740: Kentucky Individual Full Year Resident Return (2024)
Kentucky · Kentucky DOR · Used for tax years 2024
Form 740 is Kentucky’s 2024 individual income tax return for residents. It reports income, deductions, credits, tax payments, and any Kentucky use tax due, and calculates the amount you owe or your refund.
Who files this form
Form 740 is Kentucky’s 2024 individual income tax return for residents only.
The form offers these filing statuses:
- Single.
- Married, filing separately on one combined return, if both spouses had income.
- Married, filing a joint return.
- Married, filing separate returns.
The form does not state the income thresholds that determine whether you must file.
What you'll need
Have your Social Security number, your spouse’s information if applicable, and your mailing address ready. The signature area also asks for a driver’s license or state-issued ID number.
Depending on your situation, you may need:
- Federal Form 1040 or 1040-SR: Line 5 uses the amount from federal line 11. Include a complete copy of federal Form 1040 if you received farm, business, or rental income or loss.
- Schedule M: For Kentucky additions and subtractions.
- Kentucky Schedule A: If you itemize deductions.
- Schedule ITC: For the credits listed on the return, including the Family Size Tax Credit.
- Schedule KW-2: Enclose this schedule to report Kentucky income tax withheld.
- Form 8863-K and federal Form 2441: If claiming the education tuition or child and dependent care credits.
- Form PTET-CR: If claiming the refundable pass-through entity tax credit.
- 2024 estimated tax and extension payment amounts: For line 31b.
- Your original return and payment information: If amending. Enclose a copy of federal Form 1040X, if applicable.
How to file
Complete all applicable parts of the three-page return, include the required schedules and federal return copy, and sign the return.
Mail a return with a refund or no payment to:
Kentucky Department of Revenue
Frankfort, KY 40618-0006
Mail a return with payment to:
Kentucky Department of Revenue
Frankfort, KY 40619-0008
Make your check payable to Kentucky State Treasurer. Include your Social Security number and identify the payment as KY Income Tax for 2024.
The form lists www.revenue.ky.gov for electronic payment options.
Common mistakes
- Leaving out a required federal return copy: Include a complete federal Form 1040 if you received farm, business, or rental income or loss. If a copy is not required, check the box provided.
- Completing family-size credit lines without checking the instructions: The form specifically says to read the instructions before completing lines 20 and 21.
- Trying to carry an amended-return overpayment forward: Credit forwards to 2025 estimated tax are not available for amended returns.
- Leaving out amendment paperwork: Check the amended-return box and enclose federal Form 1040X, if applicable.
- Omitting spouse information when filing separate returns: The form asks for your spouse’s Social Security number and full name.
Questions people ask
What deduction do I enter if I do not itemize?
For 2024, line 10 directs nonitemizers to enter $3,160 in Columns A and/or B. Itemizers enter deductions from Kentucky Schedule A.
Could I qualify for the Family Size Tax Credit?
The form says you may qualify if the total of Columns A and B on line 5 is $41,496 or less. It directs you to the instructions. Line 21 uses the Family Size Tax Credit decimal amount from Schedule ITC.
Does a political party fund designation change my refund or tax due?
No. The form says designating $2 will not change your refund or tax due.
What does signing a combined return mean?
The declaration says refunds will be payable jointly to both spouses, and both spouses will be jointly and severally liable for all taxes under the return.