Vermont Department of Taxes 

               2023 Schedule IN-112                                                                                                                         *231121100*
                                                                                                   Please PRINT in                                          * 23 1121100*
    Vermont Tax Adjustments and Credits                                                        BLUE or BLACK INK
                                                                                                                                                                 INCLUDE WITH FORM IN-111                                                                                                          Page 23
               Taxpayer’s Last Name                                                            First Name                                                   MI                   Taxpayer’s Social Security Number
  1234567890123(17)       1234567890123(17)    1   123456789       

PART I 
ADDITIONS TO FEDERAL ADJUSTED GROSS INCOME                                                                                                                                                                                                                                                         FORM  (Place at FIRST page)
  1.  Total interest and dividend income from all state and local                                                                                                                                                                                                                                  Form pages 
      obligations exempt from federal tax  
                                     123456789012345(reported on federal Form 1040)  . . . . . . . . . . . . . . . . . . . . . . . . . . 1. ._________________________.00
  2.  Interest and dividend income from Vermont state and local 
                                     123456789012345obligations included in Line 1  . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. ._________________________.00

                                                          1234567890123453.  Income from Non-Vermont State and Local Obligations (SUBTRACT Line 2 from Line 1)   . . . . . . . .3.   _________________________.00                                                                                  23 - 24

                                     123456789012345 4. Bonus Depreciation Allowed under Federal Law for 2023  . . . . . 4. ._________________________.00

                                      5. Other (reserved)   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. ._________________________RESERVED .00

                                                         123456789012345 6.  Total Additions (ADD Line 3 and Line 4)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 6.  .  . _________________________.  .  .  .  .  .  .  .  .  .  .  .  .  . .00
SUBTRACTIONS FROM FEDERAL ADJUSTED GROSS INCOME
                                     123456789012345 7.  Interest Income from U .S . Obligations  . . . . . . . . . . . . . . . . . . . . . 7. ._________________________.00

                                     123456789012345 8.  Capital Gains Exclusion (Schedule IN-153, Line 21)   . . . . . . . . . 8. ._________________________.00

                                     123456789012345 9.  Adjustment for Prior Years’ Bonus Depreciation  . . . . . . . . . . . . . 9. ._________________________.00
 10.  Taxable Refunds of State and Local Income Taxes 
                                     123456789012345(Reported on federal Form 1040)  . . . . . . . . . . . . . . . . . . . . . . . . 10. ._________________________.00
 11.  Medical Expense Deduction  
                                     123456789012345(see the worksheet in the instructions)  . . . . . . . . . . . . . . . . . . . . 11. ._________________________.00
 12.  Retirement Benefits Exempt from Taxation  
                                     123456789012345(see the worksheet in the instructions)  . . . . . . . . . . . . . . . . . . . . 12. ._________________________.00

                                     123456789012345 13.  Railroad Retirement income  . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. ._________________________.00

                                     123456789012345 14.  Bond/note interest income from (see below)  . . . . . . . . . . . . . . .  .14.  _________________________.00
       VSAC                    Build                           Vermont Telecom                                                              Vermont Public Power 
   X        X        America                             X            Authority                      X                                      Supply Authority
  15a. For residents only -Enter the total student loan interest you  
                                     123456789012345paid in 2023 on qualified student loans .  . . . . . . . . . . . . . . . . . . 15a. ._________________________.00
                                       15b. For residents only -Enter any student loan interest already  
                                     123456789012345deducted on federal Form 1040, Schedule 1, Line 21 .  . . . . . . .15b.  _________________________.00
  15c. Subtract Line 15b from Line 15a .  If filing jointly and AGI is  
      greater than $200,000, enter -0- .  All other filers, if AGI is  
                                     123456789012345greater than $120,000, enter -0- .   . . . . . . . . . . . . . . . . . . . . . . . 15c. ._________________________.00

 16.  Other (reserved)   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. . _________________________RESERVED                                    .00

                                                         123456789012345 17.  Total Subtractions (ADD Lines 7 through 14 and Line 15c)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 17.  .  .  . _________________________.  .  .  .  .  .  .  .  .00
NET MODIFICATIONS TO FEDERAL ADJUSTED GROSS INCOME
                                                         123456789012345 18.  SUBTRACT Line 17 from Line 6 .  Enter on Form IN-111, Line 2 .  . . . . . . . . . . . . . . .  .  .  .  .  .  .  . 18.  .  .  . _________________________.  .                            .00 
      This can be a negative number .                                                                                                                                            Schedule IN-112
                                                                                                                                                                                 Page 1 of 2
                5454                                                                                                                                                             Rev. 10/23

