Instructions For Form Tc-20s - Utah S Corporation Tax Return - 2012 Page 12
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28Dividends are business income where the stock with
Line 5 – Total Direct Related Expenses
respect to which the dividends were received arose out
Enter the sum of direct related expenses by adding
of or was acquired in the regular course of the taxpayer’s
lines 4a through 4e.
trade or business operations or where the acquiring
Line 6 – Utah Nonbusiness Income Net of Direct
and holding of the stock is an integral, functional, or
operative component of the taxpayer’s trade or business
Related Expenses
operations, or otherwise materially contributes to the
Subtract line 5 from line 3.
production of business income of the trade or business
operations. See Rule R865-6F-8(2)(e)(iv).
Line 7 – Beginning-of-Year Assets
Enter in column A the total beginning-of-year value of
Gain or loss from the sale, exchange, or other disposi-
assets used to produce Utah nonbusiness income from
tion of real property or of tangible or intangible personal
line 2, column C. Enter in column B the beginning-of-
property constitutes business income if the property
year value of your total assets. Include all assets in
while owned by the taxpayer was used in, or was oth-
column B, including Utah assets.
erwise included in the property factor of the taxpayer’s
trade or business. See Rule R865-6F-8(2)(e)(ii).
Line 8 – End-of-Year Assets
Rental income from real and tangible property is
Enter in column A the total end-of-year value of assets
business income if the property with respect to which
used to produce Utah nonbusiness income from line
2, column D. Enter in column B the end-of-year value
the rental income was received is or was used in the
of your total assets. Include all assets in column B,
taxpayer’s trade or business and therefore is includable
in the property factor. See Rule R865-6F-8(2)(e)(i).
including Utah assets.
Complete Schedule H as follows:
Line 9 – Sum of Beginning and Ending
Asset Values
• Complete lines 1a through 14 if you are claiming
only Utah nonbusiness income.
Add lines 7 and 8 for each respective column.
• Complete lines 15a through 28 if you are claiming
Line 10 – Average Asset Value
only non-Utah nonbusiness income.
Divide line 9 by 2 for each column.
• Complete lines 1a through 28 if you are claiming
Line 11 – Utah Nonbusiness Asset Ratio
both Utah and non-Utah nonbusiness income.
Divide line 10 column A by line 10 column B. Round the
Use additional pages or supporting schedules in the
result to four decimal places. Do not enter a decimal
same format, if necessary, to provide complete informa-
greater than 1.0000 and do not enter a negative number.
tion, including a description of the business purpose
for making the investment, the transactions creating
Line 12 – Interest Expense
the non-business income, and the use of revenues
Enter the total amount of interest deducted on form
generated by the non-business investment.
1120S, line 13 and elsewhere on the federal return.
Line 13 – Indirect Related Expenses for Utah
Utah Nonbusiness Income
Nonbusiness Income
Multiply line 12 by the ratio on line 11.
Lines 1a-1e – Utah Nonbusiness Income
Complete the information in each column and enter
Line 14 – Total Utah Nonbusiness Income
the gross Utah nonbusiness income from each class
Net of Expenses
of income being specifi cally allocated. Use additional
Subtract line 13 from line 6. Enter amount here and on
pages or supporting schedules in the same format, if
Schedule A, line 7.
necessary, to provide complete information about ad-
ditional sources of Utah nonbusiness income.
Non-Utah Nonbusiness Income
Line 2 – Total of Columns C and D
Enter the total of the amounts on lines 1a through 1e
Lines 15a-15e – Non-Utah Nonbusiness Income
in column C and column D.
Complete the information in each column and enter the
gross non-Utah nonbusiness income from each class
Line 3 – Total Utah Nonbusiness Income
of income being specifi cally allocated. Use additional
Enter the total of the amounts on lines 1a through 1e
pages or supporting schedules in the same format,
in column E.
if necessary, to provide complete information about
additional sources of non-Utah nonbusiness income.
Lines 4a-4e – Direct Related Expenses
Describe and enter amounts of direct expenses on the
Line 16 – Total of Columns C and D
same letter line as the corresponding Utah nonbusiness
Enter the total of the amounts on lines 15a through
income is listed on lines 1a through 1e. Direct related
15e in column C and column D.
expenses include wages, interest, depreciation, etc.
(UC §59-7-101).
Line 17 – Total Non-Utah Nonbusiness Income
Enter the total of the amounts on lines 15a through
15e in column E.
Page 10
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