Vermont Department of Taxes 

           2023 Schedule FIT-162                                                                                                *231621100*

     Capital Gains Exclusion Calculation                                                                                        *231621100*
                                                                                                                                                                                                                                                                          Page 3
               for Estates or Trusts
                                                                                                                                        Attach to Form FIT-161

                              Name of Estate or Trust                                                                                     FEIN                                 Tax Year End Date (MMDDYYYY)
  123456789012345678901234567890123456     123456789         MM /       DD /                                                                                                                   YYYY  

PART I  Flat Exclusion

                                                            123456789012  1. Enter lesser of Line 18a(2) or 19(2) from federal Form 1041, Schedule D  . . . . . . . . . . . . . . . . . . . . . . . . . . 1..   ______________________                                .00

  2.  Enter amount from:
                                         123456789012   2a. Federal Form 1041, Schedule D, Line 18b(2)   . . . . . . . . . . . . 2a..  ______________________.00

                                         123456789012   2b.  Federal Form 1041, Schedule D, Line 18c(2)  . . . . . . . . . . . . . 2b.  ______________________.00

                                                            123456789012  3. Add Lines 2a and 2b  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3..   ______________________.00
                                                                                                                                                                                                                                                                          FORM  (Place at FIRST page)
  4.                                                            123456789012Subtract Line 3 from Line 1 . Entry cannot be less than zero.    . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4..   ______________________                         .00 Form pages 

If you filed federal Form 4952, complete Lines 5 through 7
  5.  Enter amount from:
                                         123456789012   5a. Federal Form 4952, Line 4g  . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5a..  ______________________.00
                                                                                                                                                                                                                                                                          3 - 4
                                         123456789012   5b. Federal Form 4952, Line 4e  . . . . . . . . . . . . . . . . . . . . . . . . . . . .5b.  ______________________.00

                                                            123456789012 5c. Multiply Line 5a by Line 5b .  Enter result here .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5c..  .  ______________________.00

                                         1234567890125d. Federal Form 4952, Line 4b  . . . . . . . . . . . . . . . . . . . . . . . . . . . .5d.  ______________________.00

                                         123456789012   5e Federal Form 4952, Line 4e  . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5e..  ______________________.00

                                                            123456789012  6. Add Lines 5d and 5e .  Enter result here .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6..  .   ______________________.00

                                                            123456789012  7. Divide Line 5c by Line 6 .  Enter result here  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7..   ______________________.00

                                                            123456789012  8. Subtract Line 7 from Line 4 . Entry cannot be less than zero.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8..   ______________________                        .00

                                                            123456789012  9. Enter the lesser of Line 8 or $5,000  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9..   ______________________       .00

                                                                            (continued on next page)

                                                                                                                                                                               Schedule FIT-162
                                                                                                                                                                               Page 1 of 2
               5454                                                                                                                                                            Rev. 10/23

                                                                                                                         *231621200*
                                                                                                                         *231621200*
                                                                                                                                                                                                                                                                Page 4
                                 Name of Estate or Trust                                                                           FEIN                                              Tax Year End Date (MMDDYYYY)
  123456789012345678901234567890123456     123456789         MM /       DD /                                                                                                                         YYYY  

PART II      Percentage Exclusion 
             (Use this section only if you have eligible gains .  See Technical Bulletin TB-60, Taxation of Gain on the Sale of Capital Assets, for 
             more information, or continue on to Part III)

                                         123456789012 10. Enter the amount from Part I, Line 4   . . . . . . . . . . . . . . . . . . . . . . . . 10..  ______________________.00
 11.   Enter amount of adjusted net capital gain from  
                                         123456789012the sale of assets held for three years or less  . . . . . . . . . . . . . . . . . . . 11..  ______________________.00
 12.   Assets held for more than three years .  Subtract Line 11 
                                         123456789012from 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 
                                         123456789012primary or nonprimary home   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13a..  ______________________.00                                                                                    FORM  (Place atLAST page)
  13b.  Depreciable personal property (except for                                                                                                                                                                                                               Form pages 
                                         123456789012farm property or standing timber)  . . . . . . . . . . . . . . . . . . . . . . . . . .13b.  ______________________.00
  13c.  Stocks or bonds publicly traded or traded on an 
                                         123456789012exchange or any other financial instruments  . . . . . . . . . . . . . . . . . . 13c..  ______________________.00

                                         123456789012 14. Add Lines 13a through 13c  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14..  ______________________.00                                                                            3 - 4
 15.   Subtract Line 14 from Line 12 .  Enter result here . 
       Entry cannot be less than zero.  This is the amount 
                                         123456789012of net capital gain eligible for exclusion .  . . . . . . . . . . . . . . . . . . . . . 15..  ______________________.00
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 
                                         123456789012federal Form 4952 .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16..  ______________________.00

                                                            123456789012 17. Subtract Line 16 from Line 15 . Entry cannot be less than zero.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17..  ______________________.00

                                                            123456789012 18. Multiply Line 17 by 40%; enter result or $350,000, whichever is less .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18..  ______________________.00
PART III     Capital Gain Exclusion
                                                            123456789012 19. Enter the greater of Line 9 or Line 18  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19..  ______________________.00

              20. Multiply ____________________________________123456789012.00                               x 40% .  Enter result here  . . . . . . . . . . . . . . . . . . . . 20..  ______________________123456789012            .00 
                      Federal Taxable Income from Form FIT-161, Line 1
 21.   Enter the lesser of Line 19 or Line 20 .  This is the capital gain exclusion . 
                                                            123456789012Enter on Form FIT-161, Line 4b .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21..  ______________________.00

                                                                                                                                                                                     Schedule FIT-162
                                                                                                                                                                                     Page 2 of 2
                 5454                                                                                                                                                                Rev. 10/23