740 Schedule A: Kentucky Itemized Deductions for Full-Year Residents (2024)
Kentucky · Kentucky DOR · Used for tax years 2024
Kentucky Form 740 Schedule A is used by full-year residents to report itemized deductions for 2024, including deductible interest, charitable contributions, and other miscellaneous deductions. It also includes a section for dividing deductions between spouses married filing separ
Who files this form
Kentucky Schedule A is for full-year residents who itemize deductions. Enclose it with Form 740.
You may itemize for Kentucky even if you do not itemize on your federal return. For 2024, the instructions say itemizing generally benefits you if your deductions exceed $3,160. If you do not itemize, you may elect the $3,160 standard deduction.
If one spouse itemizes, the other must also itemize. Married couples who file a joint federal return but separate Kentucky returns or a combined Kentucky return may file separate Schedules A showing each spouse’s deductions, or use one Schedule A and divide deductions based on each spouse’s share of total income.
What you'll need
Have your Form 740 information available, including the name(s) shown on page 1 and your Social Security number. Depending on your deductions, you may also need:
- Mortgage records: Federal Form 1098 for reported interest and points. For mortgage interest paid to an individual, provide that person’s name, identifying number and address.
- Investment interest: Complete and enclose federal Form 4952 unless you meet the exception in the instructions.
- Charitable contribution records: Keep receipts, cancelled checks or other reliable written records showing the organization’s name and the date and amount given. Each contribution of $250 or more also requires written substantiation from the organization. Keep this substantiation in your files, rather than sending it with your return.
- Property donations: Keep records describing the property and how you determined its value. Enclose federal Form 8283 if your total deduction for property gifts exceeds $500. Appraisals may also be required if the total deduction exceeds $5,000.
- Artistic charitable contributions: Enclose a copy of the required appraisal from a qualified independent appraiser.
- Qualifying leasehold contributions for temporary housing for the homeless: Enclose Schedule HH.
How to file
Complete Schedule A and enclose it with Form 740, along with any required attachments.
- Enter your name(s) as shown on Form 740, page 1, and your Social Security number.
- Report interest expenses on lines 1 through 5, leaving reserved line 4 unused. Total the interest on line 6.
- Report contributions on lines 7 through 10 and total them on line 11.
- Report gambling losses on line 12 and eligible other miscellaneous deductions on line 13. Add them on line 14.
- Add lines 6, 11 and 14 to calculate total itemized deductions on line 15.
- If spouses file separate returns or a combined return using one Schedule A, complete lines 16 through 20 to divide deductions. Lines 19 and 20 direct you to enter the amounts on Form 740, line 10, Columns A and B, respectively.
The supplied text does not provide a mailing address or e-file directions.
Common mistakes
- Deducting an expense twice: Do not include items already deducted elsewhere, such as on Schedule C, E, F or Kentucky Schedule M.
- Claiming personal loan interest: Interest on credit cards, automobile or other consumer loans, and delinquent taxes is not deductible on this schedule.
- Ignoring benefits received from a charity: Deduct only the contribution amount that exceeds the value of any benefit you received.
- Claiming excluded charitable expenses: Political contributions, raffle or lottery tickets, tuition, and the value of your time or services are not deductible as contributions.
- Sending charitable substantiation with the return: Keep the required substantiation in your files. Do not send it with your return.
- Listing unapproved expenses on line 13: Only the miscellaneous expenses specifically listed in the instructions may be deducted there.
Questions people ask
Can I itemize for Kentucky if I take the federal standard deduction?
Yes. You may itemize for Kentucky even if you do not itemize for federal purposes.
Can one spouse itemize while the other takes the standard deduction?
No. If one spouse itemizes deductions, the other must also itemize.
How much can I deduct for gambling losses?
You may deduct losses only up to the amount of winnings reported on federal Form 1040 or 1040-SR, Schedule 1, line 8(b).
Do I always need federal Form 4952 for investment interest?
No. You do not have to file it if all three conditions apply: your investment interest does not exceed your investment income from interest and ordinary dividends; you have no other deductible investment expenses; and you have no disallowed investment interest expense from 2023.
Can I deduct expenses for charitable volunteer work?
You may deduct qualifying out-of-pocket expenses. For driving to and from volunteer work, you may use 14 cents per mile or the actual cost of gas and oil, plus parking and tolls under either method. Do not deduct amounts reimbursed to you.