![]() Enlarge image | Vermont Department of Taxes 133 State Street Montpelier, VT 05633-1401 Phone: (802) 828-6851 VT Schedule *191811100* LAND GAINS BASIS CALCULATION *191811100* LGT-181 FORECLOSURE PROPERTY Page 2 Please PRINT in BLUE or BLACK INK ATTACH TO FORM LGT-178 Entity TRANSFEROR Name Federal ID Number OR Individual TRANSFEROR Last Name First Name Initial OR Social Security Number Property Location Date of Closing 1. Debt Due - Principal balance from judgment (Principal balance from judgment does not include interest) . . . . . . . . . . . . . . . . . . . 1. _______________________ 2. Cost of acquisition 2a. Legal fees . . . . . . . . . . . . . . . . . . . . . . . . . . . 2a. ________________________ FORM (Place at FIRST page) Form pages 2b. Recording fees . . . . . . . . . . . . . . . . . . . . . . . 2b. ________________________ 2c. Other . Explain___________________ . . . . 2c. ________________________ 2 - 2 2d. Total cost of acquisition (Add Lines 2a-2c) . . . . . . . . . . . . . . . . . . . . . . . . . . . 2d. _______________________ 3. Add Lines 1 and 2d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. _______________________ 4. Tax benefit due to bad debt write down 4a. Amount of loan write down . . . . . . . . . . . . . 4a. ________________________ 4b. Tax bracket . . . . . . . . . . . . . . . . . . . . . . . . . . 4b. ______________ . _______% 4c. Tax benefit received (Multiply Line 4a by Line 4b) . . . . . . . . . . . . . . . . . . . . 4c. _______________________ 5. Basis (Subtract Line 4c from Line 3) Enter this amount on Form LGT-178, Line H4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. _______________________ FORM (Place at LAST page) Form pages 2 - 2 Schedule LGT-181 Page 1 of 1 5454 Rev. 11/19 Clear ALL fields Save and go to Important Printing Instructions Save and Print |