Schedule Fi-162 - Attach To Form Fi-161 - Vermont Capital Gains Exclusion Calculation For Estates Or Trusts - 2013 Page 4

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Schedule FI-162, page 2 of 2
Name of Estate or Trust
Employer Identification Number
PART II Percentage Exclusion
(
Use this section only if you have eligible gains - See Technical Bulletin 60 for more information or continue on to Part III)
10. Enter the amount from Part I, Line 4 . . . . . . . . . . . . . . . . . . . .10.________________________________
11. Enter amount of adjusted net capital gain from the sale
of assets held for three years or less. . . . . . . . . . . . . . . . . . . . .11.________________________________
12. Assets held for more than three years. Subtract Line 11
from Line 10. Entry cannot be less than zero. . . . . . . . . . . . .12.________________________________
Enter the amount of net adjusted capital gain from the sale of the following assets held for more than three years
13a. Real estate or portion of real estate used as a
primary or nonprimary home . . . . . . . . . . . . . . . . . . . .13a.________________________________
13b. Depreciable personal property (except for
farm property or standing timber) . . . . . . . . . . . . . . . 13b.________________________________
13c. Stocks or bonds publicly traded or traded on an
exchange or any other financial instruments. . . . . . . . .13c.________________________________
14. Add Lines 13a through 13c . . . . . . . . . . . . . . . . . . . . . . . . . . .14.________________________________
15. Subtract Line 14 from Line 12; enter result here. Entry
cannot be less than zero. This is the amount of net adjusted
capital gain eligible for exclusion. . . . . . . . . . . . . . . . . . . . . . .15.________________________________
Line 16 Federal Form 4952 information. If no investment interest expense for ineligible assets reported on Federal Form 4952, enter Line 7 from
Part I of this form. Otherwise, you may need to recompute Federal Form 4952 to reflect only investment interest income for assets eligible for the
capital gain exclusion.
16. Enter amount from Part I, Line 7 or recomputed
Federal Form 4952. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16.________________________________
17. Subtract Line 16 from Line 15. Entry cannot be less than zero . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. _______________________________
18. Multiply Line 17 by 40%; enter result here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18. _______________________________
PART III Capital Gain Exclusion
19. Enter the greater of Line 9 or Line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. _______________________________
20. Multiply ______________________________ x 40%; enter result here . . . . . . . . . . . . . . . . . . . . . . . . 20. _______________________________
Federal Taxable Income from Form FI-161, Line 1
21. Enter the smaller of Line 19 or Line 20. This is the capital gain exclusion.
Enter on Form FI-161, Line 4b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21. _______________________________
Schedule FI-162
Rev. 10/13

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