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10 42A741 FINAL.indd - revenue ky 2025

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The document is the Kentucky Fiduciary Income Tax Return Form 741 for the tax year 2010, used by estates and trusts to report income, deductions, and tax liabilities. It includes sections for identifying the entity, calculating adjusted total income, and determining taxable income. The form requires attachments of federal returns and schedules, as well as declarations under penalties of perjury.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the family size on tax return?

Your tax household includes all the individuals on your tax return: the tax filer, the tax filers spouse (if married filing jointly), and any dependents. Note: If someone claims you as a tax dependent, you count as part of their household, not your own.

Do I have to make $2500 to get a child tax credit?

Child tax credit Child tax credit No, you would have to have at least $2500 in earned income to receive a child tax credit. It may be available for earned income over that amount even if you had no federal income tax liability.

Who qualifies for family size tax credit in Kentucky?

The family size tax credit is based on modified gross income and the size of the family. If total modified gross income is $41,496 or less for 2024, you may qualify for the Kentucky family size tax credit.

What is the family size tax credit for Kentucky?

Family Size Tax Credit - For tax year 2024, the threshold amounts are as follows: Family size of one - $15,060. Family size of two - $20,440. Family size of three - $25,820.

Who gets minimum family tax credit?

Minimum hours of work You can only get the minimum family tax credit for the weeks you work a minimum number of hours for a salary or wage. A single parent must work at least 20 hours a week. In a 2-parent family, 1 or both parents between them must work at least 30 hours a week.

What is the non resident tax return for Kentucky?

The purpose of Form 740-NP is to enable nonresidents and part-year residents of Kentucky to report their income accurately. This form ensures compliance with Kentucky tax law for those who earn income from Kentucky sources.

10 42A741 FINAL.indd - revenue ky 2025

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