1                                                                                                                                                                                                                                                                                                         1
 0  0  0  0 20  0  0  0  0  1  1  1  1  1  1  1  1  1  1  2  2  2  2  2  2  2  2  2  2  3  3  3  3  3  3  3  3  3  3  4  4  4  4  4  4  4  4  4  4  5  5  5  5  5  5  5  5  5  5  6  6  6  6  6  6  6  6  6  6  7  7  7  7  7  7  7  7  7  8  8  8  8  8  8  8                                                      2
 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 IN-112                                                                                                                         *231121100*                                                                                                                       6
          7                                                                                                                             Please PRINT in                           * 23 1121100*                                                                                                                     7
                       Vermont Tax Adjustments and Credits                                                                           BLUE or BLACK INK
          8                                                                                                                                                                                      INCLUDE WITH FORM IN-111                                                                                           8  Page 23
          9                                                                                                                                                                                                                                                                                                         9
          10                         Taxpayer’s Last Name                                                                            First Name                                   MI                            Taxpayer’s Social Security Number                                                                   10
          11                                                                                                                                                                                                                                                                                                        11
                   1234567890123(17)       1234567890123(17)    1   123456789       
          12                                                                                                                                                                                                                                                                                                        12
          13                                                                                                                                                                                                                                                                                                        13
          14     PART I                                                                                                                                                                                                                                                                                             14
          15     ADDITIONS TO FEDERAL ADJUSTED GROSS INCOME                                                                                                                                                                                                                                                         15 FORM  (Place at FIRST page)
          16        1.  Total interest and dividend income from all state and local                                                                                                                                                                                                                                 16 Form pages 
          17                obligations exempt from federal tax                                                                                                                                                                                                                                                     17
                                                      123456789012345(reported on federal Form 1040)  . . . . . . . . . . . . . . . . . . . . . . . . . . 1. ._________________________.00
          18                                                                                                                                                                                                                                                                                                        18
          19        2.  Interest and dividend income from Vermont state and local                                                                                                                                                                                                                                   19
                                                      123456789012345obligations included in Line 1  . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. ._________________________.00
          20                                                                                                                                                                                                                                                                                                        20
          21                                                                                                                                                                                                                                                                                                        21
                                                                           1234567890123453.  Income from Non-Vermont State and Local Obligations (SUBTRACT Line 2 from Line 1)   . . . . . . . .3.   _________________________.00                                                                                     23 - 24
          22                                                                                                                                                                                                                                                                                                        22
          23                                                                                                                                                                                                                                                                                                        23
                                                      123456789012345 4. Bonus Depreciation Allowed under Federal Law for 2023  . . . . . 4. .   _________________________.00
          24                                                                                                                                                                                                                                                                                                        24
          25                                           5. Other (reserved)   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. ._________________________RESERVED            .00                                                                                                       25
          26                                                                                                                                                                                                                                                                                                        26
          27                                                                                                                                                                                                                                                                                                        27
                                                                          123456789012345 6.  Total Additions (ADD Line 3 and Line 4)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 6.  .  . _________________________.  .  .  .  .  .  .  .  .  .  .  .  .  . .00
          28                                                                                                                                                                                                                                                                                                        28
          29     SUBTRACTIONS FROM FEDERAL ADJUSTED GROSS INCOME                                                                                                                                                                                                                                                    29
          30                                                                                                                                                                                                                                                                                                        30
                                                      123456789012345 7.  Interest Income from U .S . Obligations  . . . . . . . . . . . . . . . . . . . . . 7. ._________________________.00
          31                                                                                                                                                                                                                                                                                                        31
          32                                                                                                                                                                                                                                                                                                        32
                                                      123456789012345 8.  Capital Gains Exclusion (Schedule IN-153, Line 21)   . . . . . . . . . 8. ._________________________.00
          33                                                                                                                                                                                                                                                                                                        33
          34                                                                                                                                                                                                                                                                                                        34
                                                      123456789012345 9.  Adjustment for Prior Years’ Bonus Depreciation  . . . . . . . . . . . . . 9. ._________________________.00
