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Utah State Tax Commission
TC-40LI
Summary of Utah Low-Income Housing Tax Credit
Get forms online - tax.utah.gov
Rev. 12/10
Utah law allows a nonrefundable tax credit against individual income tax, corporate franchise or income tax or fiduciary tax for owners of low-income
housing projects that have received an allocation of the federal low-income housing credit.
Do not send this form with your return. Keep this form and all related documents with your records.
Taxpayers must also keep form TC-40TCAC,
Utah Low-Income Housing Tax Credit Allocation Certification, completed by the Utah Housing Corporation, for each building listed in Column B of this
form. See procedures and instructions on the reverse side.
Name of taxpayer claiming credit
Taxpayer identification number
Address
Telephone number
ZIP Code
City
State
Tax year ending
Summary Worksheet of State Low-Income Housing Tax Credit Allowed
Column C
Column D
Column E
Column F
Column H
Column A
Column B
Column G
Column I
Low-income housing
Multiply line 4 of form
Name of building owner
Building identification
Percentage of federal
Multiply Column C by
Divide Column E
Percentage of state
Utah Low-Income Housing Tax Credit
credit per schedule K-1
by Column D
TC-40TCAC by Column F
number (BIN)
credit owned
line 2 form TC-40TCAC
credit owned
(Multiply Column G by Column H)
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$
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Total Credit Allowed
IMPORTANT - PLEASE READ
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Refer to the instructions for your INCOME TAX (TC-40),
(Sum column I)
CORPORATE TAX (TC-20 or TC-20S), or FIDUCIARY TAX (TC-41) return
to determine the line number on which you will record this credit.
The credit code is "08" for all returns.
Credit available to carry back or carry forward
$
Total number of forms TC-40TCAC