Form 765 Gp – Fill Out and Use This PDF

The 765-GP form, officially named the Partnership Income Return for the Commonwealth of Kentucky Department of Revenue, serves as the required documentation for partnerships to report their income for a specific tax year, covering the period from the start to the end of the reported taxable year. It encompasses various components including ordinary income calculation, adjustments, apportionment for providers, and specific schedules for detailing partners' shares, among others. For partnerships operating within Kentucky, this document is essential for ensuring compliance with state tax obligations. Click the button below to start filling out your 765-GP form accurately and ensure your partnership's tax obligations are met effectively.

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Form 765 Gp PDF Details

Filing taxes can often feel like navigating through a dense forest with no clear path. This is especially true for general partnerships in Kentucky, who are required to file the 765-GP form. This document is essential for reporting partnership income to the Kentucky Department of Revenue for the tax year 2019. With sections ranging from ordinary income computation to deductions and credits, the form also serves as a declaration of compliance under penalty of perjury. It requires a detailed accounting of federal ordinary income, state taxes based on income, federal and Kentucky depreciation, and related party expenses, among other financial elements. Additionally, the form must be accompanied by federal Form 1065 along with all supporting schedules and statements, bolstering its complexity. Partnerships must also pay close attention to specific instructions for initial, final, short-period, and amended returns. Equally important is the inclusion of a questionnaire and schedules detailing the partners' shares of income, credits, deductions, and other vital tax information. For entities navigating Kentucky's tax landscape, understanding every nuance of the 765-GP form is crucial to ensure accuracy and compliance.

Question	Answer
Form Name	Form 765 Gp
Form Length	4 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	1 min
Other names	kentucky revenue cabinet form 765gp pdf, gp ky, kentucky 765 gp, kentucky revenue cabinet form 765gp

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765-GP

Commonwealth of Kentucky

Department of Revenue

1900030034	PARTNERSHIP INCOME RETURN
	KENTUCKY GENERAL

2019

See instructions.

Taxable period beginning _______________ , 20 ____ , and ending _______________ , 20 ____ .

Federal Identiﬁcation	__ __ – __ __ __ __ __ __ __
Number

A Name of General Partnership			 Change of Name

Number and Street

City	State	ZIP Code	Telephone Number

Taxable Year Ending

M M Y Y

Date Business Commenced or Qualiﬁed

Principal Business Activity in KY

NAICS Code Number in KY

(See www.census.gov)

	B Number of Partners		C Check if applicable:			D Provider 3-Factor
	(Attach K-1s)		 Initial return	 Final return (Complete Part II)		Apportionment Code
			 Publicly traded partnership	 Short-period return (Complete Part II)
			 Qualiﬁed investment partnership	 Amended return (Complete Part III)

	PART I - ORDINARY INCOME (LOSS) COMPUTATION

1		Federal ordinary income (loss) (Form 1065, line 22)			1		00
ADDITIONS:
2		State taxes based on net/gross income			2		00
3		.......................................Federal depreciation (do not include IRC §179 expense deduction)			3		00
4		Related party expenses (attach Schedule RPC)			4		00
5		Other (attach Schedule O-PTE)			5		00
6		Total (add lines 1 through 5)			6		00
SUBTRACTIONS:
7		Federal work opportunity credit			7		00
8		....................................Kentucky depreciation (do not include IRC §179 expense deduction)			8		00
9		Other (attach Schedule O-PTE)			9		00
10		Total (add lines 7, 8, and 9)			10		00
11		Ordinary income (loss) (line 6 less line 10)			11		00

No Money Due $

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Sign	Signature of Ofﬁcer	Date
Sign
Here	Name of Ofﬁcer	Title
	Name of Ofﬁcer	Title

	Signature of Preparer	Date
Paid
Paid	Name of Preparer or Firm	ID Number
Preparer	Name of Preparer or Firm	ID Number
Preparer
Use
Use	Email and/or Telephone No.	May the DOR discuss this return with this preparer?
	Email and/or Telephone No.	May the DOR discuss this return with this preparer?
		¨ Yes ¨ No

Enclose

Include federal Form 1065 with all supporting schedules and statements.

