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FORM4972KKENTUCKY TAX ON LUMPS DISTRIBUTIONS (From Qualified Plans of Participants Born Before January 2, 1936)Commonwealth of Kentucky Department of Revenue Enclose with Form 740, Form 740NP or Form
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To fill out form 4972-k, follow these steps:
02
Write your name and social security number at the top of the form.
03
Indicate your filing status by checking the appropriate box.
04
Provide details of your investments and transactions, including the type of investment, the date acquired, the cost or other basis, the date sold, and the amount realized.
05
Calculate the excess capital gains by completing the necessary calculations as outlined on the form.
06
Attach any supporting documents, such as brokerage statements, that may be required.
07
Sign and date the form before submitting it to the appropriate authority.
Who needs 4972-k?
01
Form 4972-k is needed by individuals who have experienced excess capital gains from certain investment transactions.
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What is 4972-k?
4972-k is a tax form used to report certain distributions from qualified retirement plans and individual retirement accounts (IRAs).
Who is required to file 4972-k?
Individuals who receive a lump-sum distribution from a retirement plan or IRA, and wish to report it under special tax rules, are required to file 4972-k.
How to fill out 4972-k?
To fill out 4972-k, gather relevant financial information regarding the distribution, complete each section accurately, and ensure all calculations are correct before submitting it to the IRS.
What is the purpose of 4972-k?
The purpose of 4972-k is to allow taxpayers to report lump-sum distributions and potentially take advantage of different tax treatment options available for such distributions.
What information must be reported on 4972-k?
The information that must be reported on 4972-k includes details of the distribution amount, date received, and any applicable tax calculations based on tax treatment options.
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