          35                                                                                                                                                                                                                                                                                                        35
          36      10.       Taxable Refunds of State and Local Income Taxes                                                                                                                                                                                                                                         36
                                                      123456789012345(Reported on federal Form 1040)  . . . . . . . . . . . . . . . . . . . . . . . . 10. ._________________________.00
          37                                                                                                                                                                                                                                                                                                        37
          38      11.  Medical Expense Deduction                                                                                                                                                                                                                                                                    38
                                                      123456789012345(see the worksheet in the instructions)  . . . . . . . . . . . . . . . . . . . . 11. ._________________________.00
          39                                                                                                                                                                                                                                                                                                        39
          40      12.  Retirement Benefits Exempt from Taxation                                                                                                                                                                                                                                                     40
                                                      123456789012345(see the worksheet in the instructions)  . . . . . . . . . . . . . . . . . . . . 12. ._________________________.00
          41                                                                                                                                                                                                                                                                                                        41
          42                                                                                                                                                                                                                                                                                                        42
                                                      123456789012345 13.  Railroad Retirement income  . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. ._________________________.00
          43                                                                                                                                                                                                                                                                                                        43
          44                                                                                                                                                                                                                                                                                                        44
                                                      123456789012345 14.  Bond/note interest income from (see below)  . . . . . . . . . . . . . . .  .14.  _________________________.00
          45                                                                                                                                                                                                                                                                                                        45
          46                VSAC                             Build                               Vermont Telecom                                             Vermont Public Power                                                                                                                                   46
                    X        X        America                                              X            Authority                             X              Supply Authority
          47                                                                                                                                                                                                                                                                                                        47
          48       15a.     For residents only -Enter the total student loan interest you                                                                                                                                                                                                                           48
                                                      123456789012345paid in 2023 on qualified student loans .  . . . . . . . . . . . . . . . . . . 15a. ._________________________.00
          49                                                                                                                                                                                                                                                                                                        49
          50                                            15b. For residents only -Enter any student loan interest already                                                                                                                                                                                            50
                                                      123456789012345deducted on federal Form 1040, Schedule 1, Line 21 .  . . . . . . .15b.  _________________________.00
          51                                                                                                                                                                                                                                                                                                        51
          52       15c. Subtract Line 15b from Line 15a .  If filing jointly and AGI is                                                                                                                                                                                                                             52
          53                greater than $200,000, enter -0- .  All other filers, if AGI is                                                                                                                                                                                                                         53
                                                      123456789012345greater than $120,000, enter -0- .   . . . . . . . . . . . . . . . . . . . . . . . 15c. ._________________________.00
          54                                                                                                                                                                                                                                                                                                        54
          55                                                                                                                                                                                                                                                                                                        55
                  16.  Other (reserved)   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. .                        _________________________RESERVED                        .00
          56                                                                                                                                                                                                                                                                                                        56
          57                                                                                                                                                                                                                                                                                                        57
                                                                          123456789012345 17.  Total Subtractions (ADD Lines 7 through 14 and Line 15c)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 17.  .  .  . _________________________.  .  .  .  .  .  .  .  .00
          58                                                                                                                                                                                                                                                                                                        58
          59     NET MODIFICATIONS TO FEDERAL ADJUSTED GROSS INCOME                                                                                                                                                                                                                                                 59
          60                                                                                                                                                                                                                                                                                                        60
                                                                          123456789012345 18.  SUBTRACT Line 17 from Line 6 .  Enter on Form IN-111, Line 2 .  . . . . . . . . . . . . . . .  .  .  .  .  .  .  . 18.  .  .  . _________________________.  .                            .00 
          61                This can be a negative number .                                                                                                                                                                          Schedule IN-112                                                                61
          62                                                                                                                                                                                                                                  Page 1 of 2                                                           62
          63                            5454                                                                                                                                                                                                     Rev. 10/23                                                         63
 0  0  0  0 640  0  0  0  0 1  1  1  1  1  1  1  1  1  1  2  2  2  2  2  2  2  2  2  2  3  3  3  3  3  3  3  3  3  3  4  4  4  4  4  4  4  4  4  4  5  5  5  5  5  5  5  5  5  5  6  6  6  6  6  6  6  6  6  6  7  7  7  7  7  7  7  7  7  8  8  8  8  8  8  8                                                      64
 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
