Utah § 59-10-1404 Character of an item of income, gain, loss, deduction, or credit.

Utah Statutes

§ 59-10-1404 — Character of an item of income, gain, loss, deduction, or credit.

Utah § 59-10-1404

Title 59Revenue and Taxation

Ch. 59-10Individual Income Tax Act

Part 59-10-14Pass-Through Entities and Pass-Through Entity Taxpayers Act

This text of Utah § 59-10-1404 (Character of an item of income, gain, loss, deduction, or credit.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 59-10-1404 (2026).

Text

Regardless of whether or how an item of income, gain, loss, deduction, or credit is characterized for federal income tax purposes, that item of income, gain, loss, deduction, or credit is from the same source and incurred in the same manner for a pass-through entity taxpayer as if the item of income, gain, loss, deduction, or credit is:

(1)realized directly from the source from which the item of income, gain, loss, deduction, or credit is realized by the pass-through entity; or

(2)incurred in the same manner as incurred by the pass-through entity.

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Regardless of whether or how an item of income, gain, loss, deduction, or credit is characterized for federal income tax purposes, that item of income, gain, loss, deduction, or credit is from the same source and incurred in the same manner for a pass-through entity taxpayer as if the item of income, gain, loss, deduction, or credit is:
(1) realized directly from the source from which the item of income, gain, loss, deduction, or credit is realized by the pass-through entity; or
(2) incurred in the same manner as incurred by the pass-through entity.