Schedule IN-112 "Vermont Tax Adjustments and Credits" - Vermont

What Is Schedule IN-112?

This is a legal form that was released by the Vermont Department of Taxes - a government authority operating within Vermont. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on October 1, 2019;
  • The latest edition provided by the Vermont Department of Taxes;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Schedule IN-112 by clicking the link below or browse more documents and templates provided by the Vermont Department of Taxes.

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Vermont Department of Taxes
*1911211WW*
2019 Schedule IN-112
* 1 9 1 1 2 1 1 W W *
Vermont Tax Adjustments and Credits
Please PRINT in
BLUE or BLACK INK
INCLUDE WITH FORM IN-111
Taxpayer’s Last Name
First Name
MI
Taxpayer’s Social Security Number
PART I
ADDITIONS TO FEDERAL ADJUSTED GROSS INCOME
1. Total interest and dividend income from all state and local
.00
obligations exempt from federal tax (Reported on federal Form 1040) . . . 1. ____________________________
2. Interest and dividend income from Vermont state and local
.00
obligations included in Line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. ____________________________
3. Income from Non-Vermont State and Local Obligations
.00
(Subtract Line 2 from Line 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. ____________________________
.00
4. Bonus Depreciation Allowed under Federal Law for 2019 . . . . . . . . . . . . . 4. ____________________________
.00
5. Total Additions (Add Line 3 and Line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. _____________________________
SUBTRACTIONS FROM FEDERAL ADJUSTED GROSS INCOME
.00
6. Interest Income from U .S . Obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. ____________________________
.00
7. Capital Gains Exclusion (Schedule IN-153, Line 21) . . . . . . . . . . . . . . . . . 7. ____________________________
.00
8. Adjustment for Prior Years’ Bonus Depreciation . . . . . . . . . . . . . . . . . . . . 8. ____________________________
9. Taxable Refunds of State and Local Income Taxes
.00
(Reported on federal Form 1040) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. ____________________________
.00
10. Medical Expense Deduction (see the worksheet in the instructions) . . . . 10. ____________________________
11. Social Security Benefits Exempt from Taxation
.00
(see the worksheet in the instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. ____________________________
.00
12. Railroad Retirement income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. ____________________________
.00
13. Bond/note interest income from (see below) . . . . . . . . . . . . . . . . . . . . . . . 13. ____________________________
Build
Vermont Telecom
Vermont Public Power
VSAC
America
Authority
Supply Authority
.00
14. Total Subtractions (Add Lines 6 through 13) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. _____________________________
NET MODIFICATIONS TO FEDERAL ADJUSTED GROSS INCOME
Check to
.00
ç indicate
15. Subtract Line 14 from Line 5 . Enter on Form IN-111, Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15. ______________________________
loss
This can be a negative number .
Schedule IN-112
5432
Page 1 of 2
Rev. 10/19
Vermont Department of Taxes
*1911211WW*
2019 Schedule IN-112
* 1 9 1 1 2 1 1 W W *
Vermont Tax Adjustments and Credits
Please PRINT in
BLUE or BLACK INK
INCLUDE WITH FORM IN-111
Taxpayer’s Last Name
First Name
MI
Taxpayer’s Social Security Number
PART I
ADDITIONS TO FEDERAL ADJUSTED GROSS INCOME
1. Total interest and dividend income from all state and local
.00
obligations exempt from federal tax (Reported on federal Form 1040) . . . 1. ____________________________
2. Interest and dividend income from Vermont state and local
.00
obligations included in Line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. ____________________________
3. Income from Non-Vermont State and Local Obligations
.00
(Subtract Line 2 from Line 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. ____________________________
.00
4. Bonus Depreciation Allowed under Federal Law for 2019 . . . . . . . . . . . . . 4. ____________________________
.00
5. Total Additions (Add Line 3 and Line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. _____________________________
SUBTRACTIONS FROM FEDERAL ADJUSTED GROSS INCOME
.00
6. Interest Income from U .S . Obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. ____________________________
.00
7. Capital Gains Exclusion (Schedule IN-153, Line 21) . . . . . . . . . . . . . . . . . 7. ____________________________
