IN-111: Vermont Income Tax Return (2024)
Vermont · Vermont Department of Taxes · Used for tax years 2024
Form IN-111 is Vermont’s 2024 individual income tax return. It reports income, deductions, exemptions, taxes, credits, and payments to calculate your refund or amount due.
What you'll need
The return uses information from these documents, depending on which lines apply to you:
- Federal Form 1040: adjusted gross income from Line 11 and dependents claimed on the federal return.
- W-2 and 1099 forms: 2024 Vermont tax withheld.
- Vermont schedules: IN-112 for income modifications and refundable credits, IN-113 for the income adjustment, IN-117 for the other state credit, and IN-119 for tax adjustments and credits.
- Form RW-171: 2024 Vermont real estate withholding.
- Schedule K-1VT, Line 5: 2024 nonresident estimated tax payments allocated to you.
- Worksheet IN-152 or IN-152A: interest and penalty on underpayment of estimated tax, if applicable.
You will also need amounts for 2024 estimated tax payments, any amount carried forward from 2023, and any payment made with a 2024 extension. The form asks for your Social Security number, mailing address, physical address on December 31, 2024, Vermont school district code, and healthcare coverage code.
How to file
The form encourages electronic filing for a faster refund and directs you to tax.vermont.gov for more information.
If completing the form by hand, print in blue or black ink. Sign and date the return. If filing jointly, both people must sign. Keep a copy for your records.
The supplied form does not provide a mailing address.
Common mistakes
- Missing a signature on a joint return: the form says both people must sign.
- Using the wrong ink: print in blue or black ink.
- Overlooking the standard deduction reminder: if you or your spouse checked any standard deduction boxes on page 1 of federal Form 1040, the form directs you to the instructions.
- Skipping the Line 8 reminder: if Line 1 is greater than $150,000, the form directs you to the instructions before determining the tax on Line 8.
- Not keeping a copy: the form reminds you to keep one for your records.
Questions people ask
What standard deduction amounts are listed for 2024?
The form lists $7,400 for single or married/civil union filing separately, $14,850 for married/civil union filing jointly or qualifying widow(er), and $11,100 for head of household. It also directs you to the instructions if you or your spouse checked any standard deduction boxes on federal Form 1040, page 1.
How much is the 2024 personal exemption?
Line 5e multiplies your total exemptions by $5,100. Lines 5a and 5b allow an exemption for yourself and your jointly filing spouse or civil union partner only if no one can claim that person as a dependent. Line 5c asks for other dependents claimed on federal Form 1040.
Does the return include use tax on online purchases?
Yes. Line 22 covers taxable items on which no sales tax was charged, including online purchases. The form also has a box to certify that no use tax is due.
Can I apply my refund to next year's taxes?
The 2024 return lets you credit a refund amount toward your 2025 estimated tax payment on Line 28a or your 2025 property tax bill on Line 28b. Those amounts are subtracted from your overpayment to calculate the refund on Line 29.