Mail To

Kentucky Department of Revenue

Frankfort, KY 40620

42A765-GP (10-19)

Page 1 of 4

FORM 765-GP (2019)

*1900030336*

Page 2 of 4

PART II—EXPLANATION OF FINAL RETURN AND/OR SHORT–PERIOD RETURN

¨ Ceased operations in Kentucky		¨ Change in ﬁling status
¨	Change of ownership	¨	Merger
¨	Successor to previous business	¨	Other	_________________________________________________

PART III—EXPLANATION OF AMENDED RETURN CHANGES

SCHEDULE Q—KENTUCKY GENERAL PARTNERSHIP QUESTIONNAIRE

IMPORTANT: Questions 3—10 must be completed by all general partnerships. If this is the general partnership’s initial return or if the general partnership did not ﬁle a return under the same name and same federal I.D. number for the preceding year, questions 1 and 2 must be answered. Failure to do so may result

in a request for a delinquent return.

1Indicate whether: (a)  new business; (b)  successor to previously existing business which was organized as: (1)  corporation; (2)  partner ship; (3)  sole proprietorship; or (4)  other _____________________________

_________________________________________________________

If successor to previously existing business, give name, address, and federal I.D. number of the previous business organization. ____________________________________________

_________________________________________________________

2If a foreign general partnership, enter the date qualiﬁed to do business in Kentucky. __ __ / __ __ / __ __

3List the following Kentucky account numbers. Enter N/A for any number not applicable.

Nonresident Income Tax Withholding ______________________

Employer Withholding ____________________________________

Sales and Use Tax Permit _________________________________

Consumer Use Tax _______________________________________

Unemployment Insurance ________________________________

Coal Severance and/or Processing Tax _____________________

4The general partnership’s books are in care of: (name and address)

______________________________________________________

5Are disregarded entities included in this return?

 Yes  No. If yes, list name, address, and federal I.D. number of each entity. _________________________________

______________________________________________________

6(a)	For the taxable period being reported, was the general
	partnership a partner in a pass-through entity doing
	business in Kentucky? Yes  No
	If yes, list name and federal I.D. number of the pass-through
	entity(ies). ____________________________________________
	______________________________________________________
	______________________________________________________
	______________________________________________________
	______________________________________________________
6(b)	For the taxable period being reported, was the general
	partnership doing business in Kentucky other than through

its interest held in a pass-through entity doing business in Kentucky? Yes  No

7A r e r e l a t e d p a rt y c o s t s p e r K R S 14 1. 2 0 5 ( 1 ) ( l )

included in this return? Yes No. If yes, attach Schedule RPC, Related Party Costs Disclosure Statement, and enter any related party cost additions on Form 765-GP, Part I, Line 4.

8Was this return prepared on: (a) cash basis, (b) accrual basis, (c) other ______________________________________

9Did the general partnership ﬁle a Kentucky tangible personal

property tax return for January 1, 2020? Yes  No

If yes, list name and federal I.D. number of entity(ies) ﬁling return(s):______________________________________________

______________________________________________________

10 Is the general partnership currently under audit by the Internal Revenue Service? Yes  No

If yes, enter years under audit ___________________________

_________________________________________________________

If the Internal Revenue Ser vic e has made f inal and unappealable adjustments to the general partnership’s taxable income which have not been repor ted to the depar tment, check here  and file an amended Form 765-GP for each year adjusted. Attach a copy of the ﬁnal determination to each amended return.

42A765-GP (10-19)

FORM 765-GP (2019)

*1900030035*

Page 3 of 4

SCHEDULE K—PARTNERS’ SHARES OF INCOME, CREDITS, DEDUCTIONS, ETC.


