Vermont Department of Taxes 

         2023 Schedule FIT-166                                                                                      *231661100*

     Vermont Income Adjustments and                                                                                 *231661100*
                                                                                                                                                                                        Page 3
      Tax Computations for Fiduciaries                                                                                          Attach to Form FIT-161

                             Name of Estate or Trust                                                                          FEIN                          Tax Year End Date (MMDDYYYY)
                                                                                                                                                            /        //        /

PART I        Taxable Municipal Bond Income

 1.  Total interest and dividend income from all state and local obligations exempt from 
     federal tax (See Line-by-Line Instructions)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1..   ______________________.00

  2. Interest and dividend income from Vermont state and local obligations included in Line 1  . . . . . . . . . . . . . 2..   ______________________                             .00
  3. Income from non-Vermont state and local obligations to be added to Vermont taxable income . 
     (Subtract Line 2 from Line 1, but not less than zero .)  Enter here and on Form FIT-161, Line 2a  . . . . . . . . 3..   ______________________                               .00

 4.  If all municipal bond income was distributed, check here so that it does not get added back on Form FIT-161, Line 2a .

                                                                                                                                                                                        FORM  (Place at FIRST page)
PART II       ADDITIONS AND SUBTRACTIONS TO TAX                                                                                                                                         Form pages 
1.   Additions to Vermont Tax
     1a. Tax on lump-sum distributions  
         (from federal Forms 4972 and 5329)  . . . . . . . . . . . . . . . . . . . . .  .1a.  ______________________ .00
     1b. Recapture of federal investment credit 
         (from federal Form 4255)   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b.  ______________________ .00                                                           3 - 4
 1c. Total additions (Add Lines 1a and 1b; then, multiply by 24%) .   
     Enter here and on Form FIT-161, Line 7  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  .1c.  ______________________ .00

2    Subtractions from Vermont tax
     2a. Investment tax credit - Vermont-based only 
         (from federal Form 3468)   . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  .2a.  ______________________ .00

     2b. Multiply Line 2a by 24%  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2b.  ______________________ .00

     2c. Research & Development Credit, 32 V .S .A . § 5930d  . . . . . . . .  .                2c.  ______________________ .00

     2d. Charitable Housing Credit, 32 V .S .A § 5830c  . . . . . . . . . . . . . .           2d.  ______________________ .00
 2e. Total subtractions from Vermont tax (Add Lines 2b, 2c, and 2d) 
     Enter here and on Form FIT-161, Line 8  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  .2e.  ______________________ .00

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                                                                                                                                                            Schedule FIT-166
                                                                                                                                                            Page 1 of 2
               5454                                                                                                                                         Rev. 10/23

                                                                                                                       *231661200*
                                                                                                                       *231661200*
                                                                                                                                                                                          Page 4
                            Name of Estate or Trust                                                                        FEIN                               Tax Year End Date (MMDDYYYY)
                                                                                                                                                                  /        /

PART III INCOME ADJUSTMENT CALCULATION 
         Nonresidents and Part-Year Residents must complete this section.

                            Dates of Vermont residency in 2023                                                             Name of State(s), Canadian province, or 
  From                                    To                                                                               country during non-Vermont residency 
  (MMDDYYYY):      /        /             (MMDDYYYY):                                  /        /                          (use standard 2-letter abbreviation)

                                                                                       A.                                                                         B.
                                                                                       Federal Amount $                                                       Vermont Portion $

  1. Interest income  . . . . . . . . . . . . . .  .  .  .  .  .  .  .  .  .  .  .  . 1A.  __________________________ .00       1B. __________________________.00
  2. Total ordinary dividends  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2A.  __________________________ .00      2B. __________________________.00                         FORM  (Place at LAST page)
                                                                                                                                                                                          Form pages 
  3. Business income (or loss)  . . . . . . . . . . . . . . . . .  . 3A.  __________________________ .00                        3B. __________________________.00

  4. Capital gain (or loss)  . . . . . . . . . . . . . . . . . . . . .  . 4A.  __________________________ .00                   4B. __________________________.00
  5. Rents, royalties, partnerships, 
     S Corporations, LLCs,                                                                                                                                                                3 - 4
     other estates and trusts, etc .   . . . . . . . . . . . . . . .  . 5A.  __________________________ .00                     5B. __________________________.00

  6. Farm income (or loss)  . . . . . . . . . . . . . . . . . . . .  . 6A.  __________________________ .00                      6B. __________________________.00

  7. Ordinary gain (or loss)  . . . . . . . . . . . . . . . . . . .  . 7A.  __________________________ .00                      7B. __________________________.00
  8. Other income (Specify type of income)
     ________________________   . . . . . . . . . . . . .  . 8A.  __________________________ .00                                8B. __________________________.00
  9. Total income  
     (Add Lines 1 through 8)  . . . . . . . . . . . . . . . . . .  . 9A.  __________________________ .00                        9B. __________________________.00
 10. Adjustment percentage .  Divide Line 9B by Line 9A .  Express as a percentage, with two digits to the  
     right of the decimal .  Enter here and on Form FIT-161, Line 10 .   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  .  .  .  .  .  .  .  .10.  _________ .__________%

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                                                                                                                                                              Schedule FIT-166
                                                                                                                                                                  Page 2 of 2
         5454                                                                                                                                                     Rev. 10/23