Get 2005 Utah Credit For Income Tax Paid To Another State, Tc-40a

In this guide, you will learn how to successfully complete the 2005 Utah Credit For Income Tax Paid To Another State, TC-40A form online. This comprehensive walkthrough will provide step-by-step instructions tailored to help you navigate each section clearly.

Follow the steps to complete your TC-40A form effectively.

1. Click ‘Get Form’ button to obtain the TC-40A and open it in the editor.
2. Enter the taxpayer's last name in the designated field. This is necessary for identification purposes.
3. Input the taxpayer's social security number in the appropriate box to ensure accurate processing.
4. For line 1, provide the federal adjusted gross income that has been taxed by Utah and the other state you are claiming a credit for.
5. On line 2, enter the federal adjusted gross income from your federal tax return as instructed.
6. For line 3, calculate the portion of the other state's gross income to the total income. Divide line 1 by line 2 and round to four decimal places.
7. On line 4, input the amount from line 16b of your Utah income tax return. This is essential for calculating your credit.
8. In line 5, calculate the credit limitation by multiplying the amount from line 4 by the decimal on line 3.
9. For line 6, report the actual income tax paid to the state listed on line 1. Remember that part-year residents must prorate the tax paid.
10. On line 7, enter the credit for taxes paid to another state. This is either the amount from line 5 or line 6, whichever is less. Make sure to enter this on TC-40S, Part 3, using code 17.
11. Keep a signed copy of the other state's income tax return for your records, as it may be required in the future.

Complete your TC-40A form online today to ensure you receive the appropriate credit for taxes paid.