Utah residents who donate an organ get more than the satisfaction of helping someone else live. They could get a tax credit of up to $10,000.
The Live Organ Donation Expenses Credit can be claimed for certain expenses incurred by a taxpayer who donates one or more of their qualified organs. The tax-approved donations are bone marrow or any part of an intestine, kidney, liver, lung or pancreas.
Eligible expenses related to such donations include travel, lodging and lost wages.
The credit is nonrefundable, meaning it can reduce your Beehive State tax bill to zero but you won't get any excess back. However, you can carry forward unused credit for five years to offset tax bills in those years.
To claim the credit fill out form TC-40T. You don't send it with your return. Instead, keep it for your records, but enter the amount from the 40T on form TC-40A, and submit that schedule with your state tax return, TC-40.
Tax trip around the United States: This post is part of our series highlighting tax information from the 50 U.S. states and Washington, D.C. You can read other state tax blurbs at our Complete menu of tasty state tax tidbits.
The State Tax Departments page provides links to official state and District of Columbia revenue Web sites so that you can find out more about your home's tax laws and filing requirements.
As we work through the 2010 tax season, a different state will be featured each day as noted in Don't forget your state taxes! Check back to see what tax tidbit we share about your home.
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