Home
Forms Library
Complete Form 4972 - Tax on lump-sum distributions

Get the up-to-date Complete Form 4972 - Tax on lump-sum distributions-2025 now

Complete Form 4972 - Tax on lump-sum distributions Preview on Page 1

Show details

4.2 out of 5

51 votes

The document is Form 4972-K, used for reporting the Kentucky tax on lump-sum distributions from qualified plans for participants born before January 2, 1936. It outlines qualifications for filing, details on excludable lump-sum income, and instructions for calculating the taxable amount and corresponding tax owed. The form must be submitted with other state tax forms.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to edit Complete Form 4972 - Tax on lump-sum distributions in PDF format online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Handling paperwork with our extensive and user-friendly PDF editor is straightforward. Make the steps below to complete Complete Form 4972 - Tax on lump-sum distributions online easily and quickly:

Sign in to your account. Sign up with your email and password or create a free account to try the service prior to upgrading the subscription.
Upload a document. Drag and drop the file from your device or add it from other services, like Google Drive, OneDrive, Dropbox, or an external link.
Edit Complete Form 4972 - Tax on lump-sum distributions. Quickly add and highlight text, insert images, checkmarks, and signs, drop new fillable areas, and rearrange or remove pages from your document.
Get the Complete Form 4972 - Tax on lump-sum distributions accomplished. Download your modified document, export it to the cloud, print it from the editor, or share it with other participants via a Shareable link or as an email attachment.

Make the most of DocHub, one of the most easy-to-use editors to rapidly handle your documentation online!

See more Complete Form 4972 - Tax on lump-sum distributions versions

We've got more versions of the Complete Form 4972 - Tax on lump-sum distributions form. Select the right Complete Form 4972 - Tax on lump-sum distributions version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2023	4.2 Satisfied (51 Votes)
2022	4.2 Satisfied (31 Votes)
2021	4.9 Satisfied (60 Votes)
2020	4.4 Satisfied (42 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

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

How to calculate taxes on a lump-sum payment?

Understanding Tax on Lump Sum Payments Federal Income Taxes: Determine your tax bracket based on your total income, including the lump sum. Apply this percentage to the lump sum to estimate the federal tax. State Income Taxes: Similar to federal taxes, apply your states income tax rate to the lump sum.

Is a lump-sum inheritance taxable?

There is no federal inheritance tax. Inherited assets may be taxed for residents of Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania. Whether you may pay inheritance tax depends on the amount of the inheritance, your relationship to the decedent, and the state in which the decedent lived.

How are lump-sum social security disability payments taxed?

Lump Sum Back Payment If you only receive SSI, your back pay is not taxable. If you receive SSDI, your back pay is taxable. This means a large lump sum back payment can cause concern for tax liability. Fortunately, the IRS allows you to assign back pay benefits to the year they should have been received.

How are lump-sum distributions taxed?

Mandatory income tax withholding of 20% applies to most taxable distributions paid directly to you in a lump sum from employer retirement plans even if you plan to roll over the taxable amount within 60 days. Note that the default rate of withholding may be too low for your tax situation.

How much tax will be taken for a lump sum payout?

Mandatory withholding Mandatory income tax withholding of 20% applies to most taxable distributions paid directly to you in a lump sum from employer retirement plans even if you plan to roll over the taxable amount within 60 days. Note that the default rate of withholding may be too low for your tax situation.

How does a lump sum settlement affect Social Security disability?

In general, Social Security Disability benefits are not taxed for most recipients. However, if you have other substantial income, such as wages, self-employment income, interest, or dividends, your benefits could be taxable.

Get the up-to-date Complete Form 4972 - Tax on lump-sum distributions-2025 now

Here's how it works

How to edit Complete Form 4972 - Tax on lump-sum distributions in PDF format online