Form Schedule IN-153 Fillable Capital Gain Exclusion Calculation
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(Use this section only if you have eligible gains See Technical Bulletin 60 for more information or continue on to Part III ) 1 Enter smaller of Line 15 or 16 from Federal Form 1040 Schedule D 1 10 Enter the amount from Part I Line 4 10 11 Enter amount of adjusted net capital gain from the sale 12 Assets held for more than three years Subtract Line 11 13a Real estate or portion of real estate used 13b Depreciable personal property (except 13c Stocks or bonds publicly traded or 14 Add Lines 13a through 13c 14 15 Subtract Line 14 from Line 12; enter result here 16 Enter amount from Part I Line 7 or recomputed 17 Subtract Line 16 from Line 15 17 18 Multiply Line 17 by 40%; enter result here 18 19 Enter the greater of Line 9 or Line 18 19 2 Enter amount from: 20 Multiply x 40%; enter result here 20 21 Enter the smaller of Line 19 or Line 20 This is your capital gain exclusion 2a Federal Form 1040 Schedule D Line 18 2a 2b Federal Form 1040 Schedule D Line 19 2b 3 Add Lines 2a and 2b 3 4 Subtract Line 3 from Line 1 4 5 Enter amount from: 5a Federal Form 4952 Line 4g 5a 5b Federal Form 4952 Line 4e 5b 5c Multiply Line 5a by Line 5b and enter result here 5c 5d Federal Form 4952 Line 4b 5d 5e Federal Form 4952 Line 4e 5e 6 Add Lines 5d and 5e; enter result here 6 7 Divide Line 5c by Line 6; enter result here 7 8 Subtract Line 7 from Line 4 Entry cannot be less than zero (0) 8 9 Enter the smaller of Line 8 or $5 000 9 If you filed Federal Form 4952 complete Lines 5 through 7 *151531100* *151531200* as a primary or nonprimary home 13a ATTACH TO FORM IN 111 Calculation Capital Gain Exclusion continued on back Enter on Form IN 111 Line 14b 21 Enter the amount of net adjusted capital gain from the sale of the following assets held for more than three years Entry cannot be less than zero (0) This is the amount Federal Form 4952 16 Federal Taxable Income from Form IN 111 Line 11 financial instruments 13c for farm property or standing timber) 13b from Line 10 Entry cannot be less than zero (0) 12 from Part I of this form Otherwise you may need to recompute Federal Form 4952 to reflect only investment interest income for assets eligible for IN 153 Line 16 Federal Form 4952 information If no investment interest expense for ineligible assets was reported on Federal Form 4952 enter Line 7 of assets held for three years or less 11 of net adjusted capital gain eligible for exclusion 15 PART I Flat Exclusion PART II Percentage Exclusion PART III Capital Gain Exclusion PRINT in BLUE or BLACK INK SCHEDULE Schedule IN 153 Schedule IN 153 page 2 of 2 Taxpayer s Last Name First Name Initial Taxpayer s Social Security Number Taxpayer s Last Name Social Security Number the capital gain exclusion traded on an exchange or any other VERMONT