Virginia 2023 Tax return - Part Year Resident - Social security

Forum|Forum|2 years ago
February 17, 2024
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I am a part year resident of Virginia (move in during the year) and came from Florida (no state income tax return required). Neither state taxes Social Security.

TurboTax Virginia Tax return asks me to allocate the Federal amount of my Social Security benefits that I received while living in Virginia.

This amount is placed on Form 760PY Schedule of Income which then gets transferred to Form 760PY Virginia Part-Year Resident Income Tax Return Line 5 - which then gets subtracted from the total Federal amount of my adjusted Gross Income for Virginia tax return. This means the amount of my social security benefit that I received while living in Florida remains as part of my Virginia taxable income.

Am I missing something??????

Best answer by JamesG1

Virginia form 760PY allows for both parts of the taxable Social Security.

At the screen Part-Year Allocation in the Virginia state income tax return, you are asked to allocate the amount of taxable Social Security benefits.

Line 7 of Virginia form 760PY is Income attributable to your period of residence outside Virginia.... and would include the taxable portion of Social Security allocated to Florida.

This amount is added to the taxable portion of Social Security allocated to Virginia (line 5).

The sum is then subtracted from the Federal Adjusted Gross Income (line 1 of Virginia form 760PY and line 11 of the Federal 1040 tax return).

JamesG1Answer

Virginia form 760PY allows for both parts of the taxable Social Security.

At the screen Part-Year Allocation in the Virginia state income tax return, you are asked to allocate the amount of taxable Social Security benefits.

Line 7 of Virginia form 760PY is Income attributable to your period of residence outside Virginia.... and would include the taxable portion of Social Security allocated to Florida.

This amount is added to the taxable portion of Social Security allocated to Virginia (line 5).

The sum is then subtracted from the Federal Adjusted Gross Income (line 1 of Virginia form 760PY and line 11 of the Federal 1040 tax return).

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RM4901Author

to James G1: Thanks for your reply. I realized this exact think just a short time ago so your confirmation makes it clear. I guess the confusion for me was the Virginia 760PY asks for the specific amount of SS paid while in VA (line 5) and the specific amount of SS paid while in Florida was always lumped into 'all other income' received while in residence outside of VA - thus never seeing the exact amount of SS from Florida on the forms. BTW. I made 3 phones calls to Virginia gov tax help asking this exact question. I got 2 different answers and 1 representative hung up in frustration looking for the correct response.