This is a legal form that was released by the Vermont Department of Taxes - a government authority operating within Vermont. As of today, no separate filing guidelines for the form are provided by the issuing department.
Q: What is the FIT-162 form?
A: The FIT-162 form is the Vermont tax form used to calculate the capital gains exclusion for estates or trusts.
Q: What is a capital gains exclusion?
A: A capital gains exclusion is a tax benefit that allows individuals or entities to exclude a portion of their capital gains from being taxed.
Q: Who uses the FIT-162 form?
A: The FIT-162 form is used by estates or trusts in Vermont to calculate their capital gains exclusion.
Q: Why would an estate or trust need to calculate a capital gains exclusion?
A: An estate or trust may need to calculate a capital gains exclusion to reduce the amount of taxable income and lower their overall tax liability.
Q: How is the capital gains exclusion calculated on the FIT-162 form?
A: The specific calculation for the capital gains exclusion on the FIT-162 form can be found in the instructions provided with the form.
Form Details:
Download a fillable version of VT Form FIT-162 by clicking the link below or browse more documents and templates provided by the Vermont Department of Taxes.