topic Adjust Vermont state AGI in State tax filing

Adjust Vermont state AGI

kenp47 — Mon, 09 Mar 2026 13:27:55 GMT

I have a net operating loss on my Federal return due to a declared disaster. This was disallowed by Vermont on a previous return. How can I make an adjustment to Vermont income? Turbotax uses the AGI from my Federal return but that amount includes the NOS carryover.

Thanks,

Ken

Re: Adjust Vermont state AGI

DMarkM1 — Sun, 03 Apr 2022 20:18:26 GMT

You may need to clarify what was disallowed and what reason was provided. VT does allow a negative Federal Adjusted Gross income and negative modifications and negative Federal Adjusted Gross Income with modifications. Here are the VT form instructions (see page 10).

I haven't found anything in the VT instructions that disallows a NOL included in the federal adjusted gross income.

Re: Adjust Vermont state AGI

kenp47 — Wed, 06 Apr 2022 13:42:14 GMT

The loss was due to hurricane Florence. You can take a loss on your Federal return however you can not take this loss on Vermont return. There seams to be know method available to make this adjustment in Turbotax. The only solution I see is to create two Turbotax files, delete the NOL in the second file and file Federal tax from the first file and Vermont tax from the second. Your Vermont program includes a $5000 deduction from Federal AGI but it is fixed and unable to be changed.