SECTION A			Distributive Share Items				Total Amount

Income (Loss) and Deductions

1	Kentucky ordinary income (loss) from trade or business activities
	(page 1, line 11)					1			00
2	Net income (loss) from rental real estate activities (attach federal Form 8825)					2			00
3	(a)	Gross income from other rental activities		3(a)		00
	(b)	Less expenses from other rental activities
		(attach schedule)		(b)		00
									00
	(c)	Net income (loss) from other rental activities (line 3(a) less line 3(b))				3(c)			00
4	Portfolio income (loss):
	(a)	Interest income				4(a)			00
	(b)	Dividend income				(b)			00
	(c)	Royalty income				(c)			00
	(d)	Net short-term capital gain (loss) (attach federal Schedule D and Kentucky
		Schedule D, if applicable)				(d)			00
	(e)	Net long-term capital gain (loss) (attach federal Schedule D and Kentucky
		Schedule D, if applicable)				(e)			00
	(f)	Other portfolio income (loss) (attach schedule)				(f)			00
5	Guaranteed payments to partners					5			00
6	IRC §1231 net gain (loss) (other than due to casualty or theft)(attach federal
	Form 4797 and Kentucky Form 4797)					6			00
7	Other income (loss) (attach schedule)					7			00
8	Charitable contributions (attach schedule)					8			00
9	IRC §179 expense deduction (attach federal Form 4562 and Kentucky
	Form 4562)					9			00
10	Deductions related to portfolio income (loss) (attach schedule)					10			00
11	Other deductions (attach schedule)					11			00
Investment Interest

12	(a)	Interest expense on investment debts				12(a)			00
	(b)	(1) Investment income included on lines 4(a), 4(b), 4(c), and 4(f) above				(b)(1)			00
	(b)	(2) Investment expenses included on line 10 above				(b)(2)			00
Tax Credits—Nonrefundable (see instructions)

13	Enter the applicable tax credit
		 _______________________________________
	(a)	 _______________________________________			13(a)		00
	(b)	...................................................... _______________________________________				(b)		00
	(c)	...................................................... _______________________________________				(c)		00
	(d)	...................................................... _______________________________________				(d)		00
	(e)	...................................................... _______________________________________				(e)		00

42A765-GP (10-19)

FORM 765-GP (2019)

*1900030042*

Page 4 of 4

SCHEDULE K—PARTNERS’ SHARES OF INCOME, CREDITS, DEDUCTIONS, ETC.

SECTION A—continued		Distributive Share Items			Total Amount

Tax Credits—Refundable

14	Certiﬁed Rehabilitation Tax Credit (attach Kentucky Heritage Council certiﬁcation(s))..			14		00

15	............................Film Industry Tax Credit (attach Kentucky Film Ofﬁce certiﬁcation(s))			15		00

Other Items
16	(a) Type of IRC §59(e)(2) expenditures 			16(a)
	(b) Amount of IRC §59(e)(2) expenditures		.......................................................................	(b)		00

17	Tax-exempt interest income	..............................................................................................		17		00
18	Other tax-exempt income			18		00
19	Nondeductible expenses			19		00
20	Total property distributions (including cash)			20		00
21	Other items and amounts required to be reported separately to partners
	(attach schedule)			21

SECTION B—LLET Pass-through Items (Required)

Corporations and Pass-Through Entities must include the proportionate share of the receipts of the limited liability pass-through entity or general partnership in computing its own apportionment factor.

1Kentucky gross receipts.....................................................................................................

2 Total gross receipts ............................................................................................................

3 Kentucky gross proﬁts .......................................................................................................

4 Total gross proﬁts...............................................................................................................

5 Limited liability entity tax (LLET) nonrefundable credit..................................................

SECTION C—Apportionment Pass-through Items

1	Kentucky receipts from Schedule A, Part I, line 1	1
2	Total receipts from Schedule A, Part I, line 2	2
SECTION D—Apportionment for Providers (KRS 141.121(1)(e))
1	Kentucky property from Schedule A, Part I, line 5	1
2	Total property from Schedule A, Part I, line 6	2
3	Kentucky payroll from Schedule A, Part I, line 8	3
4	Total payroll from Schedule A, Part I, line 9	4

42A765-GP (10-19)

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Form 765 Gp – Fill Out and Use This PDF

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