Vt Schedule Fit-162 - Capital Gains Exclusion Calculation For Estates Or Trusts

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Vermont Department of Taxes

PO Box 1700 Montpelier, VT 05601-1700

*171621100*

Phone: (802) 828-6820

CAPITAL GAINS EXCLUSION

VT Schedule

* 1 7 1 6 2 1 1 0 0 *

FIT-162

CALCULATION FOR ESTATES OR TRUSTS

Attach to Form FIT-161

PRINT in BLUE or BLACK INK

Name of Estate or Trust

Federal ID Number

Tax Year END Date (MMDDYYYY)

PART I

Flat Exclusion

. _____

1. Enter smaller of Line 18a(2) or 19(2) from Federal Form 1041, Schedule D. . . . . . . . . . . . . . . . . . . . . . . .1.______________________

2. Enter amount from:

. _____

2a. Federal Form 1041, Schedule D, Line 18b(2) . . . . . . .2a._________________________

. _____

2b. Federal Form 1041, Schedule D, Line 18c(2) . . . . . . . 2b._________________________

. _____

3. Add Lines 2a and 2b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3.______________________

. _____

4. Subtract Line 3 from Line 1. Entry cannot be less than zero. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4.______________________

If you filed Federal Form 4952, complete Lines 5 through 7

5. Enter amount from:

. _____

5a. Federal Form 4952, Line 4g . . . . . . . . . . . . . . . . . . . . .5a._________________________

. _____

5b. Federal Form 4952, Line 4e . . . . . . . . . . . . . . . . . . . . 5b._________________________

. _____

5c. Multiply Line 5a by Line 5b and enter result here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5c.______________________

. _____

5d. Federal Form 4952, Line 4b . . . . . . . . . . . . . . . . . . . . 5d._________________________

. _____

5e. Federal Form 4952, Line 4e . . . . . . . . . . . . . . . . . . . . .5e._________________________

. _____

6. Add Lines 5d and 5e; enter result here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6.______________________

. _____

7. Divide Line 5c by Line 6; enter result here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7.______________________

. _____

8. Subtract Line 7 from Line 4. Entry cannot be less than zero. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8.______________________

. _____

9. Enter the smaller of Line 8 or $5,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9.______________________

(continued on next page)

Schedule FIT-162

Page 1 of 2

Rev. 10/17

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