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Screen UTCr — Utah Credits (1040)

Apportionable Nonrefundable Credits

Enter the dollar amount the credit is based on. The credit is 5% of the amount.
Enter the number of beneficiaries and contribution for the year from Form TC-675H. The credit calculates as 5% of the total contribution, limited by the maximum contribution per beneficiary.
Exclude amounts entered on the federal
1099Q
 screen with
State use
 code
15
.
Enter the capital gains and/or losses recognized on the sale or exchange of gold or silver coins. These amounts are used to calculate the
Gold and Silver Coin Sale Credit Worksheet
. The calculated credit is included on Form TC-40A, Part 3.

Nonapportionable Nonrefundable Credits

Use this section to complete Form TC-40A Part 4, Nonapportionable Nonrefundable Credits. To claim the Achieving a Better Life Experience Program (ABLE) credit, enter the amount contributed in the current year, State code
UT
, and State use code
24
 on the federal
1099QA
 screen. The credit calculates at 5 percent of contributions.
Indicate which parent is the at-home parent. The credit is $100 per eligible child, as indicated by state use code
14
 in the
Dependent information
 statement on the federal
1040
 screen. The at-home parent's earnings from wages or self-employment can't exceed $3,000 and the joint federal AGI can't exceed $50,000.
Enter the name of the workshop and the total cash contribution amount. The Form TC-40 credit amount is limited to the lesser of $200 or one-half of the total cash contribution.
Enter the total cost incurred to restore residential certified historic buildings. The Utah State Historic Preservation Tax Credit program offers 20% credit for qualified expenses. Refer to Form TC-40H instructions for details.
Enter qualified expenses incurred in connection to increasing research activities in Utah. Refer to Form TC-40 instructions for allowable credit amounts for increasing research activities.
Enter carry forward of research machinery and equipment credit claimed for tax year after 1998, but before 2011. Refer to Form TC-40 instructions for details.
Enter qualified expenses incurred for donating organs. This credit is limited to $10,000 of qualified expenses a year with the balance allowed to be carried forward. Refer to Form TC-40T for record retention requirements and other details.
Enter expenses incurred in connection with a residential energy system installation. Utah recommends that a
Form TC-40E - Renewable Residential and Commercial Energy Systems Tax Credits certificate
 should be obtained from the Governor's Office of Energy Development showing the amount of the approved credit.
Indicate which spouse(s) qualifies for this credit. This credit calculates automatically. For a part-year resident's combat-related death, enter an amount if different from the calculated amount.
Enter the amount of credit approved by the Department of Workforce for hiring veterans. Refer to Utah's Department of Workforce Services website for qualification and application details.
Enter the amount of credit approved by the Department of Workforce for hiring a homeless person. This credit can be carried forward for the next five years. Refer to Utah's Department of Workforce Services website for details.
Utah allows this credit for a surviving spouse or dependent child of a deceased military member for taxes paid on the survivor benefits. If the deceased service member was retired, take the Military Retirement Credit (code AJ).
Enter the amount of Carson Smith opportunity credit approved by the scholarship granting organization. This credit is up to 100% of the qualified contribution. If the taxpayer claimed this donation as an itemized deduction on the federal return, this credit may not be claimed.
Enter the amount of PTE credit carryover from prior years.  This carryover will display as Code AP on Form TC-40A, Part 4.  If you entered a current year PTE credit on Screen K1-4 also, Code AP will include current year credit plus carryovers from prior years.  PTE credit carryforwards will not show up as Code 67 addition on Form TC-40A, part 1 because this credit carryforwards were already part of addition last year.  Currently, UltraTax does not keep track of any unused PTE carryovers.

Refundable Credits

Enter the approved amount of commercial energy systems credit from Form TC-40E.
Enter the total gallons of motor fuel and undyed diesel fuel purchased in Utah and used for commercial non-highway agricultural use. The credit amount calculates at a specified rate per gallon.
Enter the amount of sales and use tax paid for hand tools purchased and used or consumed primarily and directly in a farming operation in Utah. The credit only applies if the purchase price of a tool is more than $250.

Other Credits

Use this section to complete Form TC-40A Part 4 Nonapportionable Nonrefundable Credits and Part 5 Refundable Credits.
Enter 2-character codes for refundable and nonrefundable credits, along with the amount of credit to claim in this statement. Valid entries are shown on Schedule TC-40A as nonapportionable nonrefundable credits or as refundable credits. Attach any necessary documentation.
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