c-gcc, 189 bytes

Result

TLE

Code [DL]

s[90];main(p,i,q,r){gets(s);r=(int)s;p=strchr(s,84)-r;for(;gets(s),i=p;){for(;i--;)putchar(32);puts("*");q=strchr(s,75);if(q){for(i=q-r;i--;)putchar(32);for(r+=p-q;~r;)putchar(42);break;}}}

stdin

                T                                 
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
            K                                     

stdout

stderr

strace