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Retirement Credit (code 18)

UC §59-10-1019

If you (and/or your spouse, if filing jointly) were born on or before Dec. 31, 1952, you may take a retirement credit of up to $450. This credit is limited by the total of your modified adjusted gross income, nontaxable interest income, and any additions to income (TC-40A, Part 1).

Complete form TC-40C to calculate your retirement credit. Enter the amount from TC-40C, line 11 on TC-40A, Part 3, using code 18. Attach TC-40C to your Utah return.

Note: You may not carry back or forward any retirement credit that is more than your tax liability.

Note: The retirement credit is phased-out when modified adjusted gross income exceeds certain amounts based on filing status as shown on TC-40C, line 8. When calculating modified adjusted gross income on line 7, do not include any municipal bond interest on line 6 reported on TC-40A, Part 1, code 57.