.00
8. Adjustment for Prior Years’ Bonus Depreciation . . . . . . . . . . . . . . . . . . . . 8. ____________________________
9. Taxable Refunds of State and Local Income Taxes
.00
(Reported on federal Form 1040) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. ____________________________
.00
10. Medical Expense Deduction (see the worksheet in the instructions) . . . . 10. ____________________________
11. Social Security Benefits Exempt from Taxation
.00
(see the worksheet in the instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. ____________________________
.00
12. Railroad Retirement income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. ____________________________
.00
13. Bond/note interest income from (see below) . . . . . . . . . . . . . . . . . . . . . . . 13. ____________________________
Build
Vermont Telecom
Vermont Public Power
VSAC
America
Authority
Supply Authority
.00
14. Total Subtractions (Add Lines 6 through 13) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. _____________________________
NET MODIFICATIONS TO FEDERAL ADJUSTED GROSS INCOME
Check to
.00
ç indicate
15. Subtract Line 14 from Line 5 . Enter on Form IN-111, Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15. ______________________________
loss
This can be a negative number .
Schedule IN-112
5432
Page 1 of 2
Rev. 10/19
Taxpayer’s Last Name
Social Security Number
*1911212WW*
* 1 9 1 1 2 1 2 W W *
PART II
REFUNDABLE CREDITS
Line 1 is for FULL-YEAR residents
.00
Low Income Child & Dependent Care Credit
1.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. _________________
If your federal Adjusted Gross Income is $30,000 (or $40,000 for Married Filing Jointly) or less, and
child care services are provided by a Vermont accredited daycare provider, enter 50% of federal
Form 2441, Line 11. If you are not a Vermont resident or your daycare provider is not accredited, use
Schedule IN-119, Part I, Line 8. See instructions if your providers are both accredited and not accredited.
VERMONT EARNED INCOME TAX CREDIT
For FULL-YEAR residents and PART-YEAR residents
ELIGIBILITY QUESTIONS MUST BE ANSWERED
A.
Enter number of qualifying children . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A. ______________
B.
Enter number of qualifying children under the age of 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B. ______________
Yes
No
C.
Were you (or your spouse if filing a joint return) at least age 25 but under age 65 at the end of 2019? . . . . . . . . . . . . . . . . C.
If you answered “No” and do not have any qualifying children, you do not qualify for Earned Income Tax Credit
FULL-YEAR RESIDENTS
Answer eligibility questions above and complete Lines 2 and 3
.00
2.
Earned income tax credit (Reported from federal Form 1040) . . . . . . . . . . . . . . . . . . .2. _________________
.00
3.
Vermont Earned Income Tax Credit (Multiply Line 2 by 36%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3. ______________
PART YEAR RESIDENTS
Answer eligibility questions above
B. Vermont Portion $
and complete Lines 4 through 10
For Vermont Portion, enter income earned
A. Federal Amount $
while a Vermont resident as shown on
Enter figures in Column A from your federal
Schedule IN-113, Column B, Lines 1, 8,
EITC worksheet and Schedule IN-113
10, and 11
4.
Wages, salaries, tips, etc .
.00
.00
(Schedule IN-113, Line 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4A. ______________
4B. ______________
5.
Other earned income
Check to
Check to
.00
.00
ç indicate
ç indicate
5A. ______________
5B. ______________
(Schedule IN-113, Lines 8, 10, and 11) . . . . . . .
loss
loss
.00
.00
6.
Total earned income (Add Lines 4 and 5) . . . . . . . . . . . . . . . . .6A. ______________
6B. ______________
%
7.
Earned income tax credit adjustment (Divide Line 6B by Line 6A and enter here, but not more than 100%) . . . . . . . .7
. _________ ._______
8.
Earned income tax credit
.00
(Reported on federal Form 1040) . . . . . . . . . . . . . . . . . . . . . . . . 8. ______________
.00
9.
Multiply Line 8 by 36% and enter the result here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9. ______________
.00
10.
Vermont Earned Income Tax Credit (Multiply Line 9 by Line 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10. ______________
11.
TOTAL REFUNDABLE CREDITS
.00
(Add Line 1 to Line 3 or Line 10 . Enter this amount on the IN-111, Line 25c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11. ______________
Schedule IN-112
5432
Page 2 of 2
Rev. 10/19
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