Form Tc-41 - Fiduciary Income Tax - 2012 Page 15
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312012 Utah Fiduciary Income Tax
Page 13
(02) Qualifi ed Sheltered Workshop Cash Contribu-
3. Any eligible capital gain must fi rst be offset by any
tion Credit (UC §59-10-1004)
capital loss recognized for the year for federal pur-
Cash contributions made in 2012 to a qualifi ed Utah
poses from the sale of gold and/or silver coin; and
nonprofi t rehabilitation sheltered workshop facility for
4. The transaction must be made in taxable years be-
persons with disabilities are eligible for the credit. Check
ginning on or after January 1, 2012.
with the workshop to make sure they have a current
For more information, see UC Title 59, Chapter 1, Part
Day Training Provider License or Day Support Provider
15, Specie Legal Tender Act.
Certifi cate issued by the Department of Human Services.
Calculation of Gold and Silver Coin Sale Credit
The credit is the lesser of $200 or 50% of the total cash
1. Capital gains on all sales and
contributions.
exchanges of gold and silver coins
$________
There is no form for this credit. Keep all related docu-
2. Capital losses on all sales and
ments with your records.
exchanges of gold and silver coins
$________
3. Subtract line 2 from line 1 (if a loss,
The name of the qualifi ed workshop must be written
STOP, there is no credit)
$________
on TC-41A, Part 4 to claim the credit.
4. Amount from form 1041, Schedule D,
Contributions claimed as a tax credit under this section
line 15 (if a loss, STOP, there is no credit)
$________
may not also be claimed as a charitable deduction in
5. Enter the lesser of line 3 or line 4
$________
determining net taxable income.
6. Credit percentage - 5%
.05
7. Credit - multiply line 5 by line 6
$________
Note: Any credit that is more than the tax liability may
Enter this amount on TC-41A, Part 3, using code 26.
not be carried back or forward.
Note: Any credit that is more than the tax liability may
For more information, contact:
not be carried back or carried forward.
Division of Services for People with Disabilities
195 N 1950 W
There is no form for this credit. Keep all related docu-
Salt Lake City, UT 84116
ments with your records.
801-538-4200
dspd.utah.gov
Part 4 - Nonapportionable Nonrefund-
able Credits
(05) Clean Fuel Vehicle Credit
Nonapportionable nonrefundable credits can reduce
(UC §59-10-1009)
your income tax to zero, but cannot result in a refund.
This credit is available if: (1) you buy a new vehicle that
meets air quality and fuel economy standards; (2) you
Claim the following nonapportionable nonrefundable
buy a qualifi ed vehicle fueled by compressed natural
credits that apply on TC-41A, Part 4 and attach it to
gas; (3) you buy equipment to convert a vehicle to run
your Utah return.
on propane, natural gas, electricity, or other approved
On TC-41A, write the code and amount of each non-
fuel; and/or (4) you buy equipment to convert a special
apportionable nonrefundable credit you are claiming.
mobile equipment engine to operate on propane, natural
Total these credits, then subtract nonapportionable
gas, electricity, or other approved fuel. The credit may
nonrefundable credits being distributed to benefi ciaries
only be claimed once per vehicle. See instructions on
on the Utah Schedule K-1.
form TC-40V for more information.
Enter the net amount of the credits being claimed on
Complete form TC-40V, Clean Fuel Vehicle Tax Credit,
the fi duciary return and carry this amount to line 27 of
with the Division of Air Quality approval stamp, verifying
your Utah TC-41. Each nonapportionable nonrefundable
the credit is approved. Do not send form TC-40V with
credit is explained below.
your return. Keep the form and all related documents
with your records.
Keep all related documents, including credit forms, with
your records. You may have to provide this information
Note: Any credit that is more than the tax liability may
later to verify a credit claimed on your return.
be carried forward for the next fi ve years.
Codes for Nonapportionable Nonrefundable Credits,
For more information, contact:
TC-41A Part 4
Division of Air Quality
02 Qualifi ed Sheltered Workshop Cash Contribution Credit
195 N 1950 W
05 Clean Fuel Vehicle Credit
PO Box 144820
06 Historic Preservation Credit
Salt Lake City, UT 84114-4820
07 Enterprise Zone Credit
801-536-4000
08 Low-Income Housing Credit
10 Recycling Market Development Zone Credit
cleanfuels.utah.gov/taxcredits/taxcreditsintro.htm
12 Credit for Increasing Research Activities in Utah
(06) Historic Preservation Credit
13 Carryover Credit for Machinery/Equipment Used to Conduct
(UC §59-10-1006)
Research
17 Credit for Income Tax Paid to Another State
The credit is for costs to restore any residential certifi ed
21 Renewable Residential Energy Systems Credit
historic building.
25 Combat Related Death Credit
27 Veteran Employment Tax Credit
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