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In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
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Virginia 2020 Income Tax Returns
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Donald Lawton
Level 1
03-20-2021
11:31 AM
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So...... as of today (3/20/2021) we still cannot file Virginia returns IF:
1. Individual client received unemployment (Lacerte is not handling correctly on Virgina Schedule ADJ/CG (Lacerte deducting all of the unemployment even if reduced on Federal return by $10,200 and in some cases Virginia AGI (Line 1) does not match Federal AGI by the unemployment reduction amount.
2. Client deducted $300 charitable contributions on Line 10b of Federal return, but Lacerte is adding it back on Virginia Schedule ADJ/CG (even though Virginia is now in conformity with this).
3. Virginia is still adding back the full amount of PPP/Rebuild America forgiveness (recognized on Federal return as non-taxable) even though Virginia conformity exempts up to $100,000 of PPP/EIDL forgiveness.
I may have to use TURBOTAX to process all of my Virginia returns?
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