Vermont Income Tax Return
Vermont Income Tax Return with Earned Income Tax Credit
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Task |
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Full-Time Resident |
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Complete federal income tax return and federal earned income tax schedule and/or worksheet |
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Complete VT Schedule IN-112 (VERMONT EARNED INCOME TAX CREDIT Section) |
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Complete VT Form IN-111 |
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Part-Year Resident |
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Complete federal income tax return |
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See “VT Income Tax Return” for any items that apply |
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Complete VT Schedule IN-113 before VT Schedule IN-112 (VERMONT EARNED INCOME TAX CREDIT Section) |
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Complete VT Schedule IN-112 (VERMONT EARNED INCOME TAX CREDIT Section) |
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Complete VT Form IN-111 |
Vermont Income Tax Return with Non-VT State & Local Obligations, Bonus Depreciation and/or Add Back State & Local Income Taxes
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Task |
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Complete federal income tax return |
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If federal Taxable Income is zero, calculate the loss amount by subtracting Form 1040 Line 8 from Line 7 |
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Complete VT Schedule IN-112 (Part I for non-VT state & local obligations) |
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Complete your worksheet to determine the difference between bonus depreciation and depreciation on regular MACRS schedule. The difference is the entry. |
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Complete addback state & local income taxes |
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Complete VT Form IN-111 |
Vermont Income Tax Return with Interest Income from U.S. Obligations, Capital Gain Exclusion and/or Bonus Depreciation
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Task |
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Complete federal income tax return |
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If federal taxable income is zero, calculate the loss amount by subtracting Form 1040 Line 8 from Line 7 |
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Complete IN-153 for Capital Gain Exclusion |
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Complete IN-112 (Part I) including interest income from U.S. Obligations |
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Complete your worksheet to determine the difference between federal depreciation on equipment where bonus depreciation taken and depreciation on regular MACRS schedule. The difference is the entry |
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Complete VT Form IN-111 |
Vermont Income Tax Return with Additions to VT Income Tax
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Task |
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Complete federal income tax return |
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Complete VT Form IN-111 up to Line 1 |
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Complete VT Schedule IN-112 (Part I) |
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Complete VT Form IN-111 |
Vermont Income Tax Return with Subtractions from VT Income Tax
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Task |
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Complete federal income tax return |
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Complete VT Form IN-111 up to Line 1 |
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Complete VT Schedule IN-112 (Part I) |
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Complete VT Form IN-111 |
Vermont Income Tax Return with Adjustment to Vermont Income Tax
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Task |
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Complete federal income tax return |
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Complete VT Form IN-111 up to Line 15 |
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Complete VT Schedule IN-113 |
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Part I is for non-residents and some part-year residents |
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Part II is for reporting VT Exempt Income |
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Complete VT Form IN-111 |
Vermont Income Tax Return with Credit for Income Tax Paid in Another State or Canadian Province
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Task |
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Complete federal income tax return |
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Complete tax return(s) for other state or province |
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Complete IN-112 (Part I) |
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Complete VT Form IN-111 up to Line 17 |
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Complete VT Schedule IN-117 |
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VT Schedule IN-117 result on VT Form IN-111, Line 17 |
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Complete VT Form IN-111 |
Vermont Income Tax Return
Vermont Income Tax Return with Vermont Tax Credits
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Task |
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Complete federal income tax return |
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Complete VT Form IN-111 up to Line 25c |
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Complete VT Schedule IN-112 (Part II) |
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Complete VT Schedule IN-119 (if required) |
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If only tax credits from VT Schedule IN-112, enter amount on VT Form IN-111 Line 25c |
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If tax credits require VT Schedule IN-119, transfer VT Schedule IN-112 information to VT Schedule IN-119 |
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Enter VT Schedule IN-119 result on VT Form IN-111, Line 18 |
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VT Form IN-111 |
Homestead Declaration
You must file a Homestead Declaration annually by the April filing deadline
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Task |
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Obtain the School Property Account Number (SPAN) from property tax bill |
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Complete VT Form HS-122 (Section A) |
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File by the April filing deadline, or may be filed at the time of closing on a new homestead |
Property Tax Credit
Claims may be filed up to the October filing deadline. There is a $15 late filing penalty. No claims can be accepted after the October filing deadline.
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Task |
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Obtain information from property tax bill |
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Complete federal income tax return (if required to file) |
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Complete VT Schedule HI-144, Household Income |
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Complete all sections of VT Form HS-122 |
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File by the April filing deadline |
Renter Credit
Claims may be filed up to the October filing deadline. No claims can be accepted after the October filing deadline. The Renter Credit may be used as a credit towards your Vermont income tax. File the Renter Credit Claim, VT Form RCC-146, with the VT income tax return, VT Form IN-111, and enter the credit amount on IN-112 (Part II, Line 2) Line 12 goes on Line 25c on IN-111. The Renter Credit Claim may also be filed separately from the income tax return.
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Task |
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Find your School Property Account Number (SPAN). This number is required to file for rental address on December 31 or the last place rented in filing year. |
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Complete federal income tax return (if required to file) |
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Complete form RCC-146, Vermont Renter Credit Claim |
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File by the April filing deadline |
