Virginia State Unemployment adjustment clarified.

[Possi]

I just called Richmond for this:

Go to VA form 760 line 2 (Additions from ADJ Line 3)

Use Line 2B of the VA ADJ to report the amount of unemployment that will be added back to the VA AGI.

There will NOT be a "code" in the box, but that's ok, they will know what it is.

This is to clarify the way of implementing this last tax bulletin:

3/25/21 - Virginia does not yet conform to the American Rescue Plan Act because our date of conformity is December 31, 2020. For Virginia tax returns, tax preparation software should utilize the Virginia Fixed Date Conformity (FDC) addition for the amount of unemployment excluded for federal purposes and then allow taxpayers to claim the Virginia subtraction (Code 37) for the full amount of unemployment that is excluded for federal purposes (which would be equal to or greater than the amount excluded for federal purposes, depending on the amount of unemployment received by the individual).  

 

[Possi]

22 minutes ago, Possi said:

I just called Richmond for this:

Go to VA form 760 line 2 (Additions from ADJ Line 3)

Use Line 2B of the VA ADJ to report the amount of unemployment that will be added back to the VA AGI.

There will NOT be a "code" in the box, but that's ok, they will know what it is.

This is to clarify the way of implementing this last tax bulletin:

3/25/21 - Virginia does not yet conform to the American Rescue Plan Act because our date of conformity is December 31, 2020. For Virginia tax returns, tax preparation software should utilize the Virginia Fixed Date Conformity (FDC) addition for the amount of unemployment excluded for federal purposes and then allow taxpayers to claim the Virginia subtraction (Code 37) for the full amount of unemployment that is excluded for federal purposes (which would be equal to or greater than the amount excluded for federal purposes, depending on the amount of unemployment received by the individual).  

 

TOO LATE TO EDIT;

You must use code 99 in box 2B of the 760ADJ.

 

[Hahn1040]

Thank you!

I have a whole stack of these waiting for this info!

[Hahn1040]

I opened ATX and it is NOW making the adjustment on its own! 

It even has its own line on the FDC worksheet!

[Possi]

12 minutes ago, Hahn1040 said:

I opened ATX and it is NOW making the adjustment on its own! 

It even has its own line on the FDC worksheet!

Wow! They are on it! Not so much with TWise.

[Possi]

UPDATE; 

Use code 99 on line 2A of the VA 760-ADJ.