PTET-CR: Kentucky Pass-Through Entity Tax on Distributive Share Income (2024)
Kentucky · Kentucky DOR · Used for tax years 2024
Kentucky Form PTET-CR reports a partner’s, member’s, or shareholder’s Kentucky distributive share income subject to entity-level income tax. It shows the tax before credits, the owner’s credits, and the Kentucky income tax paid by the entity, and is attached to Form 740-PTET.
What you'll need
The form says to attach PTET-CR to Form 740-PTET. To complete PTET-CR, have these details ready:
- The taxable year ending month and year.
- The pass-through entity’s name, address, FEIN, and LLET account number, if available.
- The partner’s, member’s, or shareholder’s name, address, and Social Security number or FEIN.
- Their Kentucky distributive share income subject to entity-level income tax and their credits.
How to file
Submit the entire PTET-CR page and attach it to Form 740-PTET.
The provided form does not give a mailing address or e-filing directions.
Common mistakes
- Do not submit only part of the page. The form says “Submit Entire Page.”
- Do not leave PTET-CR unattached. The form says to attach it to Form 740-PTET.
Questions people ask
What income goes on line 6?
Enter the partner’s, member’s, or shareholder’s Kentucky distributive share income subject to entity-level income tax.
How is the tax before credits calculated for 2024?
Multiply line 6 by 4.0% (.04) and enter the result on line 7.
Where do credits go?
Enter the partner’s, member’s, or shareholder’s credits on line 8. The form refers to instructions for credits, but no instructions were provided here.
How is Kentucky income tax paid by the entity calculated?
Subtract line 8 from line 7 and enter the result on line 9.
Is the entity’s LLET account number requested?
Yes. Line 2 asks for the pass-through entity’s LLET account number, if available.