Form 92A205 PDF Details

When navigating the complexities of estate administration, the Kentucky Inheritance Tax Return (Short Form) 92A205 emerges as a pivotal document for specific, smaller estates in the Commonwealth of Kentucky. This particular form is tailored for estates that do not necessitate a federal estate tax return and comprise ten or fewer items, among other criteria including the absence of certain types of gifts, transfers, and property arrangements. It streamlines the process for estates that are straightforward and without the complications that would necessitate the long form. The form demands precision in declaring the assets and interests of the decedent, calculation of the net estate after deductions such as funeral expenses and debts, and determination of the inheritance tax due. It meticulously outlines the responsibilities of the personal representatives and provides a framework for calculating taxes, considering relationships to the decedent, and applying relevant deductions and penalties. The use of this form underlines the importance of compliance with state laws and the potential personal liability of beneficiaries and representatives for inaccuracies or failure to meet tax obligations. It embodies a simplified procedure for fulfilling one's duties to the estate and the state, making it a critical tool for specific estates navigating the inheritance tax terrain in Kentucky.

QuestionAnswer
Form NameForm 92A205
Form Length4 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min
Other namesky form short, ky inheritance, kentucky inheritance tax return short form, ky inheritance tax

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92A205 (6-16)

Commonwealth of Kentucky

DEPARTMENT OF REVENUE

Kentucky Inheritance

Tax Return

(Short Form)

FOR DEPARTMENT USE ONLY

 

4

6

 

 

__ __ __ __ __ __ / __ __ / __ __ / __ __ __ __

Account Number

Tax

Mo

Year

This form is designed for small, uncomplicated estates. Requirements for use of this return—This return may be used when (1) a federal estate tax return is not required to be filed, (2) the assets of the estate consist of 10 items or less, (3) no gifts or transfers were made within three years of death without full consideration,

(4)no real or personal property was transferred with a retained life interest, (5) the decedent did not possess any power to appoint any real or personal property or have the use of any qualified terminable interest property, and (6) the decedent had not received any real or personal property from another decedent within five years and paid inheritance tax on the property. Pursuant to KRS 140.190, the beneficiaries as well as the personal representative(s) may be held personally liable for the tax.

Return Status (check one):

Original Return

Amended Return—Refund

Amended Return—Tax Due

Decedent’s Name Last

First

 

 

 

 

Middle Initial

Date of Death

 

 

 

 

 

 

 

 

 

 

 

Social Security Number

Occupation (If decedent was

 

Age at

 

Cause of Death

HR Code Number (if known)

 

 

retired at death, state occu-

 

Death

 

 

 

 

 

 

 

pation prior to retirement.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residence (Domicile) at Time of Death

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number and Street

City

 

 

State

ZIP Code

County

Name and Address of Executor/Administrator/Beneficiary

 

Name and Address of Preparer

 

 

 

 

 

 

 

 

 

 

 

Exec

 

 

 

 

Atty

 

 

 

 Admr

 

 

 

 

 CPA

 

 

 

 _______

 

 

 

 

 _______

 

 

 

 

 

 

 

 

 

 

 

 

Did the decedent have a will? No Yes If Yes, attach a copy of the will.

 

 

Did the decedent have a trust agreement? No Yes

If Yes, attach a copy of the trust agreement.

Net Estate (from page 2) ......................................................................................................................

Inheritance tax due from Section III on reverse side .........................................................................

Discount of 5% from tax if paid within 9 months from death...........................................................

Total Tax Due ........................................................................................................................................

Interest and Penalty

Interest for late payment (see general information) ...............................................................................

Late filing penalty (see general information)...........................................................................................

Late payment penalty (see general information) ....................................................................................

Total due (tax plus interest and penalties, if applicable) .........................................................................

Total previously paid ..................................................................................................................................

Balance due/Refund ..................................................................................................................................

$

$

–

$

$

$

$

$

$

$

Attach check payable to “Kentucky State Treasurer” to this return and mail to

Kentucky Department of Revenue, Frankfort, KY 40620

Under criminal penalties, I declare that this return, including accompanying

documents, has been examined by me, and

✍ is, to the best of my knowledge and belief, true, correct and complete.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(

)

Signature of Executor/Administrator/Beneficiary

 

 

Social Security Number

 

 

 

 

Date

 

 

Telephone Number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E-mail Address of Executor/Administrator/Beneficiary

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(

)

 

 

 

 

 

 

 

 

 

Signature of Preparer

Date

Telephone Number

E-mail Address

SECTION I—GROSS ESTATE

92A205 (6-16)

 

List all items which decedent owned or in which the decedent had an interest. Complete Form 92A204, Real Estate Valuation Information Form, for each parcel of real estate. For stocks and bonds, a balance sheet, at a date nearest the decedent’s death, together with a statement of net earnings and dividends paid for the five-year period immediately preceding the date of death, must be supplied in support of these valuations (ex. financial institution’s monthly statement.)

Description and Location

of Real or Personal Property

Ownership (Check or fill in applicable blocks)

Indi-

 

 

Joint

 

Survivorship

Date

Name of

vidual

REQUIRED

Placed in

 

Co-Owner

 

Joint Names

 

 

 

 

With

Without

REQUIRED

 

 

 

 

 

 

Fair Cash

Value of 100%

Interest at

Date of Death

Decedent’s

Interest

TOTAL GROSS ESTATE

$ _________________________

 

 

 

 

SECTION II—DEDUCTIONS

 

Funeral expenses

$ ______________________________

 

Monument

$ ______________________________

 

Cemetery lot and maintenance of lot

$ ______________________________

 

Subtotal (not to exceed $5,000)

$ _________________________

Personal representatives’ commissions

$ _________________________

Attorneys’ fees

$ _________________________

Appraisers’ fees and court costs

$ _________________________

Mortgages and liens (decedent’s share)

$ _________________________

Other debts of decedent (itemize only if total debts exceed $500):

 

__________________________________________________________________________________________

$ _________________________

__________________________________________________________________________________________

$ _________________________

__________________________________________________________________________________________

$ _________________________

__________________________________________________________________________________________

$ _________________________

TOTAL DEDUCTIONS

$ _________________________

NET ESTATE (Total Gross Estate Less Total Deductions) (enter on page 1)

$ _________________________

 

 

 

92A205 (6-16)

SECTION III—TAX COMPUTATION SCHEDULE

List Names of Heirs and Beneficiaries or Exempt

Social Security

Relationship

 

 

 

Organizations. Itemize shares of property received.

Age

Distributive Share

Tax

Number

(If Any)

(See General Information)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total distributive shares (must equal net estate)

$

Total Inheritance Tax Due (enter on page 1)

 

 

$

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