2014 Utah: Municipal Bond Interest
Interest earned on non-Utah municipal bonds is not subject to Utah income tax if the issuing state does not impose an income tax on bonds issue by Utah or the issuing state does not have an income tax.
Certain taxpayers, who had municipal bond interest from certain states, may have filed an incorrect Utah tax return.
TurboTax has fixed this issue.
How to tell if you may be impacted
You may be affected if ALL of the following apply to you:
- You may be affected if all of the following apply to you:
- You filed your Utah state tax return prior May 1, 2015 AND
- You had municipal interest from:
- District of Columbia
- Indiana (for bonds acquired before 1/1/12)
- North Dakota (under the piggyback method)
- South Dakota
- That amount was included on Form TC 40-A, Part 1, Additions to Income
If you are affected, you may have overpaid your state tax. You may need to amend your Utah state tax return.
To amend your return:
- Follow these amend instructions for the TurboTax Online product.
- Follow these amend instructions for the TurboTax CD Download product.
- After you make the changes to your tax return, you will need to mail a copy of your amended state return.
- Your printed return will include instructions on how and where to mail it.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the 2014 Utah: Municipal Bond Interest.