Kentucky Personal Property Tax

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

The UltraTax/Kentucky Personal Property Tax application supports 1040, 1041, 1065, 1120, 1120S, and 990 entities. It prepares the local property tax returns from depreciation data entered in the Asset Detail dialog.


Kentucky forms and schedules

* Non-calculating form

Depreciation treatments required for all KY PPT assets

The Book or KY treatment must be entered for Kentucky Personal Property Tax returns. By default, the Book treatment transfers to the return. However, if the Complete return using the KY treatment within the Asset module field is marked on Screen Gen in the General folder for UltraTax/Kentucky Personal Property Tax, the KY treatment will transfer to the return.

Note: If you previously entered depreciation data for only the Tax treatment, you can copy asset data from the Tax treatment to the Book treatment or to the KY treatment.

Associations required for all KY PPT assets

Additional associations required for KY PPT assets

Aircraft and watercraft require additional asset associations. For details on the required associations, click the appropriate property type.

Note: If a client does not have any aircraft or watercraft assets, you can turn off these associations. To do so, choose Setup > Associations, clear the checkbox next to an association, and click OK.

Enter the following asset associations for Kentucky PPT Aircraft assets.

Note: If the client is not completing Form 62A500-A (Aircraft Assessments), you can turn off the applicable associations. To turn off an association, choose Setup > Associations and clear the checkbox next to the association.

Enter the following asset associations for Kentucky PPT Watercraft assets.

Note: If the client is not completing Form 62A500-W (Documented Watercraft), you can turn off the applicable associations. To turn off an association, choose Setup > Associations and clear the checkbox next to the association.

See also

Entering de minimis assets

UltraTax CS personal property tax returns

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