We have identified an issue with the military retirement credit in Utah and are researching it.
The actual change to the tax code in Utah was that taxpayers receiving military retirement income receive a non-refundable tax credit of 4.95% of the distribution reported in income, so the military retirement still appears as taxable income but credit is applied to compensate for it. See this Utah page.
NOTE: you can't take the military tax credit if you claim either the Social Security Benefits Credit or the Retirement Credit. Please see this Utah page.
TurboTax will identify which of the credits gives you the best result and apply it automatically.
Let us work on the military retirement credit...
@dkubiaksr
@ewjohn1
@Phillysteak19127
Utah Military Retirement Updates
