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Screen VTGen - Vermont General Information (1040)

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Overview

Use this screen to provide additional information needed to complete Form IN-111 Income Tax Return. If the information transferred from UltraTax/1040 does not require additional data or coding, UltraTax/1040-VT shows it on the form only, not in the input screen.

Return Information

911 physical street address is the mailing address on Form IN-111
When the mailing address on the return is the same as the 911 physical address, mark this box and UltraTax CS will automatically fill 911 street address form field with the mailing address.
911 physical street address as of 12/31
This field is required for both electronically filed and paper filed returns even if a taxpayer died or moved out of Vermont. The field needs to contain an physical address, PO Box, the word same, or town name aren't permitted by the state.
Authorize discussion with state taxing authority
Use this field to change the option indicated in the 1040 federal screen. A global default is available for all new clients for both federal and state returns. To select this option, go to
Setup
 and select
1040 Individual
. In the
Federal
 tab, select
New Client Options
 and from the dropdown select
Yes
 for the
Authorize discussion with taxing authority
 checkbox.
Married filing separate returns using recomputed federal return
A recomputed federal return is needed to complete the Vermont return under certain circumstances. UltraTax CS ]answers
Yes
 to the question,
Are you using RECOMPUTED Federal Return Information?
 on Form IN-111 if the filing status for Vermont is Civil union filing jointly or Civil union filing separately. Use this field to answer
Yes
 to this question when the return meets the qualifications to file a Vermont return with a filing status of
Married filing separate
 when the federal return is
Married filing joint
.
Filing status optimization may be used to create the
Married filing separate
 return to prepare the Vermont return. In that situation, for paper filed returns, the state requires attachment of both the recomputed married filing separate federal return and the actually filed married filing joint return. The federal return actually filed needs to be printed from the UltraTax client used to prepare the federal return.
General footnote
If desired, enter a footnote in the statement dialog. This is a statement that may be printed and attached to the return for informational purposes. The general footnote appears as a separate item in each collation.

Use Tax

Calculate use tax using the reporting table
When you mark this field, use tax calculates by using the use tax table based on the taxpayers income.
Total of all purchases for items that cost less than a $1,000
Enter the total amount of out-of-state purchases that cost less than $1,000 per item. UltraTax CS calculates the use tax by multiplying the amount entered, by the effective tax rate on taxable items purchased on which no sales tax was paid.
Total for all purchases for items that cost a $1,000 or more
Enter the total amount of out-of-state purchases that cost a $1,000 or more per item. UltraTax CS calculates the use tax by multiplying the amount entered, by the effective tax rate on taxable items purchased on which no sales tax was paid.

Contributions

UltraTax CS uses the information in this section to complete the contribution portion of Form IN-111.

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