Mistakes happen, and the Kentucky Department of Revenue understands this. If you and your partner made a mistake on your Kentucky tax filing, you must file a Form 740-X with the department to amend your original filing. Receiving a W-2 form late, forgetting to report contractor income or forgetting to change your filing status if you are newly married are all reasons for filing an amended return. Typically, you can file an amended return up to three years after filing the original return.
Gather your tax documents, including your original Form 740, that you filed with the Department of Revenue.
Download Form 740-X from the Kentucky Department of Revenue website. Enter the year you are amending at the top of the form. Check the box indicating whether you file on a calendar-year basis or use a fiscal year. If you use a fiscal year, enter the beginning and ending dates.
Mark your original return's filing status and the filing status you are using on the amended return in the filing status section at the top of the form. Mark different statuses if you are amending your return to include your new spouse. Enter the required information for you and your spouse.
Use your original filing to complete Column I on your Form 740-X. Even if the information is the same as your original filing, complete lines "1" through "6" of the "Income and Deductions" section and the "Tax Liability" section. Enter the correct amount in Column III for the same sections.
Subtract Column I from Column III and enter the answer in Column II on lines "1" through "6" of the "Income and Deductions" section and the "Tax Liability" section. List the reasons for any changes in "Part III - Changes" on page two of the return. For example, if you received a Form W-2 after filing your taxes, write "My adjusted gross income on line 1 changed because I received a W-2 after I filed."
Subtract any business incentive credits -- on line "5" -- and personal tax credits -- line "6" -- from line "4" where you listed your tax liability from your original return.
Add the amounts you entered on line "7" for you and your spouse and enter the total on line "8" of your amended return. Enter any credits you are entitled to on lines "9" through "12" of the amended return. The new home credit is only available for original returns filed in 2009 or 2010.
Subtract the amounts in lines "9" through "12" from the amount you entered on line "8" of your Form 740-X. If you paid a Use Tax -- a tax Kentucky charges for out of state purchases made without paying sales tax, such as Internet purchases -- enter the amount on line "14" of the amended return. Add lines "13" and "14" and enter your answer in line "15" to show your total tax liability.
Enter your Kentucky withholding on line "16" and any estimated tax you paid on line "17" in the "Payments and Credits" section. If you are claiming refundable corporation tax or certified rehabilitation credits, enter the amounts on lines "18" and "19" on your amended return. List any film industry-tax credit you are claiming on line "20" of the form. Enter any monies you have paid toward your original tax liability on line "21," in Column III. Add the amounts in "Column III," lines "16" through "21" and enter the total on line "22," Column III.
Enter any payments or credits to calculate your new income tax amount. Complete "Part I - Tax Credits" if your credits changed and complete "Part II - Family Size Tax Credit" if your family size changed.
Enter any overpayment on your original return on line "23." Subtract any overpayment on line "23" from the amount on line "22" and write the answer on line "24." Compare the amount in lines "15" Column III with line "24." If line "15" is more, enter the amount you owe on line "25." If it is smaller, enter your refund on line "28."
Use the interest chart in Part IV to calculate the interest you owe on any unpaid tax. Enter the amount on line "26." Add the tax and interest you owe -- lines "25" and "26" -- and enter the amount on line "27." Sign the amended return and, if you are filing jointly with your spouse, ask her to sign as well. Include a check made out to the Kentucky State Treasurer if the amended return caused you to owe money to the state.
Mail your amended return to the address at the bottom of Form 740-X. Note that whether you are receiving a refund or sending a payment determines what address to use.
- If your filing status changed, you and your partner must file amended returns.
- It can take up to six months for the state to process an amended return.
- You must file amended returns on paper. Kentucky does not allow you to file an amended return electronically.
- It can take up to six months for Kentucky to process an amended return.
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