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Utah Code — Title 59 (Revenue and Taxation)

Utah Code § 59-10-210

Fiduciary adjustments

Official textle.utah.gov13 subsections

# (1)

A share of the fiduciary adjustments described in Subsection (2) shall be added to or subtracted from unadjusted income:

# (a)

of:

(i) a resident or nonresident estate or trust; or

(ii) a resident or nonresident beneficiary of a resident or nonresident estate or trust; and

# (b)

as provided in this section.

# (2)

For purposes of Subsection (1), the fiduciary adjustments are the following amounts:

# (a)

the additions to and subtractions from unadjusted income of a resident or nonresident estate or trust required by Section 59-10-202; and

# (b)

a tax credit claimed by a resident or nonresident estate or trust as allowed by:

(i)
Section 59-6-102;

(ii) Part 10, Nonrefundable Tax Credit Act;

(iii) Part 11, Refundable Tax Credit Act;

(iv)
Section 59-13-202; or

(v)
Section 63N-2-213.

# (3)

# (a)

The respective shares of an estate or trust and its beneficiaries, including for the purpose of this allocation a nonresident beneficiary, in the state fiduciary adjustments, shall be allocated in proportion to their respective shares of federal distributable net income of the estate or trust.

# (b)

If the estate or trust described in Subsection (3)(a) has no federal distributable net income for the taxable year, the share of each beneficiary in the fiduciary adjustments shall be allocated in proportion to that beneficiary's share of the estate or trust income for the taxable year that is, under state law or the governing instrument, required to be distributed currently plus any other amounts of that income distributed in that taxable year.

# (c)

After making the allocations required by Subsections (3)(a) and (b), any balance of the fiduciary adjustments shall be allocated to the estate or trust.

# (4)

# (a)

The commission shall allow a fiduciary to use a method for determining the allocation of the fiduciary adjustments described in Subsection (2) other than the method described in Subsection (3) if using the method described in Subsection (3) results in an inequity:

(i) in allocating the fiduciary adjustments described in Subsection (2); and

(ii) if the inequity is substantial:

(A) in amount; and

(B) in relation to the total amount of the fiduciary adjustments described in Subsection (2).

# (b)

In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules authorizing a fiduciary to use a method for determining the allocation of the fiduciary adjustments described in Subsection (2) other than the method described in Subsection (3) if using the method described in Subsection (3) results in an inequity:

(i) in allocating the fiduciary adjustments described in Subsection (2); and

(ii) if the inequity is substantial:

(A) in amount; and

(B) in relation to the total amount of the fiduciary adjustments described in Subsection (2).

Last amended: Amended by Chapter 247, 2019 General Session

Source: view the official text

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In this chapter (40 sections)
  1. 59-10-117 · State taxable income derived from Utah sources
  2. 59-10-117.5 · Nonresident individual wage exemption
  3. 59-10-118 · Division of income for tax purposes
  4. 59-10-119 · Returns by husband and wife if husband or wife is a…
  5. 59-10-120 · Change of status as resident or nonresident
  6. 59-10-121 · Proration when two returns required
  7. 59-10-122 · Taxable year
  8. 59-10-123 · Accounting method
  9. 59-10-124 · Adjustments between taxable years after change in…
  10. 59-10-125 · Adjustment after change of accounting method
  11. 59-10-126 · Business entities not subject to tax -- Exceptions
  12. 59-10-136 · Domicile
  13. 59-10-137 · Review of credits allowed under this chapter
  14. 59-10-201 · Taxation of resident trusts and estates
  15. 59-10-201.1 · State taxable income of a resident estate or trust defined
  16. 59-10-202 · Additions to and subtractions from unadjusted income of a…
  17. 59-10-204 · State taxable income of a nonresident estate or trust
  18. 59-10-205 · Tax on nonresident estate or trust
  19. 59-10-207 · Share of a nonresident estate or trust and beneficiaries in…
  20. 59-10-209.1 · Adjustments to unadjusted income
  21. 59-10-210 · Fiduciary adjustments
  22. 59-10-401 · Definitions
  23. 59-10-402 · Requirement of withholding -- Exceptions
  24. 59-10-403 · Circumstances under which an employer is not required to…
  25. 59-10-404 · Extension of withholding to payments other than wages
  26. 59-10-405 · Voluntary withholding agreements
  27. 59-10-405.5 · Definitions -- Withholding tax license requirements --…
  28. 59-10-406 · Collection and payment of tax -- Forms filed electronically
  29. 59-10-407 · Withholding tax prepayments
  30. 59-10-408 · Withholding rules -- Agreements with federal government
  31. 59-10-501 · Rulemaking authority -- Federal income tax return…
  32. 59-10-502 · Persons required to file returns
  33. 59-10-503 · Returns by husband and wife
  34. 59-10-504 · Returns made by fiduciaries and receivers
  35. 59-10-505 · Return by minor
  36. 59-10-507 · Return by a pass-through entity
  37. 59-10-508 · Returns with respect to common trust funds
  38. 59-10-509 · Notice of qualification as fiduciary
  39. 59-10-510 · Return of electing small business corporation
  40. 59-10-511 · Statement of tax withheld
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