Get Vt Schedule In-153 2020-2025

Completing the VT Schedule IN-153 is a crucial step in claiming your capital gain exclusion. This guide provides straightforward instructions to help you successfully fill out the form online.

Follow the steps to effectively complete the VT Schedule IN-153.

1. Press the ‘Get Form’ button to obtain the form and open it in your preferred editor.
2. Fill in your last name, first name, middle initial, and Social Security number in the designated fields at the top of the form.
3. In Part I, start with Line 1 by entering the smaller amount from Line 15 or 16 of your federal Form 1040, Schedule D.
4. For Line 2a, input the amount from federal Form 1040, Schedule D, Line 18, and for Line 2b, the amount from federal Form 1040, Schedule D, Line 19.
5. Add the amounts in Lines 2a and 2b, and enter the total in Line 3.
6. Subtract the amount in Line 3 from Line 1 and enter the result in Line 4.
7. If you filed a federal Form 4952, move to Lines 5 through 8 for additional calculations relevant to your situation, entering the required amounts as instructed.
8. In Part II, if eligible gains apply, complete Lines 10 to 18, following similar instructions to calculate your capital gain exclusion percentage.
9. In Part III, determine your final capital gain exclusion by comparing values from previous sections and entering the required amounts in Lines 19 to 21.
10. Once you have completed the form, save your changes, then download, print, or share the completed form as necessary.

Complete your forms online today for a more efficient filing experience.