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New Member
posted Mar 10, 2023 12:24:30 AM

What does “ Enter or confirm your tax liability from your 2021 Kentucky return, Form 740 or Form 740-NP, page 2, line 26:” this mean

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Expert Alumni
Mar 10, 2023 5:04:04 AM

“Enter or confirm your tax liability from your 2021 Kentucky return, Form 740 or Form 740-NP, page 2, line 26” means you owe an underpayment penalty to Kentucky and TurboTax needs the amount of tax you paid last year to figure the right amount.

 

Using the wrong amount could delay processing your return, creating additional interest charges.

 

You will owe a penalty if the total of your withholding and timely estimated tax payments didn’t equal at least the smaller of:

 

  1. 90% of your 2022 tax, or
  2. 100% of your 2021 tax. Your 2021 tax return must cover a 12–month period

If you met those thresholds, you would have no penalty. 

 

If you used TurboTax last year, a copy of your return is in your online account.

See: How do I view, download, or print a prior-year return? 

 

If you used a tax preparer or other tax software, contact them. 

 

Requesting a copy from Kentucky Department of Revenue

 

You can also get a copy of your return from the Kentucky Department of Revenue. Requests for copies of returns must be in writing. Please mail or fax the request to:

 

Taxpayer Assistance

P. O. Box 181, Station #56

Frankfort, KY 40602

(502)564-4581

Fax: (502)564-3392 

 

Follow the full instructions at Requesting Copies of Returns.