Any Kentucky Preparers?

[WhiteOleander]

I am preparing a 2007 return for someone who has moved from KY. They sold their residence there before they left. Does KY recognize the 250,000 capital gain exclusion on the sale of a residence?
Thanks

[taxcraft]

Kentucky must have a tax website where you can view their tax booklet.

[Edsel]

Oleander is outstanding at answering other peoples' questions. I'm going to bump this up to the top so that someone who does KY returns can view it again and answer her question.

Instruction booklets (especially those written by various state taxing authorities) do not address all questions, and when they do, they are not arranged in a logical order.

[WhiteOleander]

Thanks. I was thinking that someone from KY might be able to tell me. I have checked TTB states book. But, I haven't had time to go to the KY site. For some reason, we've really gotten slamed this week. And they are really complicated returns.

[taxcraft]

I looked at the website and found the laws section was not easy to use. However, in the forms and booklet section the exclusion of the $250000 gain is not mentioned as an adjustment in the Kentucky return. The Kentucky return starts with Federal AGI and makes adjustments.....so it looks like an acceptance of the Federal exclusion....but you must check this out yourself because I only quickly reviewed the booklet.

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This post is meant for discussion purposes only and is not meant to be accurate advice.