IN-152A: Annualized Income Installment Method for Underpayment of 2024 Estimated Tax by Individuals, Estates, and Trusts (2024)
Vermont · Vermont Department of Taxes · Used for tax years 2024
Vermont Worksheet IN-152A calculates underpayment of 2024 estimated tax for individuals, estates, and trusts using the annualized income installment method. It uses information from federal Form 2210 to calculate quarterly Vermont payments due, underpayments, and related interest
When it's due
For tax year 2024, the worksheet lists these quarterly payment due dates:
- April 15, 2024
- June 15, 2024
- September 15, 2024
- January 15, 2025
For the 2024 underpayment calculation, Line 9 uses the date full payment was made or April 15, 2025, whichever is earlier.
What you'll need
Have these forms and payment details ready:
- Federal Form 2210, pages 1–4: Attach a copy. The worksheet uses Page 1, Line 9 and Page 3, Line 27.
- 2024 Vermont Form IN-111: You need Lines 20, 26c, 26a, 26d, and 26e.
- 2023 Vermont Form IN-111: You need Lines 20 and 25c.
- Payment details: Your 2023 carryforward, 2024 quarterly estimated payments made by each due date, and the date full payment was made.
- Taxpayer information: Names and Social Security numbers for you and your spouse or civil union partner, as applicable.
Common mistakes
- Do not forget to attach federal Form 2210, pages 1–4.
- Do not enter more on Line 7c for a quarter than the amount on Line 6. Apply any excess to the next quarter.
- Do not enter a negative underpayment on Line 8. It cannot be less than zero.
- For fourth-quarter interest on Line 10b, count days from January 15, 2025.
- When counting months for the penalty on Line 14, count a portion of a month as a whole month.
Questions people ask
What is Worksheet IN-152A used for?
It calculates underpayment interest and penalty for 2024 estimated tax using the annualized income installment method for individuals, estates, and trusts.
How is the required annual payment calculated?
Line 3 uses the smaller of 90% of your 2024 Vermont tax minus credits or 100% of your 2023 Vermont tax minus credits. For 2024, use Form IN-111, Line 20 minus Line 26c. For 2023, use Form IN-111, Line 20 minus Line 25c.
What interest rates does the worksheet use?
It uses 8.00% for 2024 interest and 8.50% for 2025 interest. Each calculation divides the applicable number of days by 365, then multiplies by the rate and the quarterly underpayment on Line 8.
How is the underpayment penalty calculated?
For each quarter, multiply the number of months on Line 14 by 1%, then by the underpayment on Line 8. A portion of a month counts as a whole month. Add the quarterly penalties on Line 16.