Click on description for additional information
| Tax Year | |||||
|---|---|---|---|---|---|
| 2007 | 2006 | 2005 | 2004 | Description | Code |
| X | X | X | X | Lump Sum Distribution | 51 |
| X | X | X | X | State Taxes Allocated from an Estate or Trust | 52 |
| X | X | X | X | Medical Savings Account (MSA) | 53 |
| X | X | X | X | Utah Educational Savings Plan (UESP) | 54 |
| X | X | X | X | Reimbursed Adoption Expenses | 55 |
| X | X | X | X | Child's Income Excluded from Parent's Return | 56 |
| X | X | X | X | Municipal Bond Interest | 57 |
| X | X | X | – | Untaxed Income of a Resident Trust | 60 |
| X | X | X | – | Untaxed Income of a Nonresident Trust | 61 |
| X | X | – | – | Equitable Adjustments | 69 |
If you received a lump sum distribution and filed federal form 4972, add any amount shown on Part II, line 6 and the amount shown on Part III, line 10 of federal form 4972.
If you shared a lump sum distribution, first multiply the amount on line 10 of form 4972 by the distribution percentage shown in box 9a on your form1099-R . Then add the amount shown on Part II, line 6 on form 4972.
Keep a copy of federal form 4972 and any 1099-R forms showing the distribution with your records.
If state taxes were allocated to you by the fiduciary, include that amount.
Utah Residents Only
The account holder of an MSA should receive a form TC-675M, Statement of Withholding for Utah Medical Savings Account, from the account administrator each year contributions are made. Include the sum of lines 8 and 9 from form TC-675M. Keep form TC-675M with your records.
An account holder (participant) in the Utah Educational Savings Plan should receive a form TC-675H, Statement of Contribution for Utah Educational Savings Plan, from the UESP trustee. Any amount of principal refunded for which the account holder received a prior tax deduction, must be added back to income. The principal amount refunded is shown in box 3 of form TC-675H.
Keep form TC-675H with your records. Contact UESP at (801) 321-7188 or 1-800-418-2551 or visit www.uesp.org for more information.
Include any adoption expense deducted from Utah income in any prior taxable year for which you received reimbursement from your insurance company, a public welfare agency, or a private charitable organization in the current year.
Parents who elect to report a child's interest and dividends on their federal return must add to their Utah income any child's income excluded from the parent's federal adjusted gross income. Use the following worksheet to calculate the amount to be added back.
| 1. | Enter $1,700 (if 2007 or 2006) or $1,600 (if 2005 or 2004), OR the sum of the child's taxable interest, ordinary dividends and capital gains distributions (federal form 8814, line 4), whichever is less. | $ | |||
| 2. | Enter the federal amount not taxed of $850 (if 2007 or 2006) or $800 (if 2005 or 2004) | $ | |||
| 3. | Subtract line 2 from line 1. If less than zero, enter zero. Add this amount to Utah income. | $ | |||
Interest from certain bonds, notes and other evidences of indebtedness (commonly known as municipal bonds) issued by non-federal governmental entities outside Utah will be subject to Utah income tax if acquired after January 1, 2003. However, interest earned on non-Utah municipal bonds will not be subject to Utah tax if the state (or political subdivision) issuing the bonds does not impose an income tax on bonds issued by Utah. For detailed information and a reciprocity list, click here.
Include any distribution received by a resident beneficiary of a resident trust of income that was taxed at the trust level for federal tax purposes, but was subtracted from state taxable income of the trust.
Include any distribution received by a resident beneficiary of a nonresident trust of income that was taxed at the trust level for federal tax purposes, but was not taxed at the trust level by any state.
Enter any qualified equitable adjustment needed to prevent receiving a double tax benefit or suffering a double tax detriment. Attach a schedule or explanation of any equitable adjustments reported.
