Vt Schedule Fit-162 - Capital Gains Exclusion Calculation For Estates Or Trusts Page 2

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Schedule FIT-162, page 2 of 2

* 1 7 1 6 2 1 2 0 0 *

Name of Estate or Trust

Federal ID Number

Tax Year END Date (MMDDYYYY)

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 FIT-161, Line 1

21. Enter the smaller of Line 19 or Line 20. This is the capital gain exclusion.

Enter on Form FIT-161, Line 4b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21. ______________________. _____

Schedule FIT-162

Page 2 of 2

Rev. 10/17

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