Form Instructions 709 West Valley City Utah 2024-2025

Form Instructions 709 West Valley City Utah: What You Should Know

If you chose multiple cities and counties, you must include a separate column for your city and county of the place of business. 10. 12, Enter the amounts in the yellow boxes.  Note that if you are purchasing a business entity, enter in line 24. If you are entering an inheritance, enter in line 35. 10.13, 11,12, 13, 14) Complete as much as needed to complete all forms on this sheet.  The following instructions for Form 5400 and Form 709 are for residents of Utah. Form 5400 Form 709 (1) If you have purchased a business (including a business interest of yourself, your spouse, or your partner), and you are filing the tax return because it is your first time filing your individual tax return, complete the Schedule of Personal Property and Property Interests. (2) If you have purchased a business interest in a partnership, sole proprietorship (or similar business entity), or general partnership interest, file the Schedule of Personal Property and Property Interests as Part I of your returns. (3) Use line 10 of the form to report all property or interest to which income attributable to the business interest is exempt. This includes the following: (a) Property or interests that belong to you (the “personal property”), (b) Property or interests owned by a partnership, sole proprietorship (or similar business entity), general partnership interest, or any entity in which you have a 25 percent or greater ownership interest (the “corporate property”) held by the partnership, sole proprietorship (or similar business entity), general partnership interest, or any entity in which you have a 25 percent or greater ownership interest (the “corporate property”) held by a member of the partnership, sole proprietorship (or similar business entity), general partnership interest, or any entity in which you have a 25 percent or greater ownership interest (the “corporate property”) held by one (or a limited number of members) of the partnership, sole proprietorship (or similar business entity), general partnership interest, or any entity in which you have a 25 percent or greater ownership interest (the “corporate property”).

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