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 1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5
          3                                                                                                                                                                                                                                                               3
          4                             Vermont Department of Taxes                                                                                                                                                                                                       4
          5                                                                                                                                                                                                                                                               5
          6                          2023 Schedule FIT-166                                                                                                                           *231661100*                                                                          6
          7                                                                                                                                                                                                                                                               7
                            Vermont Income Adjustments and                                                                                                                           *231661100*
          8                                                                                                                                                                                                                                                               8  Page 3
          9                 Tax Computations for Fiduciaries                                                                                                                                     Attach to Form FIT-161                                                   9
          10                                                                                                                                                                                                                                                              10
          11                                                          Name of Estate or Trust                                                                                                 FEIN                                   Tax Year End Date (MMDDYYYY)         11
          12       123456789012345678901234567890123456      123456789        MM /       /       DD //                                                                                                                                                           YYYY     12
          13                                                                                                                                                                                                                                                              13
          14                                                                                                                                                                                                                                                              14
          15     PART I                 Taxable Municipal Bond Income                                                                                                                                                                                                     15
          16                                                                                                                                                                                                                                                              16
                    1.      Total interest and dividend income from all state and local obligations exempt from 
          17                                                               12345678901234federal tax (See Line-by-Line Instructions)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1..   ______________________.00 17
          18                                                                                                                                                                                                                                                              18
          19       2.                                                          12345678901234Interest and dividend income from Vermont state and local obligations included in Line 1  . . . . . . . . . . . . . 2..   ______________________                         .00 19
          20                                                                                                                                                                                                                                                              20
                   3.       Income from non-Vermont state and local obligations to be added to Vermont taxable income . 
          21                                                               12345678901234(Subtract Line 2 from Line 1, but not less than zero .)  Enter here and on Form FIT-161, Line 2a  . . . . . . . . 3..   ______________________                               .00 21
          22                                                                                                                                                                                                                                                              22
          23                                                                      X4. If all municipal bond income wasdistributed, check here so that it does not get added back on Form FIT-161, Line 2a .                                                               23
          24                                                                                                                                                                                                                                                              24
          25                                                                                                                                                                                                                                                              25 FORM  (Place at FIRST page)
          26     PART II                ADDITIONS AND SUBTRACTIONS TO TAX                                                                                                                                                                                                 26 Form pages 
          27                                                                                                                                                                                                                                                              27
          28     1.         Additions to Vermont Tax                                                                                                                                                                                                                      28
                         1a.      Tax on lump-sum distributions  
          29                                            12345678901234 (from federal Forms 4972 and 5329)  . . . . . . . . . . . . . . . . . . . . . 1a..   ______________________.00                                                                                     29
          30                                                                                                                                                                                                                                                              30
          31                1b.   Recapture of federal investment credit                                                                                                                                                                                                  31
                                                        12345678901234 (from federal Form 4255)   . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1b.  ______________________.00                                                                                    3 - 4
          32                                                                                                                                                                                                                                                              32
                  1c.       Total additions (Add Lines 1a and 1b; then, multiply by 24%) .   
          33                                                               12345678901234Enter here and on Form FIT-161, Line 7  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c..  ______________________.00    33
          34                                                                                                                                                                                                                                                              34
          35     2          Subtractions from Vermont tax                                                                                                                                                                                                                 35
          36                                                                                                                                                                                                                                                              36
          37             2a.      Investment tax credit - Vermont-based only                                                                                                                                                                                              37
                                                        12345678901234 (from federal Form 3468)   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2a..  ______________________.00
          38                                                                                                                                                                                                                                                              38
          39                                             12345678901234  2b. Multiply Line 2a by 24%  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2b.  ______________________.00                                                                           39
          40                                                                                                                                                                                                                                                              40
          41                                            123456789012342c. Research & Development Credit, 32 V .S .A . § 5930d  . . . . . . .2c..  .  ______________________.00                                                                                            41
          42                                                                                                                                                                                                                                                              42
                   
