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Generating Kentucky Form 62A500 Tangible Personal Property Tax Return in Lacerte

SOLVED•by Intuit•3•Updated June 02, 2023
  1. Go to the Kentucky Tangible Personal Property screen and enter the Property location:
    • Individual Module: Screen 54.296
    • Partnership Module: Screen 43.295
    • Corporation Module: Screen 50.292
  2. Create a Depreciation asset for the tangible personal property, if not already present, in the Depreciation screen. Mandatory entries are required in:
    • Description of Property
    • Form (Ctrl+T)
    • Activity Name or Number
    • Date Placed in Service
    • Cost or Basis
    • Method (Ctrl+T)
  3. Scroll to the section Kentucky Tangible Personal Property Tax (62A500) on that Depreciation asset.
  4. Click the dropdown arrow in the field Property location name or number. The property location entered in Step 1 will show in the list. Select that property from the list to link this depreciation asset to the Kentucky Tangible Personal Property Tax location.
  5. Select the Type of Property (Ctrl+T).
  6. Select the Class of Property (Ctrl+T).
  7. Inputs for Schedules A, B and C are available in the Kentucky Tangible Personal Property screen listed in Step 1.

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