Working on my 2021 taxes and I came to a question with no help or guidance within TurboTax software. Here is what's stated:
"Property Owner's Residential Exemption Termination Declaration. Utah residential property owners can declare they no long qualify to receive a homeowner's exemption authorized under UC subsection 59-2-103 on their primary residence. Do you declare you no longer qualify to receive a residential exemption?" Options are "Yes" or "No"
We purchased our home back in August 2020, moving here from another state. We live in our home throughout the year.
I'm guessing the answer is "No", but I don't recall seeing this question before and it's quite foreign to me.
I'll be scanning various Utah.gov materials but also welcome input from others in the community.