          43                                            123456789012342d. Charitable Housing Credit, 32 V .S .A § 5830c  . . . . . . . . . . . . .2d..      ______________________.00                                                                                     43
          44                                                                                                                                                                                                                                                              44
                  2e.       Total subtractions from Vermont tax (Add Lines 2b, 2c, and 2d) 
          45                                                               12345678901234Enter here and on Form FIT-161, Line 8  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2e..  ______________________.00    45
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          61                                                                                                                                                                                                                         Schedule FIT-166                     61
          62                                                                                                                                                                                                                                     Page 1 of 2              62
          63                               5454                                                                                                                                                                                                     Rev. 10/23            63
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 1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5
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          6                                                                                                                                                                       *231661200*                                                                         6
          7                                                                                                                                                                                                                                                           7
                                                                                                                                                                                  *231661200*
          8                                                                                                                                                                                                                                                           8  Page 4
          9                                                        Name of Estate or Trust                                                                                                 FEIN                                   Tax Year End Date (MMDDYYYY)        9
          10       123456789012345678901234567890123456      123456789        MM /       DD /                                                                                                                                                                 YYYY    10
          11                                                                                                                                                                                                                                                          11
          12                                                                                                                                                                                                                                                          12
          13                                                                                                                                                                                                                                                          13
                 PART III            INCOME ADJUSTMENT CALCULATION 
          14                                                                                                                                                                                                                                                          14
                                     Nonresidents and Part-Year Residents must complete this section.
          15                                                                                                                                                                                                                                                          15
          16                                                             Dates of Vermont residency in 2023                                                                                   Name of State(s), Canadian province, or                                 16
          17                                                                                                                                                                                  country during non-Vermont residency                                    17
                            From                                                                       To
          18                (MMDDYYYY):             MM /       DD /            YYYY          (MMDDYYYY):                               MM /       DD /             YYYY                     (use standard 2-letter abbreviation)                              12      18
          19                                                                                                                                                                                                                                                          19
          20                                                                                                                                  A.                                                                                                 B.                   20
          21                                                                                                                     Federal Amount $                                                                                 Vermont Portion $                   21
          22                                                                                                                                                                                                                                                          22
                       1. 
          23                                   Interest income  . . . . . . . . . . . . . .  .  .  .  .  .  .  .  . 1A. .  . __________________________. 12345678901234             . .00                          1B. __________________________12345678901234 .00   23
          24                                                                                                                                                                                                                                                          24
          25                                    2. Total ordinary dividends  .  .  .  .  .  .  .  .  .  .  .  . 2A. .  .  . __________________________12345678901234             .  .  .  . .00                    2B. __________________________12345678901234 .00   25 FORM  (Place atLAST page)
          26                                                                                                                                                                                                                                                          26 Form pages 
          27                                    3. Business income (or loss)  . . . . . . . . . . . . . . . . . 3A. . __________________________12345678901234             .00                                     3B. __________________________12345678901234 .00   27
          28                                                                                                                                                                                                                                                          28
          29                                    4. Capital gain (or loss)  . . . . . . . . . . . . . . . . . . . . . 4A. . __________________________12345678901234             .00                                4B. __________________________12345678901234 .00   29
          30                                                                                                                                                                                                                                                          30
          31           5.   Rents, royalties, partnerships,                                                                                                                                                                                                           31
                            S Corporations, LLCs,                                                                                                                                                                                                                        3 - 4
          32                                   other estates and trusts, etc .   . . . . . . . . . . . . . . . 5A. .  __________________________12345678901234             .00                                     5B. __________________________12345678901234 .00   32
          33                                                                                                                                                                                                                                                          33
          34                                    6. Farm income (or loss)  . . . . . . . . . . . . . . . . . . . . 6A. . __________________________12345678901234             .00                                   6B. __________________________12345678901234 .00   34
          35                                                                                                                                                                                                                                                          35
          36                                    7. Ordinary gain (or loss)  . . . . . . . . . . . . . . . . . . . 7A. . __________________________12345678901234             .00                                   7B. __________________________12345678901234 .00   36
          37                                                                                                                                                                                                                                                          37
          38           8.   Other income (Specify type of income)                                                                                                                                                                                                     38
          39        123456789012345           ________________________   . . . . . . . . . . . . . 8A. .              __________________________12345678901234             .00                                     8B. __________________________12345678901234 .00   39
          40                                                                                                                                                                                                                                                          40
                  
          41           9.   Total income                                                                                                                                                                                                                              41
                                               (Add Lines 1 through 8)  . . . . . . . . . . . . . . . . . . 9A. .     __________________________12345678901234             .00                                     9B. __________________________12345678901234 .00
          42                                                                                                                                                                                                                                                          42
                  
          43        10.     Adjustment percentage .  Divide Line 9B by Line 9A .  Express as a percentage, with two digits to the                                                                                                                                     43
                                                                                right of the decimal .  Enter here and on Form FIT-161, Line 10 .   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  .  .  .  . 10..  .  _________.  .123 .__________12%
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          61                                                                                                                                                                                                                      Schedule FIT-166                    61
          62                                                                                                                                                                                                                                  Page 2 of 2             62
          63                            5454                                                                                                                                                                                                     Rev. 10/23           63
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