Form Tc-41 - Fiduciary Income Tax - 2012 Page 22
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2012 Utah Fiduciary Income Tax
15. Initial Credit before Phase-out
plus all income (loss) earned or received from all sources
while a Utah resident (even if not from a Utah source).
Multiply the amount on line 14 by 6% (.06). This is your
initial taxpayer tax credit before phase-out.
Enter on line 36 only the additions to income attributable
to Utah and shown on TC-40A, Part 1. In the case of
16. Base Phase-out Amount
an addition to income attributable to a Medical Savings
The base phase-out amount for a bankrupt estate is
Account addback, a Utah Educational Savings Plan ad-
$13,029.
dback, or Reimbursed Adoption Expenses, only include
the addition in the Utah column to the extent it was
17. Phase-out Income
previously subtracted from Utah taxable income. Include
Subtract the base phase-out amount on line 16 from the
in the Utah column an equitable adjustment shown on
Utah taxable income on line 8.
TC-40A, Part 1, only to the extent the equitable adjust-
ment relates to additions to income from Utah sources.
18. Phase-out Amount
Multiply the amount on line 17 by 1.3% (.013). This is
Enter on line 37 the total of lines 21 through 36.
the credit phase-out amount.
Enter on lines 38 through 50 adjustments applicable to
19. Taxpayer Tax Credit
Utah income.
Subtract the phase-out amount on line 18 from the
Enter on line 51 a subtraction for a state tax refund in-
initial credit on line 15. If the result is less than zero,
cluded on line 10 of federal form 1040, only to the extent
enter “0.”
the refund subtracted is related to Utah tax.
20. Utah Income Tax
Enter on line 52 only the subtractions from income attrib-
utable to Utah and shown on TC-40A, Part 2. Include in
Subtract the taxpayer tax credit on line 19 from the
the Utah column an equitable adjustment shown on TC-
tax calculated on line 9. If the result is less than zero,
40A, Part 2, only to the extent the equitable adjustment
enter “0.”
relates to subtractions from income from Utah sources.
FULL-YEAR UTAH RESIDENT BANKRUPTCY
Enter on line 53 the total of lines 38 through 52.
ESTATE
Enter the tax from line 20 on TC-41, line 22 and then
If you have federal adjustments written in on line 36 of
complete the rest of the TC-41 fi duciary return. Attach
federal form 1040, enter the description and amount of
the TC-41C, page 1 to your fi duciary return. (Do not
the Utah portion of these adjustments on TC-41C on
complete or attach TC-41C, page 2 to your return.)
the line beneath line 52, and include the amount in the
total on line 53.
NON OR PART-YEAR RESIDENT BANKRUPTCY
ESTATE
Column B – Total Income and Adjustments:
Enter the tax from line 20 on TC-41, line 22. Complete
Enter on lines 21 through 35 the total income (loss) from
lines 23 through 25 on the TC-41. Then complete TC-
all sources you reported on your federal return, as noted
41C, page 2 to determine your apportioned Utah tax.
on the TC-41C.
Enter the tax from line 57 on TC-41C, page 2 on your
Enter on line 36 the total additions to income shown on
TC-41, line 26 and then complete the rest of the TC-41
TC-40, Schedule A, Part 1.
fi duciary return.
Enter on line 37 the total of lines 21 through 36.
Non or Part-year Resident (lines 21 - 57)
If fi ling for a nonresident or part-year resident bankruptcy
Enter on lines 38 through 50 adjustments claimed on
estate, complete form TC-41C, page 2 and attach it to
your federal return, as noted on the TC-41C.
the TC-41 return.
Enter on line 51 the state tax refund included on line 10
Residency Status
of federal form 1040.
• If a nonresident, enter the two-character home state
Enter on line 52 the total subtractions from income shown
postal abbreviation. If you are a resident of a foreign
on TC-40, Schedule A, Part 2.
country (a foreign national of citizen), enter “NA” in
the home state abbreviation fi eld.
Enter on line 53 the total of lines 38 through 52.
•
If a part-year resident, enter the date you established
If you have federal adjustments written in on line 36 of
residency in Utah and the date such residency ended.
federal form 1040, enter the description and amount of
Enter dates in mm/dd/yy format.
these adjustments on TC-41C on the line beneath line
Follow these steps to calculate your Utah tax.
52, and include the amount in the total on line 53.
1. Complete form TC-41C, page 1, through line 20.
5. Calculate line 54 by subtracting line 53 from line 37
2. Enter the tax from line 20 of TC-41C on line 22 of
for both columns A and B.
form TC-41.
3. Complete form TC-41, lines 23 through 25.
Note: The amount on line 54 in column B must equal
4. Complete form TC-41C, page 2.
the amount must on TC-41C, page 1, line 8.
Column A – Utah Income and Adjustments:
6. Divide the total on line 54 Column A by the total on
Enter on lines 21 through 35 all income (loss) earned or
line 54 Column B, and enter the result on line 55.
received from Utah sources while not a Utah resident,
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