Form Tc-20 - Utah Corporation Franchise Or Income Tax Return Instructions - 2011 Page 19
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25Line 11 – Interest Expense
If you are a UESP account owner, you will receive form
TC-675H, Utah Educational Savings Plan Tax State-
Enter interest expense not deducted on the federal
ment for Contributions, Withdrawals, and Transfers,
corporate return under IRC §§265(b) or 291(e).
from UESP. Deduct on line 13 the qualifi ed amount
Line 12 – Dividends from Admitted Insurance
from line 1 of form TC-675H. Keep form TC-675H with
your records. If you have any questions about UESP ac-
Company Subsidiaries
counts, call UESP at 801-321-7188 or 1-800-418-2551,
Enter dividends received from admitted insurance com-
or visit .
pany subsidiaries exempt under UC §59-7-102(1)(c).
Line 14 – Dividends Received from a Captive Real
Line 13 – Contributions to the Utah
Estate Investment Trust by a Member of the Unitary
Educational Savings Plan (UESP)
Group
(UC §59-7-106(1)(r))
If a qualifi ed contribution was made to your Utah Edu-
If any member of the unitary group is a “controlling
cational Savings Plan (UESP) 529 account, you may
entity of a captive real estate investment trust,” include
claim a deduction on line 13. To qualify, the contribution
the dividends received or deemed received from each
must be made during the taxable year and not deducted
captive real estate investment trust.
on your federal return. The deduction is limited to the
Line 15 – IRC Section 857(b)(2)(E) Deduction
amount of the contributions made (up to $1,740) during
the tax year per qualifi ed benefi ciary.
from a Captive REIT
Enter the amount of any federal deduction taken under
IRC §857(b)(2)(E) on federal form 1120-REIT for each
captive real estate investment trust included in the Utah
combined group.
Line 16 – Total Subtractions
Add lines 1 through 15. Enter the result on line 16 and
on Schedule A, line 4.
Schedule D – Utah Contributions
Deduction Instructions
Utah allows a deduction for charitable contributions
Line 4 – Utah Contribution Carryforward
(UC §59-7-109).
Charitable contributions which exceed the allowable
deduction for Utah may be carried forward to the fi ve
Line 1 – Apportionable Income Before
succeeding taxable years in the same manner as allowed
Contributions Deduction
under federal law. Enter the excess Utah contributions
Enter amount from Schedule A, line 9. If this is a loss,
carried forward to this tax year. Attach a schedule show-
no contribution deduction is allowed.
ing contributions made that exceed the Utah contribution
limitation and that have not been previously deducted and
Line 2 – Utah Contribution Limitation
are available to be carried forward to the current year.
Charitable contributions for the current year, including
Line 5 – Total Contributions Available
excess contributions carried forward from a prior year,
cannot exceed 10 percent of the apportionable income
Add line 3 and line 4.
before contributions. (See UC §59-7-109(2)).
Line 6 – Utah Contributions Deduction
Multiply line 1 by 10% (.10) and enter the limitation
Enter the lesser of line 2 or line 5 here and on Schedule
amount.
A, line 10.
Line 3 – Current Year Contributions
Line 7 – Contributions Carryover to Next Year
Enter charitable contributions made for the current year.
Subtract line 6 from line 5. This is the amount of your
Utah contribution carryover to the next taxable year.
Page 17
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