Please PRINT in BLUE or BLACK INK Schedule IN-112 Page 1 of 2 Rev. 10/23 INCLUDE WITH FORM IN-111 Vermont Department of Taxes 2023 Schedule IN-112 Vermont Tax Adjustments and Credits

Taxpayer’s Last Name First Name MI Taxpayer’s Social Security Number VSAC Vermont Public Power Supply Authority Vermont Telecom Authority Build America *231121100* * 2 3 1 1 2 1 1 0 0 * RESERVED 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 2023. . . . . . 4. __________________________.00 5. Other (reserved) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. __________________________.00 6. Total Additions (ADD Line 3 and Line 4). . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. _ _________________________ .00 SUBTRACTIONS FROM FEDERAL ADJUSTED GROSS INCOME 7. Interest Income from U. S. Obligations. . . . . . . . . . . . . . . . . . . . . . 7. __________________________.00 8. Capital Gains Exclusion (Schedule IN-153, Line 21) . . . . . . . . . . 8. __________________________.00 9. Adjustment for Prior Years’ Bonus Depreciation. . . . . . . . . . . . . . 9. __________________________.00 10. Taxable Refunds of State and Local Income Taxes (Reported on federal Form 1040). . . . . . . . . . . . . . . . . . . . . . . . . 10. __________________________.00 11. Medical Expense Deduction (see the worksheet in the instructions). . . . . . . . . . . . . . . . . . . . . 11. __________________________.00 12. Retirement Benefits Exempt from Taxation (see the worksheet in the instructions). . . . . . . . . . . . . . . . . . . . . 12. __________________________.00 13. Railroad Retirement income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. __________________________.00 14. Bond/note interest income from (see below). . . . . . . . . . . . . . . . 14. __________________________.00 15a. For residents only - Enter the total student loan interest you paid in 2023 on qualified student loans. . . . . . . . . . . . . . . . . . . . 15a. __________________________.00 15b. For residents only - Enter any student loan interest already deducted on federal Form 1040, Schedule 1, Line 21. . . . . . . . . 15b. __________________________.00 15c. Subtract Line 15b from Line 15a. If filing jointly and AGI is greater than $200,000, enter -0-. All other filers, if AGI is greater than $120,000, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . 15c. __________________________.00 16. Other (reserved) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. __________________________.00 17. Total Subtractions (ADD Lines 7 through 14 and Line 15c). . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. _ _________________________ .00 NET MODIFICATIONS TO FEDERAL ADJUSTED GROSS INCOME 18. SUBTRACT Line 17 from Line 6. Enter on Form IN-111, Line 2. . . . . . . . . . . . . . . . .. . . . . . . . . . . . 18. _ _________________________ .00 This can be a negative number. RESERVED 5454

PART II REFUNDABLE CREDITS Child and Dependent Care Credit - Resident and Part-Year Resident 1. Child and Dependent Care Credit (federal Form 2441, Line 11). . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. _______________ .00 2. Vermont Child and Dependent Care Credit (MULTIPLY Line 1 by 72% (0.72)). . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. _______________ .00 Child Tax Credit - Resident and Part-Year Resident 3. Number of qualifying children. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. ___________________

List only children who qualify for Child Tax Credit (born 2018 through 2023) below

Qualifying Child #1 - Last Name First Name MI Social Security Number Year of Birth

Qualifying Child #2 - Last Name First Name MI Social Security Number Year of Birth

Qualifying Child #3 - Last Name First Name MI Social Security Number Year of Birth 4. Child Tax Credit (MULTIPLY Line 3 by $1,000). See instructions for credit amount if your Adjusted Gross Income from Form IN-111, Line 1 is over $125,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. _______________ .00 Earned Income Tax Credit - Resident and Part-Year Resident 5. Number of qualifying children from federal Schedule EIC. . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. ___________________ 6. Federal Earned Income Tax Credit. Enter amount from federal Form 1040. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. _______________ .00 7. Vermont Earned Income Tax Credit: MULTIPLY Line 6 by 38% (0.38). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. _______________ .00 Refundable Tax Credit - Resident and Part-Year Resident 8. Total Vermont Refundable Tax Credit (ADD Lines 2, 4, and 7) . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. _______________ .00

Full-Year Residents: Enter this amount on Form IN-111, Line 25c.

Part-Year Residents: Complete Lines 9 through 12. Refundable Tax Credit Adjusted for Part-Year Residents 9. Enter amount from Schedule IN-113, Line 14B, Vermont Portion of Total Income. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. _______________ .00 10. Enter amount from Schedule IN-113, Line 14A, Total Income. . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10. _______________ .00 11. Refundable Tax Credit Adjustment Percentage. (DIVIDE Line 9 by Line 10, then MULTIPLY the result by 100). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. __________ ._______% 12. Total Vermont Refundable Credit Adjusted for Part-Year Residents. (MULTIPLY Line 8 by Line 11.) Enter this amount on Form IN-111, Line 25c. . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. _______________ .00

Schedule IN-112 Page 2 of 2 Rev. 10/23 *231121200* * 2 3 1 1 2 1 2 0 0 *

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