Form Fi-161 - Fiduciary Return Of Income - 2007 Page 2
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3SCHEDULE A. TAXABLE MUNICIPAL BOND INCOME
16. Total interest and dividend income from all state and local obligations exempt from
Federal tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. $
17. Interest and dividend income from VT state and local obligations included
in Line 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.
18. INCOME FROM NON-VT STATE AND LOCAL OBLIGATIONS TO BE ADDED TO
VT TAXABLE INCOME. (Subtract Line 17 from Line 16, but not less than zero.)
Enter here and on Line 2. (If municipal bond income was distributed, it is not
taxable on this return.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.
SCHEDULE B. TAX COMPUTATION
If using Federal Form 1041, complete Lines 19 - 23; if using Federal Form 1120-SF, complete Lines 24 & 25.
19. VT tax from tax rate schedule (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
20. Additions to VT tax
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
20a. Tax on lump-sum distributions (from Federal Form 1041,
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
Schedule G, Line 1b) . . . . . . . . . . . . . . . . . . . . . . . . 20a. _________________
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
20b. Recapture of Federal investment credit . . . . . . . . . . . . 20b. _________________
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
20c. Total additions (add Lines 20a and 20b; then, multiply by 24%) . . . . . . . . . . . 20c.
21. Add Lines 19 and 20c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
22. Subtractions from VT tax
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
22a. Investment tax credit . . . . . . . . . . . . . . . . . . . . . . . . . 22a. _________________
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
22b. Total subtractions (Multiply Line 22a by 24%) . . . . . . . . . . . . . . . . . . . . . . . . . 22b.
23. Total tax. Subtract Line 22b from Line 21. Enter here and on Line 6. . . . . . . . . . . . 23.
OR
24. If filing for Qualified Settlement Fund, enter amount from
Federal Form 1120-SF, Line 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.
25. Multiply amount on Line 24 by 9.5%. Enter here and on Line 6 . . . . . . . . . . . . . . . . 25.
SCHEDULE C. INCOME ADJUSTMENT
26. Total Income (from Schedule E, Line 45, Column A) . . . . . . . . . . . . . . . . . . . . . . . . . 26.
27. Non-VT income of nonresident or part-year resident estate or trust
(from Schedule E, Line 46) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.
28. VT income (subtract Line 27 from Line 26) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.
29. Adjustment percentage. Divide Line 28 by Line 26. Enter here and on Line 7 . . . . 29.
%
Rev. 1/08
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