                    Taxpayer’s Last Name                          Social Security Number
        12345678901234567    123456789
                                                                                                                         *231121200*
                                                                                                                         * 23 1121200*
PART II                                                                                                                                                                                                                                                                                                                                     Page 24
REFUNDABLE CREDITS 
Child and Dependent Care Credit - Resident and Part-Year Resident
                                                                 1234567  1. Child and Dependent Care Credit (federal Form 2441, Line 11)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 1. .  . ______________.  .  .  .  .  .  .  .  .  . .00.  .  .

                                                                 1234567  2. Vermont Child and Dependent Care Credit (MULTIPLY Line 1 by 72% (0.72))  . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. .______________                                                        .00
                                                                                                                                                                                                                                                                                                                                           FORM  (Place at LAST page)
Child Tax Credit - Resident and Part-Year Resident                                                                                                                                                                                                                                                                                          Form pages 
                                                                      12  3. Number of qualifying children  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 3. .  . __________________.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
     List only children who qualify for Child Tax Credit (born 2018 through 2023) below
      Qualifying Child #1 - Last Name                                         First Name                                   MI                   Social Security Number                                                    Year of Birth
  1234567890123(17)       1234567890123(17)    1   123456789         1234    
      Qualifying Child #2 - Last Name                                         First Name                                   MI                   Social Security Number                                                    Year of Birth
                                                                                                                                                                                                                                                                                                                                     23 - 24
  1234567890123(17)       1234567890123(17)    1   123456789         1234    
      Qualifying Child #3 - Last Name                                         First Name                                   MI                   Social Security Number                                                    Year of Birth
  1234567890123(17)       1234567890123(17)    1   123456789         1234    
  4. Child Tax Credit (MULTIPLY Line 3 by $1,000) .  See instructions for credit amount if  
                                                                 1234567your Adjusted Gross Income from Form IN-111, Line 1 is over $125,000  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. .______________                                                  .00
Earned Income Tax Credit - Resident and Part-Year Resident
                                                                      12  5. Number of qualifying children from federal Schedule EIC  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 5. .  . __________________.  .  .  .  .  .  .  .  .  .  .  .  .  .

                                                                 1234567  6. Federal Earned Income Tax Credit .  Enter amount from federal Form 1040  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. .______________                                            .00

                                                                 1234567  7. Vermont Earned Income Tax Credit:MULTIPLY Line 6 by 38% (0.38)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. .______________                                                   .00
Refundable Tax Credit - Resident and Part-Year Resident
                                                                 1234567  8. Total Vermont Refundable Tax Credit(ADD Lines 2, 4, and 7)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 8. .  . ______________.  .  .  .  .  .  .  .  . .00.  .  .
      Full-Year Residents:  Enter this amount on Form IN-111, Line 25c . 
      Part-Year Residents:  Complete Lines 9 through 12 .

Refundable Tax Credit Adjusted for Part-Year Residents
                                                                 1234567  9. Enter amount from Schedule IN-113, Line 14B, Vermont Portion of Total Income  . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. .______________                                                   .00

                                                                 1234567 10. Enter amount from Schedule IN-113, Line 14A, Total Income  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 10. .  .  . ______________.  .  .  .  .  .  .  .  .  . .00.  .
 11. Refundable Tax Credit Adjustment Percentage . (DIVIDE Line 9 by Line 10, then  
                                                                 MULTIPLY the result by 100) ...........................    . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11..  .  _________100._______00                                                 %
 12. Total Vermont Refundable Credit Adjusted for Part-Year Residents . (MULTIPLY Line 8 by Line 11.)   
                                                                 1234567Enter this amount on Form IN-111, Line 25c .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 12. .  . ______________.  .  .  .  .  .  .  .  .  . .00.  .  .  .  .  .  .

                                                                                                                                                                        Schedule IN-112
                                                                                                                                                                                   Page 2 of 2
             5454                                                                                                                                                                  Rev. 10/23