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Vermont Capital Gain Exclusion Calculation
Extracted from PDF file 2023-vermont-schedule-in-153.pdf, last modified October 2022Capital Gain Exclusion Calculation
Vermont Department of Taxes *231531100* 2023 Schedule IN-153 * 2 3 1 5 3 1 1 0 0 * Vermont Capital Gains Exclusion Calculation INCLUDE WITH FORM IN-111 Please PRINT in BLUE or BLACK INK Taxpayer’s Last Name PART I. First Name MI Taxpayer’s Social Security Number FLAT EXCLUSION 1. Enter smaller of Line 15 or 16 from federal Form 1040, Schedule D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. _________________________ .00 2. Enter amount from: 2a. Federal Form 1040, Schedule D, Line 18. . . . . . . . . . . 2a. __________________________ .00 2b. Federal Form 1040, Schedule D, Line 19.. . . . . . . . . . 2b. __________________________ .00 3. Add Lines 2a and 2b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. _________________________ .00 4. Subtract Line 3 from Line 1.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. _________________________ .00 If you filed federal Form 4952, complete Lines 5 through 7 5. Enter amount from: 5a. Federal Form 4952, Line 4g. . . . . . . . . . . . . . . . . . . . . 5a. __________________________ .00 5b. Federal Form 4952, Line 4e. . . . . . . . . . . . . . . . . . . . . 5b. __________________________ .00 5c. Multiply Line 5a by Line 5b and enter result here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5c. _________________________ .00 5d. Federal Form 4952, Line 4b. . . . . . . . . . . . . . . . . . . . . 5d. __________________________ .00 5e. Federal Form 4952, Line 4e. . . . . . . . . . . . . . . . . . . . . 5e. __________________________ .00 6. Add Lines 5d and 5e; enter result here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. _________________________ .00 7. Divide Line 5c by Line 6; enter result here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. _________________________ .00 8. Subtract Line 7 from Line 4. Entry cannot be less than zero. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. _________________________ .00 9. Enter the smaller of Line 8 or $5,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. _________________________ .00 5454 Schedule IN-153 Page 1 of 2 Rev. 10/23 Taxpayer’s Last Name Social Security Number *231531200* * 2 3 1 5 3 1 2 0 0 * PART II. PERCENTAGE EXCLUSION (Use this section only if you have eligible gains. See Technical Bulletin 60, Taxation of Gain on the Sale of Capital Assets, for more information or continue on to Part III.) 10. Enter the amount from Part I, Line 4 . . . . . . . . . . . . . . . . . . . . . . 10. __________________________ .00 11. Enter amount of adjusted net capital gain from the sale of assets held for three years or less. . . . . . . . . . . . . . . . . . . . . . . . . 11. __________________________ .00 12. Assets held for more than three years. Subtract Line 11 from Line 10. Entry cannot be less than zero. . . . . . . . . . . . . . . . . . . . 12. __________________________ .00 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. __________________________ .00 13b. Depreciable personal property (except for farm property or standing timber). . . . . . . . . . 13b. __________________________ .00 13c. Stocks or bonds publicly traded or traded on an exchange or any other financial instruments. . . . . . . . . . . 13c. __________________________ .00 14. Add Lines 13a through 13c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. __________________________ .00 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. __________________________ .00 Line 16 Federal Form 4952 information. If no investment interest expense for ineligible assets was reported on federal Form 4952, enter Line 7 from Part I of this form. Otherwise, you may need to recompute Form 4952 to reflect only investment interest income for assets eligible for the capital gains exclusion. 16. Enter amount from Part I, Line 7 or recomputed federal Form 4952. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. __________________________ .00 17. Subtract Line 16 from Line 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. _________________________ .00 18. Multiply Line 17 by 40%; enter result or $350,000, whichever is less. . . . . . . . . . . . . . . . . . . . . . . . . . . . 18. _________________________ .00 PART III. CAPITAL GAINS EXCLUSION 19. Enter the greater of Line 9 or Line 18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. _________________________ .00 20. Multiply _________________________ x 40% and enter result here. . . . . . . . . . . . . . . . . . . . . . . . . . . . 20. _________________________ .00 Federal Taxable Income 21. Enter the smaller of Line 19 or Line 20. This is your capital gains exclusion. Enter on Schedule IN-112, Part I, Line 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21. _________________________ .00 Schedule IN-153 Page 2 of 2 Rev. 10/23 5454 Clear ALL fields Save and go to Important Printing Instructions Save and Print
Schedule IN-153
More about the Vermont Schedule IN-153 Individual Income Tax TY 2023
We last updated the Capital Gain Exclusion Calculation in February 2024, so this is the latest version of Schedule IN-153, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule IN-153 directly from TaxFormFinder. You can print other Vermont tax forms here.
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TaxFormFinder has an additional 51 Vermont income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Vermont Schedule IN-153.
| Form Code | Form Name |
|---|---|
| Schedule IN-113 | Income Adjustment Calculations |
| Schedule IN-119 | VT Economic Incentive Income Tax Credits |
| Schedule IN-112 | VT Tax Adjustments and Credits |
| Schedule IN-155 | Federal Itemized Deductions Addback (OBSOLETE) |
View all 52 Vermont Income Tax Forms
Form Sources:
Vermont usually releases forms for the current tax year between January and April. We last updated Vermont Schedule IN-153 from the Department of Taxes in February 2024.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Vermont Schedule IN-153
We have a total of twelve past-year versions of Schedule IN-153 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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