BA-406: Credit Allocation Schedule (2024)
Vermont · Vermont Department of Taxes · Used for tax years 2024
Vermont Schedule BA-406 reports tax credits allocated to a shareholder, partner, or member for 2024. It lists amounts by credit type and the total credits for that owner, and is included with Form BI-471 or Form BI-476.
Who files this form
Schedule BA-406 lists Vermont credits for a shareholder, partner, or member. The form directs filers to include it with Form BI-471 or Form BI-476.
What you'll need
Have the following information ready:
- The entity name, matching Form BI-471 or Form BI-476, its FEIN, and its fiscal year ending date in YYYYMMDD format.
- The shareholder, partner, or member’s individual or entity name and Social Security number or FEIN, as applicable.
- The recipient’s entity type code.
- The amounts for the credits listed on lines 1 through 10.
The schedule must be included with Form BI-471 or Form BI-476.
How to file
Include the completed 2024 Schedule BA-406 with Form BI-471 or Form BI-476.
Print in blue or black ink and enter all amounts in whole dollars. Enter each credit amount on its labeled line, then add lines 1 through 10 and enter the total on line 11.
The provided form does not give a mailing address or e-filing instructions.
Common mistakes
- Do not enter cents. The form requires whole-dollar amounts.
- Use blue or black ink when printing.
- Make sure the entity name matches the name on Form BI-471 or Form BI-476.
- Do not leave the schedule separate from the return. The form says to include it with Form BI-471 or Form BI-476.
Questions people ask
Which return goes with Schedule BA-406?
Include it with Form BI-471 or Form BI-476.
How do I calculate the total credits?
Add lines 1 through 10. Enter the total credits for the shareholder, partner, or member on line 11.
Should I enter dollars and cents?
No. Enter all amounts in whole dollars.
Which entity type codes does the form list?
The form lists I, C, S, L, P, and T and says to see the instructions. The provided form does not explain the codes, and no instructions were supplied.