Form 4972 UT 2024-2025

Form 4972 UT: What You Should Know

Current Revision. Using 2025 tax year—Tax on Lump‑Sum Distributions Use Form 4972 for tax  on a qualified lump‑sum distribution (defined below) you received from 2025 using the 2025 tax year 10-year tax plan or 2025 tax year income rate of  35% or greater. Current Revision. 2016–2017 tax year Schedule R—Capital Gains (Section 1246) If you received a qualified distribution from the IRS or if you received money (other than from the IRS) from the employer, enter the total of the amounts shown you on Part II, line 5 and on Part III, line 10. Keep the Schedule R—Capital Gains (Form 1040) so you can include any taxable income in the amount of income tax that accrued during the year. If you received Form 4868 from a financial institution, attach Schedule R, and make sure the amount of the distribution is entered on the Schedule R. Keep a Schedule R —W-2 on file and also enter on  Form RPT—Other Amount Withheld From Payments of Capital Gains, etc.—2016–2017 Schedule R—Capital Gains (Form 1040) Form 4868 —Payment of Capital Gains, etc.—Federal Income Tax Return Use this form to figure the tax on a qualified lump‑sum distribution (defined below) you received from Federal income tax filing in 2025 or 2025 using your tax return for the year that you received the distribution. If you withdrew income tax credits during the year, you can deduct your allowable deductions (such as the 600 deduction for qualified tuition and related expenses) from the amount you receive in box 7 of Form 4868. Form W-2 —Withheld Wage or Incomes Tax Use this form to figure the tax on a qualified lump‑sum distribution (defined below) you received from Federal income tax filing for the previous year using your tax return for the previous year. Keep a Form W-2 on file, and also file the 2025 Form W-2 with the return for the year in which you receive the distribution to claim the benefits of filing for the year with the IRS. Form 1040—Adjusted Gross Income Use this form to figure the tax on a qualified lump‑sum distribution (defined below) you received from Federal income tax filing for the previous year using your adjusted gross income.

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