What Are Utah's Apportionable Nonrefundable Credits?

Apportionable nonrefundable credits can reduce your income tax to zero, but any credit greater than the tax will not be refunded. Below is a list of Utah's Apportionable nonrefundable credits. 

Capital Gains Transaction Credit

You may claim a credit for the short-term and long-term capital gain on a transaction if the following apply: 

1. the transaction occurs on or after January 1, 2008,
2. At least 70 percent of the gross proceeds of the transaction are used to buy stock in a qualified Utah small business corporation within 12 months from when the capital gain transaction occurred, and 
3. You did not have an ownership interest in the qualified Utah small business corporation at the time of investment. 

my529 Credit

You may claim a nonrefundable credit if you made qualified contributions to your Utah Educational Savings Plan. To qualify, the contribution must be made during the tax year and must not have been deducted on your federal return. 

Health Benefit Plan Credit

You may claim this credit if you purchased your own health insurance and were not eligible to participate in a health benefit plan maintained and funded through your employer or former employer. You do not qualify for this credit if you and or your spouse had the option to get health insurance through your employer or former employer, even if you chose not to use the employer's plan. 

Note: Amounts not included in your federal taxable income and amounts used to claim a federal credit cannot be used for this credit. 

Gold and Silver Coin Sale Credit

Capital gains from the sale or exchange of gold and silver coins that were issued by the U.S. government and reported on your federal return, may be eligible for a credit against Utah tax.

To qualify for this credit, all of the following conditions must apply: 

1. The capital gain transaction must be for the sale or exchange of gold or silver coin issued by the federal government, for another form of legal tender,
2. The capital gain transaction must result in a short or long-term capital gain reported on Schedule D on your federal return,
3. Any eligible capital gain must first be offset by any capital loss for the year for federal purposes, and
4. The transaction must be made during the tax year.

Retirement Credit

If you and or your spouse were born on or before December 31, 1952, may take a retirement credit of up to $450.

Note: You may not take this credit if you and or your spouse claim either the Social Security Benefits Credit or the Military Retirement Credit.

Social Security Benefits Credit 

You may qualify for this credit if you or your spouse received taxable Social Security retirement, disability or survivor benefits. You may only claim this credit for Social Security benefits included in adjusted gross income on this return.

Note: You may not claim this credit if you and or your spouse claim the Retirement Credit. 

Military Retirement Credit 

You may qualify for this credit if you and or your spouse received taxable military retirement pay. Military pay means retirement pay related to service in the armed forces, including retirement pay received by a survivor of a deceased service member. You may only claim this credit for military retirement income included in adjusted gross income reported on this return. 

Nonrefundable Adoption Expenses Credit

If you finalized an adoption during the tax year, you may be eligible to claim a credit of up to $3,500 for expenses related to the adoption.

Note: You may carry forward for the next 3 years any credit that is more than your tax liability. 

Where do I enter the credit(s)?

To make these manual entries within the program, go to:

For a more detailed description of these credits, please click here.