Supported Forms

The following Kentucky forms are supported in Drake Tax 2023. Forms denoted with can be e-signed.

Form	Description	IND	CRP	SCRP	PTR	FID
	Warren County Schools Net Profit Tax Return	P	P	P	P
12A200	Individual Income Tax Installment Agreement Request	P
211-22	Lexington Application for Refund	P
2210-K	Underpayment of Estimated Tax by Individuals	P
228	Lexington-Fayette Urban County Government Net Profits License Fee Return	P
228 ENP	Lexington-Fayette Urban County Government Net Profits License Quarterly Estimate	P
2441-K	Kentucky Child and Dependent Care Credit	P
4972-K	Tax On Lump-Sum Distributions	P
62A500	Tangible Personal Property Tax Return	P	P	P	P	P
62A500-A	Tangible Personal Property Tax Return (Aircraft Assessments Only)	P	P	P	P	P
62A500-C	Consignee Tangible Personal Property Tax Return	P	P	P	P	P
62A500-L	Lessee Tangible Personal Property Tax Return	P	P	P	P	P
62A500-M1	Boat Dealer’s Used Inventory Listing for Line 31 Tangible Personal Property Tax Return	P	P	P	P	P
62A500-S1	Automobile Dealer’s Inventory Listing for Line 34 Tangible Personal Property Tax Return	P	P	P	P	P
62A500-W	Tangible Personal Property Tax Return (Documented Watercraft)	P	P	P	P	P
720	Corporation Income Tax and LLET Return		P		P	P
720-ES	Estimated Tax Voucher		P	P	P
720EXT	Corporation/LLET Extension	P	P	P	P
725	Single Member LLC Individually Owned Income and LLET Return	P
740	Individual Income Tax Return Residents Only	P
740-ES	Estimated Tax Voucher	P				P
740EXT	Application for Extension of Time to File	P			P	P
740-NP	Individual Income Tax Return Nonresident or Part-Year Resident	P
740NP-WH	Nonresident Income Tax Withholding on Distributive Share Income Report and Composite Income Tax Return			P	P
740-PTET	Pass-Through Entity Tax			P	P
740-PTET-ES	Pass-Through Entity Tax Estimated Voucher			P	P
740V	Electronic Payment Voucher	P
741	Fiduciary Income Tax Return					P
8582-K	Passive Activity Loss Limitations	P
8863-K	Education Tuition Tax Credit	P
8874(K)-A	Notice of Kentucky New Markets Development Program Tax Credit and Certification	P	P	P	P
8879(C)-K	Corporation or Pass-Through Entity Tax Return Declaration for Electronic Filing		P	P	P
8879-K	Individual Income Tax Declaration for Electronic Filing	P
8948-K	Preparer Explanation for Not Filing Electronically	P
KBR-V	Corp/LLET Payment Voucher		P	P	P
KY4562	Depreciation and Amortization	P	P	P	P	P
NPL	Generic City Net Profit License Fee Return	P	P	P	P	P
OL-3	Louisville Metro Revenue Commission Occupational License Tax Return	P	P	P	P
OL-3EXT	Louisville Metro Revenue Commission Extension Request	P	P	P	P
PTE	Pass-Through Entity Income and LLET Return			P	P
PTE-WH	Nonresident Income Tax Withholding on Distributive Share Income			P	P
PTET-CR	Pass-Through Entity Tax on Distributive Share Income	P		P	P
Sch. PTE-WH	Nonresident Income Tax Withholding on Distributive Share Income	P
Sch. A (740-NP)	Itemized Deductions Nonresidents or Part-Year Residents Only	P
Sch. A (720/ 720U/PTE/725)	Apportionment and Allocation		P	P	P
Sch. A (740)	Itemized Deductions Full-Year Residents Only	P
Sch. CHEM	Renewable Chemical Production Tax Credit Certificate and Schedule	P	P	P	P	P
Sch. COGS (720/PTE/725)	Limited Liability Entity Tax Cost of Goods Sold		P	P	P
Sch. DE (720/ 720U/PTE/725)	Disregarded Entity	P	P	P	P
Sch. DS	Distilled Spirits Tax Credit	P	P	P	P
Sch. INV	Inventory Tax Credit (Ad Valorem)	P	P	P	P	P
Sch. ITC (740/740-NP)	Individual Tax Credit Schedule	P
Sch. J (740)	Farm Income Averaging	P
Sch. K-1 (741)	Beneficiary’s Share of Income, Credits, Deductions, etc.					P
Sch. K-1 (PTE)	Owner’s Share of Income, Credits, Deductions, etc.			P	P
Sch. KNOL (740/ 740-NP/741)	Net Operating Loss Schedule	P				P
Sch. KW-2 (740/ 740-NP/740-NP-R)	Kentucky Income Tax Withheld	P	P	P	P
Sch. L-C (720/ 720U/PTE/725)	Limited Liability Entity Tax	P	P	P	P
Sch. M (740)	Federal Adjusted Gross Income Modifications	P
Sch. NOL (720)	Net Operating Loss Schedule		P			P
Sch. P (740/740-NP/741)	Pension Income Exclusion	P
Sch. RC	Application for Income Tax/LLET Credit for Recycling and/or Composting Equipment or Major Recycling Project	P	P	P	P	P
Sch. TCS (720/ 720U/PTE/725)	Tax Credit Summary Schedule	P	P	P	P
Sch. UTC	Unemployment Tax Credit	P	P	P	P	P

New Forms  

• Form 740-PTET, Pass-Through Entity Tax

• Form 740-PTET-ES, Pass-Through Entity Tax Estimated Voucher

• Form PTET-CR, Pass-Through Entity Tax on Distributive Share Income

Program Updates

• The following forms can now be e-filed in Drake Tax:

  • OL-3, Occupational License Tax Return (Louisville)

  • OL-3EXT, Louisville Metro Revenue Commission Extension Request

• Kentucky now allows PTET-series forms to be e-filed.

Tax Law Changes

• Family Size Tax Credit – Thresholds have been adjusted as follows for the appropriate family size:

  • One – $14,580

  • Two – $19,720

  • Three – $24,860

  • Four or more – $30,000

• Standard deduction – Increased to $2,980

• Kentucky Entertainment Incentive (KEI) Tax Credit – House Bill 303 made various changes to the KEI tax credit, allocating $25 million for approved continuous production film companies and clarifying that payroll expenditures of loan-out entities can be included in the credit calculation.

e-File Reminder

The KY Department of Revenue requests that taxpayers include a driver’s license or state-issued identification number on their tax return. Doing so may expedite the return processing but is not required.