Form Tc-41 - Fiduciary Income Tax Return Instructions - 2011 Page 7
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282011 Utah Fiduciary Income Tax
Page 5
Worksheet Line Instructions:
• Capital Gain Transactions Credit
•
Line 1 – Interest. Enter the total interest paid or
• Utah Educational Savings Plan (UESP) 529 Plan
accrued, and deducted on the federal return (IRC
Credit
section 163).
• Qualifying Solar Project Credit
•
Line 2 – Taxes. Enter the total taxes paid or ac-
See instructions for TC-41A, Part 3, and an explanation
crued, and deducted on the federal return (IRC
of each addition to income beginning on page 10 of these
section 164). Do not include any amounts paid or
instructions.
accrued for state or local income taxes for the tax-
able year.
25. Subtract line 24 from line 23
•
Line 3 – Charitable Contributions. Enter the total
Apportionable nonrefundable credits cannot exceed
charitable contributions deducted on the estate or
the tax liability on the return. If the total of the credits
trust federal return. Do not include any amounts a
shown on line 24 is more than or equal to the tax on
qualifi ed nongrantor charitable lead trust deducts
line 23, enter “0.”
under IRC section 642(c).
FULL-YEAR RESIDENT – Enter the tax from line 25 on
•
Line 4 – Certain Fees. Enter the total deducted
line 26, then complete the rest of the return.
on the federal return for attorney, accountant, or
return preparer fees.
NON OR PART-YEAR RESIDENT ESTATE OR TRUST
•
Line 5 – Miscellaneous Deductions. Enter the total
– Enter the tax from line 25 on TC-41B, Non or Part-year
miscellaneous and other deductions deducted on
Resident Estate or Trust Schedule, line 20. Complete
the federal return.
TC-41B, enter the tax from TC-41B, line 21 on TC-41,
page 2, line 26, then complete the rest of the return.
Note: These deductions are used in the calculation of
the Estate or Trust Tax Credit even though they may
26. Enter Applicable Tax
also have been used in the calculation of income items
Full-year resident estate or trust: Enter the tax from
reported on the Schedules K-1.
line 25.
17. Initial Credit before Phase-out
Non or part-year resident estate or trust: Enter the
Multiply the amount on line 16 by 6% (.06).
tax from line 21 of TC-41B.
18. Base Phase-out Amount
See detailed instructions for the TC-41B on page 16.
The base phase-out amount for an estate or trust is
27. Nonapportionable Nonrefundable
$12,000.
Credits
19. Income Subject to Phase-out
The following nonapportionable nonrefundable credits
Subtract line 18 (the base phase-out amount) from line
are entered on TC-41A, Part 4. Enter the sum all nonap-
14 (Utah taxable income). If the result is zero or less,
portionable nonrefundable credits on line 27 of TC-41.
enter “0.”
• Qualifi ed Sheltered Workshop Cash Contribution
Credit
20. Phase-out Amount
• Clean Fuel Vehicle Credit
Multiply line 19 by 1.3% (.013). This is the credit phase-
• Historic Preservation Credit
out amount.
• Enterprise Zone Credit
• Low-Income Housing Credit
21. Estate or Trust Tax Credit
• Recycling Market Development Zone Credit
Subtract the phase-out amount on line 20 from the initial
• Credit for Increasing Research Activitiies in Utah
credit on line 17. If the result is zero or less, enter “0.”
• Carryover Credit for Machinery/Equipment Used to
Conduct Research
22. Utah Income Tax
• Credit for Taxes Paid to Another State
Subtract the estate or trust tax credit on line 21 from
• Renewable Residential Energy Systems Credit
the tax calculated on line 15. If the result is zero or less,
• Combat Related Death Credit
enter “0.”
See instructions for TC-41A, Part 4, and an explanation
Bankruptcy Estates. Enter the tax calculated on
of each nonapportionable nonrefundable credit beginning
TC-41C, line 20. See bankruptcy estate instructions
on page 11 of these instructions.
on page 17.
28. Subtract Line 27 from Line 26
23. Enter Tax from Line 22
Nonapportionable nonrefundable credits cannot exceed
Enter the tax from page 1, line 22.
your tax liability. If the total credits on line 27 is more
than or equal to the tax on line 26, enter “0”.
24. Apportionable Nonrefundable
Credits
29. Amended Return Only
The following apportionable nonrefundable credits are
Previous Refund
entered on TC-41A, Part 3. Enter the sum all apportion-
This line is only for an amended return. Enter the total
able nonrefundable credits on line 24 of TC-41.
of all refunds, credits, or offsets of state income tax re-
ceived for the tax year being amended. Do not include
refund interest.
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