PART I ADDITIONS TO FEDERAL ADJUSTED GROSS INCOME 1. Total interest and dividend income from all state and local obligations exempt from federal tax (Reported on federal Form 1040). . . 1. _____________________________ .00 2. Interest and dividend income from Vermont state and local obligations included in Line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. _____________________________ .00 3. Income from Non-Vermont State and Local Obligations (Subtract Line 2 from Line 1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. _____________________________ .00 4. Bonus Depreciation Allowed under Federal Law for 2020. . . . . . . . . . . . . 4. _____________________________ .00 5. Total Additions (Add Line 3 and Line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. ______________________________.00 SUBTRACTIONS FROM FEDERAL ADJUSTED GROSS INCOME 6. Interest Income from U. S. Obligations. . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. _____________________________ .00 7. Capital Gains Exclusion (Schedule IN-153, Line 21). . . . . . . . . . . . . . . . . 7. _____________________________ .00 8. Adjustment for Prior Years’ Bonus Depreciation. . . . . . . . . . . . . . . . . . . . 8. _____________________________ .00 9. Taxable Refunds of State and Local Income Taxes (Reported on federal Form 1040) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. _____________________________ .00 10. Medical Expense Deduction (see the worksheet in the instructions) . . . . 10. _____________________________ .00 11. Social Security Benefits Exempt from Taxation (see the worksheet in the instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. _____________________________ .00 12. Railroad Retirement income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. _____________________________ .00 13. Bond/note interest income from (see below). . . . . . . . . . . . . . . . . . . . . . . 13. _____________________________ .00 14. Total Subtractions (Add Lines 6 through 13) . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. ______________________________.00 NET MODIFICATIONS TO FEDERAL ADJUSTED GROSS INCOME 15. Subtract Line 14 from Line 5. Enter on Form IN-111, Line 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15. ______________________________.00 This can be a negative number. Please PRINT in BLUE or BLACK INK Schedule IN-112 Rev. 10/20 Page 1 of 2 INCLUDE WITH FORM IN-111 Vermont Department of Taxes 2020 Schedule IN-112 Vermont Tax Adjustments and Credits Check to ç indicate loss Taxpayer’s Last Name First Name MI Taxpayer’s Social Security Number VSAC Vermont Public Power Supply Authority Vermont Telecom Authority Build America *201121100* * 2 0 1 1 2 1 1 0 0 * 5454

PART II REFUNDABLE CREDITS Line 1 is for FULL-YEAR residents 1. Low Income Child & Dependent Care Credit . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. _________________.00

If your federal Adjusted Gross Income is $30,000 (or $40,000 for Married Filing Jointly) or less, and child care services are provided by a Vermont accredited daycare provider, enter 50% of federal Form 2441, Line 11. If you are not a Vermont resident or your daycare provider is not accredited, use Schedule IN-119, Part I, Line 8. See instructions if your providers are both accredited and not accredited. VERMONT EARNED INCOME TAX CREDIT For FULL-YEAR residents and PART-YEAR residents ELIGIBILITY QUESTIONS MUST BE ANSWERED A. Enter number of qualifying children. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A. _______________ B. Enter number of qualifying children under the age of 18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B. _______________ C. Were you (or your spouse if filing a joint return) at least age 25 but under age 65 at the end of 2020?. . . . . . . . . . . . . . . . . C. If you answered “No” and do not have any qualifying children, you do not qualify for Earned Income Tax Credit FULL-YEAR RESIDENTS Answer eligibility questions above and complete Lines 2 and 3 2. Earned income tax credit (Reported on federal Form 1040). . . . . . . . . . . . . . . . . . . . . 2. __________________.00 3. Vermont Earned Income Tax Credit. Multiply Line 2 by 36% (0. 36). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. _______________ .00 PART YEAR RESIDENTS Answer eligibility questions above and complete Lines 4 through 10 4. Wages, salaries, tips, etc. (Schedule IN-113, Line 1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4A. _ ______________ .00 4B. _______________ .00 5. Other earned income (Schedule IN-113, Lines 8, 10, and 11) . . . . . . . 5A. _ ______________ .00 5B. _______________ .00 6. Total earned income (Add Lines 4 and 5). . . . . . . . . . . . . . . . . 6A. _ ______________ .00 6B. _______________ .00 7. Earned income tax credit adjustment (Divide Line 6B by Line 6A and enter here, but not more than 100%). . . . . . . . 7. __________ ._______% 8. Earned income tax credit (Reported on federal Form 1040). . . . . . . . . . . . . . . . . . . . . . . . . 8. _ ______________ .00 9. Multiply Line 8 by 36% and enter the result here. . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. _______________ .00 10. Vermont Earned Income Tax Credit (Multiply Line 9 by Line 7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10. _______________ .00 11. TOTAL REFUNDABLE CREDITS (Add Line 1 to Line 3 or Line 10. Enter this amount on the IN-111, Line 25c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. _______________ .00 Schedule IN-112 Rev. 10/20 Page 2 of 2 B. Vermont Portion $ For Vermont Portion, enter income earned while a Vermont resident as shown on Schedule IN-113, Column B, Lines 1, 8, 10, and 11 A. Federal Amount $ Enter figures in Column A from your federal EITC worksheet and Schedule IN-113 Taxpayer’s Last Name Social Security Number Yes No

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