Get Ks K-60 2024-2025

Filling out the KS K-60 form online can be straightforward when broken down into manageable steps. This guide will provide you with clear instructions on how to accurately complete each section of the form to apply for the community service contribution credit.

Follow the steps to successfully fill out the KS K-60 online.

1. Press the ‘Get Form’ button to access the KS K-60 form and open it in your preferred editor.
2. Begin by entering your name as it appears on your tax return in the designated field for taxpayer information. Make sure to include your Social Security Number or Employer Identification Number (EIN) below your name.
3. If you are a partner, shareholder, or member, indicate the name of the partnership, S corporation, LLC, or LLP in the appropriate field along with its Employer Identification Number (EIN).
4. Select the type of taxpayer by checking the appropriate box: Corporation, Individual, Partnership, Fiduciary, or Bank. It is important to also specify the authorized credit percentage by checking 50% or 70% as applicable.
5. Enter the certificate number provided by the community service organization to complete this section.
6. Proceed to Part A and calculate the total contributions you made to the approved community service organization this tax year. Enter this figure in Line 1.
7. Next, input your proportionate share percentage in Line 2. For most taxpayers, this will be 100%, except for partners or shareholders in pass-through entities, who will enter their specific percentage.
8. Multiply the total contributions from Line 1 by your proportionate share percentage in Line 2. Record the result in Line 3, which represents your share of contributions for this credit.
9. In Line 4, circle the authorized credit percentage based on the guidance provided. Then, calculate your share of the credit for contributions by multiplying the figure in Line 3 by the percentage from Line 4. Enter this amount in Line 5.
10. For Part B, if applicable, input the amount of any carry forward available from a prior return in Line 6. Then, add the amounts from Line 5 and Line 6 together and record the total in Line 7.
11. Complete Line 8 by entering your total tax liability for the year after all credits except this credit. Determine the lesser of Line 7 or Line 8 and enter this amount in Line 9.
12. If claiming a refundable portion of the credit, proceed to Part C. Subtract the amount in Line 9 from Line 7 and enter the result in Line 10.
13. Should you be claiming an assigned credit, complete Part D. Calculate the amount of excess credit available for carry forward to the next year's return in Line 11.
14. After reviewing your entries for accuracy, save your changes, download, print, or share the completed form as necessary.

Complete your KS K-60 form online today to ensure you make the most of your community service contributions.