Form Tc-41 - Fiduciary Income Tax - 2012 Page 12
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31Page 10
2012 Utah Fiduciary Income Tax
TC-41A – Fiduciary Supplemental Schedule Instructions
TC-41A is used to enter fi ve categories of items affecting
enter that amount to the extent the amount was deducted
the fi duciary return:
or used in calculating the UESP credit on your current
or a previously fi led Utah tax return. If you are a UESP
• Part 1 - Additions to Income (added to federal in-
account owner, you will receive form TC-675H, Utah Edu-
come);
cational Savings Plan Tax Statement for Contributions,
• Part 2 - Subtractions from Income (subtracted from
Withdrawals, and Transfers, from UESP. Keep this form
federal income);
with your records. If you have any questions about UESP
• Part 3- Apportionable Nonrefundable Credits (ap-
accounts, call UESP at 801-321-7188 or 800-418-2551
portioned for non or part-year residents);
or visit .
• Part 4 - Nonapportionable Nonrefundable Credits;
and
(57) Municipal Bond Interest
• Part 5- Refundable Credits.
(UC §59-10-202(1)(b))
Enter interest from certain bonds, notes and other evi-
Part 1 - Additions to Income
dences of indebtedness issued by non-federal govern-
Enter the following additions to income that apply on TC-
ment entities outside Utah (commonly known as municipal
41A, Part 1 and attach it to your Utah return.
bonds) if acquired on or after January 1, 2003. Do not
enter interest earned on non-Utah municipal bonds if the
On TC-41A, write the code and amount of each addi-
issuing state (or political subdivision) does not impose an
tion to income. Enter the sum of all additions to income
income tax on bonds issued by Utah or the issuing state
on line 5 of your Utah TC-41. Each addition to income is
does not impose an income tax. See details at incometax.
explained below.
utah.gov/additions/municipal-bond-interest.
NOTE: Only include amounts that will not be passed
(58) ESBT S Corporation Income
through to the benefi ciaries. You must apportion the ad-
(UC §59-10-202(1)(c))
ditions to income between the income taxed at the trust
Electing Small Business Trusts (ESBTs) must report the
level and the amounts distributed to the benefi ciaries.
separate S portion of the taxable income, as calculated
Calculate the apportioned amount that must be added
on the attachment to federal form 1041.
on this line as follows:
1. Divide the amount distributed to benefi ciaries by
(62) Fiduciary Adjustments
distributable net income,
(UC §59-10-210)
2. Multiply the amount in step 1 by the total amount
Enter any qualifi ed fi duciary adjustment and attach an
of the addition that must be apportioned, and
explanation of the adjustment.
3. Subtract the amount in step 2 from the total amount
(69) Equitable Adjustments
of the addition that must be apportioned.
(UC §59-10-209.1)
Codes for Additions to Income, TC-41 Part 1
Enter any qualifi ed equitable adjustment needed to pre-
51 Lump Sum Distribution
vent receiving a double tax benefi t. Attach an explanation
54 Utah Educational Savings Plan (UESP) 529 Plan Addback
of any equitable adjustment reported.
57 Municipal Bond Interest
58 ESBT S Corporation Income
Part 2 - Subtractions from Income
62 Fiduciary Adjustments
Enter the following subtractions from income that apply
69 Equitable Adjustments
on TC-41A, Part 2 and attach it to your Utah fi duciary
(51) Lump Sum Distribution
return.
(UC §59-10-202(1)(a))
On TC-41A, write the code and amount of each
This addition to income only applies if you fi led form
subtraction from income. Enter the sum of all subtrac-
4972 with your federal return. If you received a lump sum
tions from income on line 12 of your Utah TC-41. Each
distribution and fi led federal form 4972, enter the total of
subtraction from income is explained below.
the amounts shown on Part II, line 6 and on Part III, line 10.
Keep a copy of form 4972 and any 1099-R forms showing
NOTE: Only include amounts that apply to income taxed
the distribution with your records.
at the trust level. You must apportion the subtractions from
income between the amount taxed at the trust level and
Shared Distributions: If you shared a lump sum distribu-
the amounts distributed to the benefi ciaries. Calculate
tion with others, enter the amount calculated by multiplying
the apportioned amount that may be deducted on this
the amount on line 10 of form 4972 by the distribution
line as follows:
percentage shown in box 9a on your form 1099-R, then
1. Divide the amount distributed to benefi ciaries by
adding the amount shown on form 4972, Part II, line 6.
distributable net income,
(54) Utah Educational Savings Plan (UESP) 529
2. Multiply the amount in step 1 by the total amount
Plan Addback (UC §59-10-202(1)(d))
of the subtraction that must be apportioned, and
If you withdrew an amount from a Utah Educational
3. Subtract the amount in step 2 from the total amount
Savings Plan (UESP) 529 account but did not use it for
of the subtraction that must be apportioned.
qualifi ed higher education expenses and the withdrawal
did not meet an exception under IRC §529(c) or §530(d),
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