Form Tc-40c - Retirement Tax Credit Schedule - 2014
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1Retirement Tax Credit Schedule
TC-40C
40407
2014
SSN
Last name
USTC ORIGINAL FORM
Part 1 - Taxpayer Information
You
Spouse
mm/dd/yy
mm/dd/yy
Part 2 - Age 65 or over - Credit
You
Spouse
2
Enter “X” if you were age 65 or older by December 31, 2014 (or date of death)
2
3
Enter the total number of X’s on line 2
3
.00
4
Multiply line 3 by $450
4
Part 3 - Under age 65 - Retirement Income Credit
You
Spouse
5
Enter “X” if you were under age 65 and born before January 1, 1953
5
.00
.00
6
If you entered an “X” on line 5, enter $288 in the same column
6
.00
.00
7
Total qualified retirement income for taxpayer checked on line 5 (see instr.)
7
.00
.00
8
Multiply the amount on line 7 for each column by 6% (.06)
8
.00
.00
9
Enter the lesser of line 6 or line 8 for each column
9
.00
10 Total of line 9 for both columns
10
Part 4 - Calculation of Credit
.00
11 Add lines 4 and 10
11
.00
12 Total income from TC-40, line 6
12
.00
13 Nontaxable interest income (from 1040 or 1040A, line 8b) (see instr.)
13
.00
14 Modified adjusted gross income (add line 12 and line 13)
14
.00
15 Enter:
$16,000, if married filing separately
15
$25,000, if single
$32,000, if married filing jointly or qualified widow(er)
$32,000, if head of household
.00
16 Subtract line 15 from line 14 (not less than zero)
16
.00
17 Multiply line 16 by 2.5% (.025)
17
.00
18 Retirement credit - subtract line 17 from line 11 (not less than zero)
18
Enter this amount on TC-40A, Part 3, using code 18
Submit page ONLY if data entered.
Attach completed schedule to your Utah Income Tax Return.
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