Amending a 2009 Vermont Return: Household Income and Business Filers

If your 2009 federal Form 1040 included more than one business of the same type, and one of those businesses showed a loss, the amount of your Vermont Household Income could be wrong. If it is, your Renter Rebate or your Property Tax Adjustment claim could be incorrect.

Renter Rebate

Here's how to tell if you are affected:

• Your Vermont Form In-111, line 31d (Renter Rebate) has an amount greater than zero, and
• You reported business income/loss from more than one business in a single category of the following three business categories (Schedule C, Schedule E Rentals, and one category that includes one of the following: Schedule F Farm, and Schedule K-1 Partnerships/S Corporations); and,
• At least one of the businesses in the category showed a loss

If this situation applies to you, please see these instructions here.

Property Tax Adjustment

Here's how to tell if you are affected:

• You received a property tax adjustment based on the filing of Vermont's Form HS-122 (Homestead Declaration and Property Tax Adjustment), and
• You reported business income/loss from one or more businesses in a single category of the following three business categories (Schedule C, Schedule E Rentals, or a category that includes Schedule F Farm, and Schedule K-1 Partnerships/S Corporations), and
• At least one of the businesses in the category showed a loss

If this situation applies to you, please see these instructions here.

1. Open your 2009 TurboTax product.
2. Open your tax return file (.tax2009) and select File > Save As to save it under a different name (ex: smith_amended, etc.).
3. Select the State Taxes tab.
4. Click Continue twice.
5. On the Your State Returns screen, select Edit next to 2009 Vermont.
6. In the upper right-hand corner of TurboTax, select Show Topic List.
7. Scroll down and select Vermont, then State Interview, then Additional Forms.
8. Check the Amended Return (Form 111) box and select Continue.
9. Indicate that you need to amend your 2009 return and select Continue.
10. Select Continue on the Amend Return Instructions screen.
11. In the upper right-hand corner of TurboTax, select Show Topic List.
12. In the Topic List, scroll down to Vermont/ State Interview/ Taxes and Credits/ Tax Credits and select the Homeowner and Renter Rebate Credit.
13. Select Yes on the About Your Household Income screen.
14. Continue through the screens and answer as applicable to your situation. Continue until you see the Household Income screen with Business Income.
15. If there is a gain (positive number) in one of the three fields, increase that amount by the amount of loss from the related business in the same field.
    • For example, if one business in Business Income had income of $30,000 and the other business had a loss of $5,000, then the total on this screen is $25,000.
    • To correct the amount for the purpose of completing the Household Income form only (and not your state tax return), add back the $5,000 loss to the $25,000 and change the amount to $30,000.
    • Note: You will need to obtain this data from your Federal Schedule C's.
16. Select the File tab. Then select Print/Save for your records and then Print Returns.
17. Select All official forms required for filing.
18. Be sure to uncheck Form 1040: Individual.
19. Select Vermont individual and Print. The necessary forms to mail to Vermont will be printed.
20. NOTE: The Balance Due/Refund section of the filing instructions shows the new refund/balance due amount on the amended Vermont form.
21. This is NOT the amount that you will receive or need to pay. Go to the next step.
22. Review the printed Form IN-111, page 2, For Amended Returns Only section. It will show if you will receive a balance due on the Amount due now line or a refund (see Refund due now line).
23. If you owe, there will be a printed out Income Tax Payment Voucher – Form IN-116 that shows the amount due. Write a check for that amount and mail it with the amended Vermont return. Amended returns must be mailed. They cannot be e-filed. Make check payable to Vermont Department of Taxes.
24. Mail to:
    • Vermont Department of Taxes
    • P.O. Box 1881
    • Montpelier, VT 05601-1881.

1. Open the TurboTax product.
2. Save this file as a different file name.
3. Select the State Taxes tab and click Continue
4. On the Your State Returns screen, select the Edit button next to 2009 Vermont.
5. If you filed a Form HS-122 (Homestead Declaration and Property Tax Adjustment Claim) please follow these steps:
   • Select Show Topic List.
   • In the Topic List, scroll down to Vermont/ State Interview/ Taxes and Credits/ Tax Credits and select Homeowner and Renter Rebate Credit.
   • Answer the question on the About Your Household Income screen.
   • Continue through the screens until you see the Household Income screen with Business Income.
   • If there is a gain (a positive number) in one of the three fields, increase that amount by the amount of loss from the related business in the same field. For example, if one business in Business Income had income of $30,000 and the other business had a loss of $5,000, then the total on this screen is $25,000. To correct the amount for the purpose of completing the Household Income form only (and not your state tax return) add back the $5,000 loss to the $25,000 and change the amount to $30,000.
   • Select File, then Print.
   • Indicate Specific Forms.
   • If you filed Form HS-122 (Homestead Declaration), check Form HI-144 and Form HS-122.
   • Select Print.
   • Mark the top of both forms: "AMENDED."
   • Mail both forms to:
     • VT Department of Taxes
     • PO Box 1881
     • Montpelier, VT 05601-1881

NOTE: You do NOT need to amend your Vermont tax return.