Schedule In-112 - Vt Tax Adjustment And Credit - 2014

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Important Printing Instructions
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*141121100*
VT Tax Adjustments
2014
SCHEDULE
112
IN-
and Credits
VERMONT
* 1 4 1 1 2 1 1 0 0 *
Please PRINT in BLUE or BLACK INK
ATTACH TO FORM IN-111
Taxpayer’s Last Name
First Name
Initial
Taxpayer’s Social Security Number
PART I
ADJUSTMENT TO TAXABLE INCOME
1. Total interest and dividend income from all state and local obligations exempt from federal tax
.0 0
(1040-Line 8b or 1040A-Line 8b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. _____________________________
.0 0
2. Interest and dividend income from VT state and local obligations included in Line 1 . . . . . . . . . . . . . . . . . . . 2. _____________________________
3. INCOME FROM NON-VT STATE AND LOCAL OBLIGATIONS TO BE ADDED TO VT TAXABLE
.0 0
INCOME. Subtract Line 2 from Line 1, but not less than zero . ENTER ON FORM IN-111, LINE 12a . . . . 3. _____________________________
PART II
ADJUSTMENTS TO VT INCOME TAX
ADDITIONS TO VT TAX:
1. Tax on Qualified Plans including IRA (1040-Line 59 or
.0 0
Form 5329), HSA (Form 8889) and MSA (Form 8853) . . . . . . . . .1.______________________________
2. Recapture of Federal Investment Tax Credit
.0 0
(From Federal Form 4255) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2.______________________________
.0 0
3. Tax from Federal Form 4972-Line 7 or 30 . . . . . . . . . . . . . . . . . . .3.______________________________
.0 0
4. Add Lines 1 through 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4.______________________________
.0 0
5. Multiply Line 4 by 24% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5.______________________________
.0 0
6. Recapture of VT Credits (See instructions) . . . . . . . . . . . . . . . . . . .6.______________________________
.0 0
7. Add Lines 5 and 6 . Enter on Form IN-111, Line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7. ______________________________
SUBTRACTIONS FROM VT TAX:
8. Credit for Child & Dependent Care Expenses
.0 0
(1040-Line 49; 1040A-Line 31) . . . . . . . . . . . . . . . . . . . . . . . . . . . .8.______________________________
.0 0
9. Credit for the Elderly or the Disabled (Federal Schedule R) . . . . . .9.______________________________
10. Investment Tax Credit - VT-based only
.0 0
(From Federal Form 3468) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10.______________________________
11. VT Farm Income Averaging Credit
.0 0
(From worksheet on page 12 of income tax booklet) . . . . . . . . . . .11.______________________________
.0 0
12. Add Lines 8 through 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12.______________________________
.0 0
13. Multiply Line 12 by 24% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13.______________________________
.0 0
14. VT-based Business Solar Energy Credit carryforward . . . . . . . . .14.______________________________
.0 0
15. Add Lines 13 and 14 . Enter on Form IN-111, Line 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15. ______________________________
5454
19
Schedule IN-112

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