Form Tc-41 - Fiduciary Income Tax - 2012 Page 7
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312012 Utah Fiduciary Income Tax
Page 5
Part-year Resident Defi ned
9. Estate Tax Deduction
A trust benefi ciary is a part-year Utah resident if domi-
Enter the amount of any estate tax deduction, including
ciled in Utah for part of the taxable year and outside of
certain generation-skipping taxes, deducted on your
Utah for part of the taxable year. For purposes of this
federal form 1041, line 19.
line only, enter an “X” in the box if any benefi ciary is a
10. Exemption
part-year resident.
Enter the exemption deduction taken on your federal
Nonresident Defi ned
form 1041, line 20.
A trust benefi ciary is a Utah nonresident if that ben-
efi ciary is not domiciled in Utah, or was in Utah for a
11. State Tax Refund Included in Fed-
temporary or transitory purpose for less than 183 days
eral Income
during the taxable year. In determining whether an indi-
(UC §59-10-202(2)(d))
vidual spends 183 or more days in Utah, a “day” means
Enter the amount of any state tax refund you included
a day in which the individual spends more time in Utah
in income on the federal form 1041 for the same year.
than in any other state.
12. Subtractions from Income
4. Federal Total Income
The following subtractions from income are entered on
Enter the federal total income from federal form 1041,
TC-41A, Part 2. Enter the sum of all subtractions from
line 9 or form 1041-QFT, line 5.
income on line 12 of TC-41.
• Interest from U. S. Government Obligations
Bankruptcy Estates. Trustees of an individual bankruptcy
• Native American Income
estate (chapter 7 or chapter 11) must complete TC-41C,
Bankruptcy Estate Tax Calculation, to determine the
• Railroad Retirement Income
• Equitable Adjustments
taxable income and tax liability of the estate. Follow these
• Nontaxable Income from Irrevocable Resident Trust
instructions for TC-41:
• Leave lines 4 through 21 blank.
• Nongrantor Charitable Lead Trust Charitable Contri-
bution
• Line 22, Utah income tax – enter the amount from
• Fiduciary Adjustments
TC-41C, line 20.
• For a resident bankrupt estate, complete lines
See instructions for TC-41A, Part 2, and an explanation
23 through 41 according to the regular fi duciary
of each subtraction from income beginning on page 10
instructions.
of these instructions.
• For a non or part-year resident bankrupt estate,
complete lines 23 through 25 according to the
13. Total Deductions
regular fi duciary instructions, then follow the in-
Add lines 7 through 12.
structions for TC-41C, page 2 (see page 20).
14. Utah Taxable Income (Loss)
5. Additions to Income
Subtract line 13 from line 6. This amount is used to
The following additions to income are entered on TC-41A,
calculate the tax on line 15.
Part 1. Enter the sum of all additions to income on line 5
15. Utah Tax
of TC-41.
• Lump Sum Distribution
Multiply the Utah taxable income on line 14 by 5% (.05)
• Utah Educational Savings Plan (UESP) 529 Plan
and enter the result on line 15. If the result is zero or
Addback
less, enter “0.”
• Municipal Bond Interest
Estate or Trust Tax Credit (lines 16 - 21)
• ESBT S Corporation Income
(UC §59-10-1020)
• Fiduciary Adjustments
Estates and trusts are allowed a credit against Utah tax
• Equitable Adjustments
based on the total of the interest expense, taxes paid,
See instructions for TC-41A, Part 1, and an explanation
charitable contributions, attorney/accountant/tax pre-
of each addition to income beginning on page 10 of these
parer fees, and certain miscellaneous deductions. The
instructions.
credit phases out for income over a specifi ed amount.
6. Total Adjusted Income
16. Allowable Deductions for Credit
Add line 4 and line 5.
Use the following worksheet to calculate the trust’s
allowable deductions. See line instructions below the
7. Fiduciary Fees for Administering
worksheet.
Estate or Trust
WORKSHEET FOR ALLOWABLE DEDUCTIONS
Enter any fi duciary fees deducted on your federal form
1. Interest
$__________
1041, line 12.
2. Taxes
$__________
3. Charitable contributions
$__________
8. Income Distribution Deduction
4. Attorney/accountant/return preparer fees $__________
Enter any income distribution deduction reported on
5. Miscellaneous deductions
$__________
your federal form 1041, line 18.
6. Total deductions (add lines 1 through 5)
$__________
.
Enter the amount from line 6 on line 16 of your TC-41
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