CCH Axcess Tax

Partnership Type

The return type indicated on the Kentucky return is determined by federal Form 1065, Schedule B, Question 1. If the federal return is a general partnership, then the Kentucky return is determined to be a general partnership, and Form 765-GP is generated. If the federal return is a Limited partnership, Limited Liability Company or a Limited Liability Investment Company, then the Kentucky return is determined to be a partnership subject to the limited liability entity tax, and Kentucky Form 765 is generated.

If the federal return, Schedule B, Question 7, regarding a publicly traded partnership, is marked 'Yes', then the Kentucky return is determined to be a general partnership, regardless of how Question 1 is answered, and Form 765-GP is generated.

Entries on federal Common State Category, Generic State Schedule K-1 Information Worksheet override the default to the federal return type when the state code box is KY, or blank.

The type of Kentucky return generated can be forced on Kentucky Category, General Worksheet, Option Section, Code to force type of return field.