Form Tc-40a - Income Tax Supplemental Schedule

Form Tc-40a - Income Tax Supplemental Schedule - Draft Page 4

TC-40C

Retirement Credit Schedule

40087

Rev. 12/08

Your social security number

Your last name

You

Spouse

Part 1 - Taxpayer Information

1. Date of birth (if born after 1952, you do not qualify for credit)

yyyy

You

Spouse

Part 2 - Age 65 or Older - Credit

2. Check box if you were age 65 or older and born before January 1, 1953

3. Enter total number of boxes checked on line 2

4. Multiply the number on line 3 by $450

You

Spouse

Part 3 - Under Age 65 - Retirement Income Credit

5. Check box if you were under age 65 and born before January 1, 1953

6. If you checked a box on line 5, enter $288 in the same column, otherwise enter "0"

7. Enter total qualified retirement income for column checked on line 5 (see inst.)

8. Multiply the amount on line 7 for each column by .06 (6%)

9. Enter the lesser of line 6 or line 8 for each column

10. Enter total of both columns of line 9

Part 4 - Calculation of Credit

11. Add line 4 and line 10

12. Enter total income from your TC-40, line 6

13. Enter nontaxable interest received (federal form 1040 or 1040A, line 8b) (see inst.)

14. Modified adjusted gross income (add line 12 and line 13)

15. Enter:

$16,000, if married filing separately

$25,000, if single

$32,000, if married filing jointly or qualifying widow(er)

$32,000, if head of household

16. Subtract line 15 from line 14 - if less than zero, enter "0"

If line 16 is zero, enter "0" on line 17, then go to line 18

17. Multiply line 16 by .025 (2.5%)

18. Retirement Credit -subtract line 17 from line 11 - if less than zero, enter "0"

Enter this amount on your TC-40A, Part 3, using code 18

Attach completed schedule to your 2008 Utah income tax return.

Form Tc-40a - Income Tax Supplemental Schedule - Draft Page 4