Kentucky Form 725 Interview

Forum|Forum|1 year ago
March 4, 2025
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Started a vacation rental business early in 2024. Created/moved the property into an LLC May 2024. Joined AirBnb/VRBO in Oct 2024. I have no rental income for 2024, but am claiming expense deductions. Completed Desktop TT Premier with no review errors. Kentucky Form 725 states I owe the min LLET of $175.

Going through the interview again. Screen "Tell us about this Return"..... Check applicable for solo LLC (single membership) offers 6 choices with no explanation of the choices (Initial, Final, Change Acc Period, Short Per Return, Qual passthrough, Amended). I chose Final Return (also tried Initial Return). Taxable Income Screen: all entries are $0. Need better description of choices. Why min tax due if no earnings?

PatriciaV

Employee

Kentucky imposes a tax on every business that is protected from liability by the laws of the state. This includes corporations, LLCs, S-Corporations, limited partnerships, and other types of businesses.

Although the tax is based on income, there is a $175 minimum LLET.

Also, if this is the first year you are filing a return for your LLC in Kentucky, check the box for "Initial return."

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