          65                                                                                                                                                                                                                                                                                                        65
          66                                                                                                                                                                                                                                                                                                        66

          1                                                                                                                                                                                                                                                                                                                            1
 0  0  0  0 20  0  0  0  0   1  1  1  1  1  1  1  1  1  1  2  2  2  2  2  2  2  2  2  2  3  3  3  3  3  3  3  3  3  3  4  4  4  4  4  4  4  4  4  4  5  5  5  5  5  5  5  5  5  5  6  6  6  6  6  6  6  6  6  6  7  7  7  7  7  7  7  7  7  8  8  8  8  8  8  8                                                                        2
 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                                             Taxpayer’s Last Name                                     Social Security Number                                                                                                                                                                                                4
          5                                                                                                                                                                                                                                                                                                                            5
                         12345678901234567    123456789
          6                                                                                                                                                                        *231121200*                                                                                                                                         6
          7                                                                                                                                                                                                                                                                                                                            7
                                                                                                                                                                                   * 23 1121200*
          8      PART II                                                                                                                                                                                                                                                                                                               8                      Page 24
          9                                                                                                                                                                                                                                                                                                                            9
          10     REFUNDABLE CREDITS                                                                                                                                                                                                                                                                                                    10
          11     Child and Dependent Care Credit - Resident and Part-Year Resident                                                                                                                                                                                                                                                     11
          12       1.                                                                 1234567Child and Dependent Care Credit (federal Form 2441, Line 11)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 1. .  . ______________.  .  .  .  .  .  .  .  .  . .00.  .  .                            12
          13                                                                                                                                                                                                                                                                                                                           13
          14       2.                                                                 1234567Vermont Child and Dependent Care Credit (MULTIPLY Line 1 by 72% (0.72))  . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. .               ______________                                          .00                             14
          15                                                                                                                                                                                                                                                                                                                           15                    FORM  (Place at LAST page)
          16     Child Tax Credit - Resident and Part-Year Resident                                                                                                                                                                                                                                                                    16                     Form pages 
          17                                                                           12  3. Number of qualifying children  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 3. .  . __________________.  .  .  .  .  .  .  .  .  .  .  .  .  . 17.  .  .  .  .  .  .
          18                List only children who qualify for Child Tax Credit (born 2018 through 2023) below                                                                                                                                                                                                                         18
          19                    Qualifying Child #1 - Last Name                                                                    First Name                                      MI                      Social Security Number                              Year of Birth                                                           19
          20                                                                                                                                                                                                                                                                                                                           20
                   1234567890123(17)       1234567890123(17)    1   123456789         1234    
          21                    Qualifying Child #2 - Last Name                                                                    First Name                                      MI                      Social Security Number                              Year of Birth                                                           21
                                                                                                                                                                                                                                                                                                                                                       23 - 24
          22                                                                                                                                                                                                                                                                                                                           22
                   1234567890123(17)       1234567890123(17)    1   123456789         1234    
          23                    Qualifying Child #3 - Last Name                                                                    First Name                                      MI                      Social Security Number                              Year of Birth                                                           23
          24                                                                                                                                                                                                                                                                                                                           24
                   1234567890123(17)       1234567890123(17)    1   123456789         1234    
          25                                                                                                                                                                                                                                                                                                                           25
                   4.       Child Tax Credit (MULTIPLY Line 3 by $1,000) .  See instructions for credit amount if  
          26                                                                      1234567your Adjusted Gross Income from Form IN-111, Line 1 is over $125,000  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. .        ______________                                          .00                             26
          27                                                                                                                                                                                                                                                                                                                           27
          28     Earned Income Tax Credit - Resident and Part-Year Resident                                                                                                                                                                                                                                                            28
          29                                                                           12  5. Number of qualifying children from federal Schedule EIC  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 5. .  . __________________.  .  .  .  .  .  .  .  .  .  .  .  .  .                  29
          30                                                                                                                                                                                                                                                                                                                           30
          31       6.                                                                 1234567Federal Earned Income Tax Credit .  Enter amount from federal Form 1040  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. .   ______________                                          .00                             31
          32                                                                                                                                                                                                                                                                                                                           32
