Instructions for Form IN-111 Schedule IN-153 Vermont Capital Gain Exclusion Calculation - Vermont

This document contains official instructions for Form IN-111 Schedule IN-153, Vermont Capital Gain Exclusion Calculation - a form released and collected by the Vermont Department of Taxes.

FAQ

Q: What is Form IN-111?A: Form IN-111 is a tax form used in Vermont to calculate income tax.

Q: What is Schedule IN-153?A: Schedule IN-153 is a specific schedule within Form IN-111 used to calculate the Vermont Capital Gain Exclusion.

Q: What is the Vermont Capital Gain Exclusion?A: The Vermont Capital Gain Exclusion is a tax benefit that allows Vermont residents to exclude a portion of their capital gains from their taxable income.

Q: How do I calculate the Vermont Capital Gain Exclusion?A: You can calculate the Vermont Capital Gain Exclusion using Schedule IN-153 on Form IN-111. The schedule provides instructions and worksheets to help you determine the amount of the exclusion.

Q: Who is eligible for the Vermont Capital Gain Exclusion?A: Vermont residents who meet certain criteria are eligible for the Capital Gain Exclusion. Please refer to the instructions on Form IN-111 for more details.

Q: Are there any other requirements or forms related to the Vermont Capital Gain Exclusion?A: To claim the Vermont Capital Gain Exclusion, you may need to provide additional documentation or complete other forms. Please review the instructions on Form IN-111 for the complete requirements.