Question

Virginia Schedule ADJ

Forum|Forum|1 year ago
March 17, 2025
1 reply
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How can I see the source information for Virginia Schedule ADJ Line 1 (additions to income) and Line 4 (Subtractions from income)? Double-clicking or right-clicking the cells doesn't do anything. For both of these calculations, I cannot duplicate the calculated values from my various 1099s. Thanks.

Technical Help

baldietax

Hi I've not found an easy way to do this. I keep track offline of all the expected additions (usually out of state munis) and subtractions (usually Treasuries) and it usually doesn't tie out on state first time, the only thing you can really do is go back thru the 1099s driving these entries to make sure everything is entered correctly in particular any adjustments (see below for 1099-INT). Schedule B worksheet in Forms mode has some summary grids for INT/DIV box 3/8/11 etc which at least show the details but no subtotals (from what I know on TT desktop; not sure TT online equivalent but maybe in the return PDF with 'all forms and worksheets')

Be aware if you hold individual bonds consolidated on 1099-INT with multiple income boxes (e.g. both Treasuries in Box 3 and Munis in Box 8 plus some bank interest in Box 1), and you need to make adjustments for accrued interest or premium on the bonds, then you need to split up the 1099-INT as TT cannot specify which income box the adjustment applies to and will pro-rata it across the boxes. I usually break out VA exempt munis from VA taxable munis for the same reason. See this recent post for more details/advice on to handle this

https://ttlc.intuit.com/community/taxes/discussion/how-do-i-adjust-interest-reported-on-1099-int-accrued-interest-for-both-interest-from-govt-bonds-and/00/3574158

P

pgedelsteinAuthor

Thanks, I'll explore. You'd think TT would have a means for showing the calculation asit does for some other form entries. But there I go thinking again.

LenaH

Line 1 & 4 of Schedule ADJ come from the following sources:

LINE 1: From federal Schedule B, box 8, amounts entered as tax-exempt interest with a State ID other than VA; from Schedule B, OID Interest Income Smart Worksheet, Box 1 and Box 2 if type is E and State ID other than VA or blank; from Schedule B, Exempt-Interest Dividend Smart Worksheet, amounts with a State ID other than VA or blank; and from Schedule K-1 Worksheets for Partnerships, Corporations and Estates, Tax-Exempt Interest Income with a State Name other than VA.
LINE 4 : From federal Schedule B, Box 3, US Savings/Treasury Obligations plus OID Interest Income Smart Worksheet, Box 6, OID on US Treasury Obligations plus federal 1099-DIV Worksheet, Box 1a, U.S. Government Interest less related adjustments.

@pgedelstein

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