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Screen KYJ - Kentucky Farm Income Averaging (1040)
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Overview
Use this screen to complete Forms 740 and 740-NP, and Schedule J, Kentucky Farm Income Averaging. If information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-KY displays it on the form only, not in the input screen.
General Information
UltraTax CS uses information entered in this section to complete Schedule J, Kentucky Farm Income Averaging.
Total elected farm income
The elected farm income is transferred to this field from the federal Schedule J.
Total elected farm income (Force)
Use this field to enter an amount different than the federal elected farm income.
Elected farm income amount allocated to spouse
Use this field to allocate elected farm income to the spouse. The amount entered here reduces the taxpayers elected farm income amount.
Enter
2022
amounts: Kentucky Schedule J, line 11 / ... / Kentucky taxable incomeIf both prior-year amounts and taxable income fields are entered, the taxable income amounts are used.