Instructions for VT Form LGT-178 Vermont Land Gains Tax Return - Vermont

Instructions for VT Form LGT-178 Vermont Land Gains Tax Return - Vermont

This document contains official instructions for VT Form LGT-178 , Vermont Land Gains Tax Return - a form released and collected by the Vermont Department of Taxes. An up-to-date fillable VT Form LGT-178 is available for download through this link.

FAQ

Q: What is VT Form LGT-178?
A: VT Form LGT-178 is the Vermont Land Gains Tax Return.

Q: Who needs to file VT Form LGT-178?
A: Any individual or entity who has realized a gain from the sale of Vermont real property needs to file VT Form LGT-178.

Q: What is the purpose of filing VT Form LGT-178?
A: The purpose of filing VT Form LGT-178 is to calculate and report the Vermont Land Gains Tax owed on the realized gain from the sale of Vermont real property.

Q: When is the deadline to file VT Form LGT-178?
A: VT Form LGT-178 must be filed by the due date of your Vermont personal income tax return, which is typically April 15th.

Q: Are there any exceptions or exemptions to the Vermont Land Gains Tax?
A: Yes, there are certain exceptions and exemptions to the Vermont Land Gains Tax. It is recommended to consult the instructions for VT Form LGT-178 or seek professional tax advice for more information.

Q: What supporting documentation do I need to include with VT Form LGT-178?
A: You may need to include a copy of the settlement statement, purchase and sale agreement, or other documentation that supports the gain or loss claimed on VT Form LGT-178.

Q: What happens if I don't file VT Form LGT-178?
A: Failure to file VT Form LGT-178 or underreporting the gain may result in penalties and interest being assessed by the Vermont Department of Taxes.

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Instruction Details:

  • This 7-page document is available for download in PDF;
  • Actual and applicable for the current year;
  • Complete, printable, and free.

Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of forms released by the Vermont Department of Taxes.

Download Instructions for VT Form LGT-178 Vermont Land Gains Tax Return - Vermont

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