Vermont Income Tax Return
| ✓ | Task |
|---|---|
| Complete federal income tax return | |
| Complete VT Form IN-111 | |
| Find your school district code |
Vermont Income Tax Return with Earned Income Tax Credit
| ✓ | Task |
|---|---|
| Full-Time Resident | |
| Complete federal income tax return and federal earned income tax schedule and/or worksheet | |
| Complete VT Schedule IN-112 (VERMONT EARNED INCOME TAX CREDIT Section) | |
| Complete VT Form IN-111 | |
| Part-Year Resident | |
| Complete federal income tax return | |
| See “VT Income Tax Return” for any items that apply | |
| Complete VT Schedule IN-113 before VT Schedule IN-112 (VERMONT EARNED INCOME TAX CREDIT Section) | |
| Complete VT Schedule IN-112 (VERMONT EARNED INCOME TAX CREDIT Section) | |
| 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
| ✓ | Task |
|---|---|
| Complete federal income tax return | |
| If federal Taxable Income is zero, calculate the loss amount by subtracting Form 1040 Line 8 from Line 7 | |
| Complete VT Schedule IN-112 (Part I for non-VT state & local obligations) | |
| Complete your worksheet to determine the difference between bonus depreciation and depreciation on regular MACRS schedule. The difference is the entry. | |
| Complete addback state & local income taxes | |
| Complete VT Form IN-111 |
Vermont Income Tax Return with Interest Income from U.S. Obligations, Capital Gain Exclusion and/or Bonus Depreciation
| ✓ | Task |
|---|---|
| Complete federal income tax return | |
| If federal taxable income is zero, calculate the loss amount by subtracting Form 1040 Line 8 from Line 7 | |
| Complete IN-153 for Capital Gain Exclusion | |
| Complete IN-112 (Part I) including interest income from U.S. Obligations | |
| 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 | |
| Complete VT Form IN-111 |
Vermont Income Tax Return with Additions to VT Income Tax
| ✓ | Task |
|---|---|
| Complete federal income tax return | |
| Complete VT Form IN-111 up to Line 1 | |
| Complete VT Schedule IN-112 (Part I) | |
| Complete VT Form IN-111 |
Vermont Income Tax Return with Subtractions from VT Income Tax
| ✓ | Task |
|---|---|
| Complete federal income tax return | |
| Complete VT Form IN-111 up to Line 1 | |
| Complete VT Schedule IN-112 (Part I) | |
| Complete VT Form IN-111 |
Vermont Income Tax Return with Adjustment to Vermont Income Tax
| ✓ | Task |
|---|---|
| Complete federal income tax return | |
| Complete VT Form IN-111 up to Line 15 | |
| Complete VT Schedule IN-113 | |
| Part I is for non-residents and some part-year residents | |
| Part II is for reporting VT Exempt Income | |
| Complete VT Form IN-111 |
Vermont Income Tax Return with Credit for Income Tax Paid in Another State or Canadian Province
| ✓ | Task |
|---|---|
| Complete federal income tax return | |
| Complete tax return(s) for other state or province | |
| Complete IN-112 (Part I) | |
| Complete VT Form IN-111 up to Line 17 | |
| Complete VT Schedule IN-117 | |
| VT Schedule IN-117 result on VT Form IN-111, Line 17 | |
| Complete VT Form IN-111 |
Vermont Income Tax Return
| ✓ | Task |
|---|---|
| Complete federal income tax return | |
| Complete VT Form IN-111 | |
| Find your school district code |
Vermont Income Tax Return with Vermont Tax Credits
| ✓ | Task |
|---|---|
| Complete federal income tax return | |
| Complete VT Form IN-111 up to Line 25c | |
| Complete VT Schedule IN-112 (Part II) | |
| Complete VT Schedule IN-119 (if required) | |
| If only tax credits from VT Schedule IN-112, enter amount on VT Form IN-111 Line 25c | |
| If tax credits require VT Schedule IN-119, transfer VT Schedule IN-112 information to VT Schedule IN-119 | |
| Enter VT Schedule IN-119 result on VT Form IN-111, Line 18 | |
| VT Form IN-111 |
Homestead Declaration
| ✓ | Task |
|---|---|
| You must file a Homestead Declaration annually by the April filing deadline | |
| Obtain SPAN from property tax bill | |
| Complete VT Form HS-122 (Section A) | |
| File by the April filing deadline, or may be filed at the time of closing on a new homestead | |
Property Tax Credit
| ✓ | Task |
|---|---|
| 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. | |
| Obtain information from property tax bill | |
| Complete federal income tax return (if required to file) | |
| Complete VT Schedule HI-144, Household Income | |
| Complete all sections of VT Form HS-122 | |
| File by the April filing deadline | |
Renter Credit
| ✓ | Task |
|---|---|
| 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. | |
| Obtain completed landlord certificate(s) (Form LRC-140) | |
| Complete federal income tax return (if required to file) | |
| Complete VT Schedule HI-144, Household Income | |
| Complete RCC-146 | |
| File by the April filing deadline | |