INSTRUCTIONS: UTAH RETIREMENT TAX SCHEDULE (Form TC-40C)
To claim a Utah retirement tax credit, you must complete a form TC-40C. This document can be found on the website of the Utah State Tax Commission.
Utah Retirement Tax Schedule TC-40C Step 1: At the top of the form, enter your name and Social Security number.
Utah Retirement Tax Schedule TC-40C Step 2: On line 1, give your date of birth. Those born after 1952 are not eligible for this credit.
Utah Retirement Tax Schedule TC-40C Step 3: Lines 2 through 4 is for those who were 65 or older at the end of the year. On line 2, make an "x" if you were 65 or older on the last day of the tax year in question. Mark another "x" if this applies to your spouse and you are filing jointly.
Utah Retirement Tax Schedule TC-40C Step 4: Enter the total number of "x" marks on line 2 on line 3.
Utah Retirement Tax Schedule TC-40C Step 5: Multiply line 3 by $450. Enter the resulting product on line 4.
Utah Retirement Tax Schedule TC-40C Step 6: Lines 5 through 10 is only for those who were not 65 at the end of the tax year. Enter an "x" on line 5 and one for your spouse if applicable.
Utah Retirement Tax Schedule TC-40C Step 7: On line 6, enter $288 in the column below each "x."
Utah Retirement Tax Schedule TC-40C Step 8: Enter your total qualified retirement income on line 7.
Utah Retirement Tax Schedule TC-40C Step 9: Multiply each value on line 7 by. 06 and enter the resulting product or products on line 8.
Utah Retirement Tax Schedule TC-40C Step 10: Enter the lesser of line 6 or line 8 on line 9.
Utah Retirement Tax Schedule TC-40C Step 11: Enter the total of both columns on line 9 on line 10.
Utah Retirement Tax Schedule TC-40C Step 12: Your credit is calculated on lines 11 through 18. Enter the sum of lines 4 and 10 on line 11.
Utah Retirement Tax Schedule TC-40C Step 13: Complete lines 12 through 18 as instructed. Your credit will be calculated on the last line and should be transferred to form TC-40A, Part 3.
Utah Retirement Tax Schedule TC-40C Step 14: Submit this form along with your Utah income tax return.
