16549: KY - Form 725 (Drake19)

KY Form 725, Single Member LLC Individually Owned Income and LLET Return, can be produced and e-filed through Drake Tax. To generate KY Form 725, first complete the federal data entry screens, as applicable. Then, on each income source that corresponds to a KY LLC, enter an LLC#. This box is located on federal data entry screens as follows: 

• Schedule C - C screen > Carryovers/State Info tab > State Use Only section > LLC# box. 
• Schedule E - E screen > State Use Only section (on the right) > LLC# box.
• Schedule F - F screen > Carryovers/State Info tab > State Use Only section > LLC# box.
• Form 4835 - 4835 screen > Carryovers/State Info tab > State Use Only section > LLC# box.

Enter the same LLC# on the KY > SMLLC tab > 725 screen > LLC Number box to indicate that the federal schedule or form should be used on Form 725.

Notes: 

• The LLC# field functions similar to a Multi-form code where you will use the same number to tie multiple screens or forms together. For example, if a number 1 was placed in both boxes, the rental income would be reported on the KY-725 with a matching number.
• If there are multiple Schedules, all that are marked with a number 1 in the LLC box, will be reported on the same corresponding KY-725.
• Different income types can be grouped together on a single KY-725 by using the LLC box, if applicable.
• Press Page Down to generate additional 725 screens, if needed. 
• If multiple Forms 725 exist in the return they will be shown separately on the EF Status page as KY7251, KY7252, etc. 
• The KY-725 can be extended and e-filed independently of the other Kentucky main forms. The extension is generated from the STEX screen.
• Amending can be done independent of the KY main form and is done from the 725 screen (note that the amended 725 cannot be e-filed).