          33       7.                                                                 1234567Vermont Earned Income Tax Credit:MULTIPLY Line 6 by 38% (0.38)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. .          ______________                                          .00                             33
          34                                                                                                                                                                                                                                                                                                                           34
          35     Refundable Tax Credit - Resident and Part-Year Resident                                                                                                                                                                                                                                                               35
          36       8.                                                                 1234567Total Vermont Refundable Tax Credit(ADD Lines 2, 4, and 7)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 8. .  ______________.  .  .  .  .  .  .  .  .  . .00.  .  .                                36
          37                    Full-Year Residents:  Enter this amount on Form IN-111, Line 25c .                                                                                                                                                                                                                                     37
          38                    Part-Year Residents:  Complete Lines 9 through 12 .                                                                                                                                                                                                                                                    38
          39                                                                                                                                                                                                                                                                                                                           39
          40     Refundable Tax Credit Adjusted for Part-Year Residents                                                                                                                                                                                                                                                                40
          41       9.                                                                 1234567Enter amount from Schedule IN-113, Line 14B, Vermont Portion of Total Income  . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. .          ______________                                          .00                             41
          42                                                                                                                                                                                                                                                                                                                           42
          43      10.                                                                 1234567Enter amount from Schedule IN-113, Line 14A, Total Income  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 10. .  .  . ______________.  .  .  .  .  .  .  .  .  . .00.  .                              43
          44                                                                                                                                                                                                                                                                                                                           44
                  11.       Refundable Tax Credit Adjustment Percentage . (DIVIDE Line 9 by Line 10, then  
          45                                                                      MULTIPLY the result by 100) ...........................         . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11..          _________100._______00                                     %                             45
          46                                                                                                                                                                                                                                                                                                                           46
                  12.       Total Vermont Refundable Credit Adjusted for Part-Year Residents . (MULTIPLY Line 8 by Line 11.)   
          47                                                                      1234567Enter this amount on Form IN-111, Line 25c .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 12. .  . ______________.  .  .  .  .  .  .  .  .  . .00.  .  .  .  . 47.  .
          48                                                                                                                                                                                                                                                                                                                           48
          49                                                                                                                                                                                                                                                                                                                           49
          50                                                                                                                                                                                                                                                                                                                           50
          51                                                                                                                                                                                                                                                                                                                           51
          52                                                                                                                                                                                                                                                                                                                           52
          53                                                                                                                                                                                                                                                                                                                           53
          54                                                                                                                                                                                                                                                                                                                           54
          55                                                                                                                                                                                                                                                                                                                           55
          56                                                                                                                                                                                                                                                                                                                           56
          57                                                                                                                                                                                                                                                                                                                           57
          58                                                                                                                                                                                                                                                                                                                           58
          59                                                                                                                                                                                                                                                                                                                           59
          60                                                                                                                                                                                                                                                                                                                           60
          61                                                                                                                                                                                                                                                                                                                           61
          62                                                                                                                                                                                                                          Schedule IN-112                                                                                  62
                                                                                                                                                                                                                                               Page 2 of 2
          63                             5454                                                                                                                                                                                                     Rev. 10/23                                                                           63
 0  0  0  0 640  0  0  0  0  1  1  1  1  1  1  1  1  1  1  2  2  2  2  2  2  2  2  2  2  3  3  3  3  3  3  3  3  3  3  4  4  4  4  4  4  4  4  4  4  5  5  5  5  5  5  5  5  5  5  6  6  6  6  6  6  6  6  6  6  7  7  7  7  7  7  7  7  7  8  8  8  8  8  8  8                                                                        64
 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
          65                                                                                                                                                                                                                                                                                                                           65
          66                                                                                                                                                                                                                                                                                                                           66