Overview

KY Form 725, Single Member LLC Individually Owned Income and LLET Return, can be produced and e-filed through Drake Tax.

Data Entry

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 1.

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).