code amendments (see instructions)............................................................... 9 10. Other subtractions (attach explanation)........................................................................................ 10 11. Total of lines 1 through 10 (enter on Form 720S, Part III, line 9; or Form 765 or 765-GP, Part I, line 9)...................................................................................................................................... 11 00 00 00 00 00 00 00 00 00 00 00 Schedule O-PTE is used by an S corporation filing Kentucky Form 720S or a partnership filing Kentucky Form 765 or 765-GP to show other additions to and other subtractions from federal ordinary income. Part I—ADDITIONS TO FEDERAL ORDINARY INCOME Line 1—Enter the federal loss from federal Form 1120S, Line 4 or federal Form 1065, Line 6. If the loss from Form 4797, Line 17 is the same for both federal and Kentucky, do not make an entry on this line. Line 2—Enter the Kentucky gain from Kentucky Form 4797, Line 17. If the gain from Form 4797, Line 17 is the same for both federal and Kentucky, do not make an entry on this line. Line 3—Enter federal allowable depletion from federal Form 1120S, Line 15 or federal Form 1065, Line 17. Do not deduct depletion for oil and gas properties as each partner, member or shareholder figures depletion on oil and gas properties. If the depletion is the same for both federal and Kentucky, do not make an entry on this line. Line 4—Enter the difference of the Kentucky distributive share income amounts from Kentucky Schedule(s) K-1 in excess of federal distributive share amounts from federal Schedule(s) K-1. Line 5—Kentuck y’s Internal Revenue Code (IRC) reference date is December 31, 2013 for fiscal years beginning on or before April 26, 2016. On April 27, 2016, the IRC reference date was updated from December 31, 2013 to December 31, 2015, for purposes of computing corporation and individual income tax, except for depreciation differences contained in KRS 141.0101. For fiscal year-end taxpayers with tax years beginning on or after April 27, 2016, the applicable IRC reference date is December 31, 2015. The IRC update will apply to calendar year taxpayers beginning in 2017. Enter the addition to federal taxable income equal to the excess of Kentucky taxable income over federal taxable income resulting from amendments to the IRC (excluding amendments affecting depreciation and the IRC §179 deduction) subsequent to the applicable IRC date. Attach a schedule to the tax return showing the detail of the addition, including the related IRC section(s). Line 6—Enter any other additions to federal income not reported on Lines 1 through 5, and attach an explanation to the tax return. 41A720S-O (11-16) Commonwealth of Kentucky DEPARTMENT OF REVENUE Line 7—Enter the total of Lines 1 through 6 (enter on Form 720S, Part III, Line 5; or Form 765 or 765-GP, Part I, Line 5). Part II—SUBTRACTIONS FROM FEDERAL ORDINARY INCOME Line 1—Enter the federal gain from federal Form 1120S, Line 4 or federal Form 1065, Line 6. If the gain from Form 4797, Line 17 is the same for both federal and Kentucky, do not make an entry on this line. Line 2—Enter the Kentucky loss from Kentucky Form 4797, Line 17. If the loss from Form 4797, Line 17 is the same for both federal and Kentucky, do not make an entry on this line. Line 3—Enter Kentucky allowable depletion using Kentucky taxable income and deductions. If the depletion is the same for both federal and Kentucky, do not make an entry on this line. To determine the allowable depletion deduction for Kentucky purposes, the percentage limitations provided by the Internal Revenue Code must be applied using Kentucky taxable income and deductions. Line 4—Enter amounts received by a producer or a tobacco quota owner from the Tobacco Master Settlement Agreement. Page 2 Line 7—Enter amounts received by a producer or a tobacco quota owner from state Phase II. Line 8—Enter the difference of the federal distributive share income amounts from federal Schedule(s) K-1 in excess of Kentucky distributive share amounts from Kentucky Schedule(s) K-1. Line 9—Kentucky’s Internal Revenue Code (IRC) reference date is December 31, 2013 for fiscal years beginning on or before April 26, 2016. On April 27, 2016, the IRC reference date was updated from December 31, 2013 to December 31, 2015, for purposes of computing corporation and individual income tax, except for depreciation differences contained in KRS 141.0101. For fiscal year-end taxpayers with tax years beginning on or after April 27, 2016, the applicable IRC reference date is December 31, 2015. The IRC update will apply to calendar year taxpayers beginning in 2017. Enter the subtraction from federal taxable income equal to the excess of federal taxable income over Kentucky income resulting from amendments to the IRC (excluding amendments affecting depreciation and the IRC §179 deduction) subsequent to applicable IRC date. Attach a schedule to the tax return showing the detail of the subtraction, including the related IRC section(s). Line 5—Enter amounts received from the Commodity Credit Corporation for the Tobacco Loss Assistance Program. Line 10—Enter any other subtractions from federal income not reported on Lines 1 through 9, and attach an explanation to the tax return. Line 6—Enter amounts received by a producer or a tobacco quota owner from the tobacco quota buydown program. Line 11—Enter the total of Lines 1 through 10 (enter on Form 720S, Part III, Line 9; or Form 765 or 765-GP, Part I, Line 9).
Extracted from PDF file 2019-kentucky-schedule-o-pte.pdf, last modified October 2016

More about the Kentucky Schedule O-PTE Corporate Income Tax TY 2019

We last updated the Other Additions and Subtractions to/from Federal Ordinary Income in April 2020, so this is the latest version of Schedule O-PTE, fully updated for tax year 2019. You can download or print current or past-year PDFs of Schedule O-PTE directly from TaxFormFinder. 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 Schedule O-PTE.

Form Code Form Name
Schedule O-720 Other Additions and Subtractions to/from Federal Taxable Income

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Form Sources:

Kentucky usually releases forms for the current tax year between January and April. We last updated Kentucky Schedule O-PTE from the Department of Revenue in April 2020.

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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 Schedule O-PTE

We have a total of seven past-year versions of Schedule O-PTE 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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