What is Utah's Gold and Silver Coin Sale Credit?
Gains from the sale of gold or silver coins issued by the United States government reported on your federal tax return are eligible for a Utah tax credit.
You can only include gains from sales that happened during 2025 and if they're on your federal Schedule D.
Use the instructions below to calculate the amount of credit:
Note: Capital gains from the sale of gold or silver bullion or coins not issued by the United States government can qualify for this credit if a court issues a final judgment determining that Utah can recognize that gold or silver as legal tender.
There is no form for this credit. For more information visit Utah's website .
You can only include gains from sales that happened during 2025 and if they're on your federal Schedule D.
Use the instructions below to calculate the amount of credit:
- Find the total gains on all sales of gold and silver coins
- Find the total losses on all sales of gold and silver coins
- Subtract line 2 from line 1 (if negative, you can't claim this credit)
- Find the amount from Form 1040 Schedule D, Line 16 (if negative, you can't claim this credit)
- Determine the lesser of line 3 or line 4
- Multiply line 5 by 0.045
Note: Capital gains from the sale of gold or silver bullion or coins not issued by the United States government can qualify for this credit if a court issues a final judgment determining that Utah can recognize that gold or silver as legal tender.
There is no form for this credit. For more information visit Utah's website .
