Get Ky Dor 4972-k 2020

The KY DoR 4972-K form is used for declaring the Kentucky tax on lump-sum distributions from qualified plans for individuals born before January 2, 1936. This guide will help you successfully fill out the form online with clear, step-by-step instructions tailored to your needs.

Follow the steps to fill out the KY DoR 4972-K online

1. Press the ‘Get Form’ button to access the KY DoR 4972-K and open it in your preferred editor.
2. Enter the name of the recipient of the distribution at the top of the form.
3. In Part I, check the box confirming whether you are filing federal Form 4972 by selecting 'Yes' or 'No.' If you select 'No,' do not continue with the form.
4. Complete Part II by entering the amount from Schedule P, line 3 in line 2, and then subtract this amount from $31,110 to get the result for line 3.
5. For line 4, enter the total from line 8(a) plus line 9. Then, determine line 5 as the lesser amount between lines 3 and 4.
6. Indicate the amount of line 5 to be applied to capital gain distributions in line 6, and for regular lump-sum distributions, subtract line 6 from line 5 to fill in line 7.
7. If you made a federal capital gain election, complete Part III by filling in line 8(a) with the capital gain part from Box 3 of Form 1099-R, entering the exclusion from line 6 on line 8(b), and calculating line 8(c) as the difference.
8. In Part IV, enter the ordinary income amount from Form 1099-R Box 2(a) minus Box 3 in line 9. For line 10, input any death benefit exclusion applicable.
9. Subtract line 10 from line 9 for line 11 and bring the exclusion from line 7 into line 12. Continue with the calculations outlined, leading to the taxable amounts in subsequent lines.
10. Once you reach line 32, this will be the tax amount due on lump-sum distributions. You will then be able to save changes, download, print, or share the completed form.

Fill out your KY DoR 4972-K form online today for a seamless experience.