Schedule IN-153 Vermont Capital Gain Exclusion Calculation - Vermont

What Is Schedule IN-153?

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.

FAQ

Q: What is Schedule IN-153?
A: Schedule IN-153 is a form used to calculate the Vermont Capital Gain Exclusion.

Q: What is the Vermont Capital Gain Exclusion?
A: The Vermont Capital Gain Exclusion is a deduction that allows individuals to exclude a portion of their capital gains from state income tax in Vermont.

Q: How do I calculate the Vermont Capital Gain Exclusion?
A: You can calculate the Vermont Capital Gain Exclusion by completing Schedule IN-153, which requires information about your capital gains and qualifying investments.

Q: Who is eligible for the Vermont Capital Gain Exclusion?
A: Individuals who have qualifying investments and meet the requirements set by the Vermont Department of Taxes may be eligible for the Vermont Capital Gain Exclusion.

Q: What are qualifying investments?
A: Qualifying investments include stock in Vermont-based companies, certain real estate investments, and investments in Vermont venture capital funds.

Q: Are there any limitations to the Vermont Capital Gain Exclusion?
A: Yes, there are limitations to the Vermont Capital Gain Exclusion, including a maximum amount that can be excluded and specific time frames for holding qualifying investments.

Q: What should I do if I have questions about Schedule IN-153 or the Vermont Capital Gain Exclusion?
A: If you have questions about Schedule IN-153 or the Vermont Capital Gain Exclusion, you should contact the Vermont Department of Taxes for assistance.