KYOUNG

Subtraction for Rebuild Virginia Grants

Under Virginia’s legislation, you can make an individual and corporate income tax subtraction up to $100,000 of all Rebuild Virginia Grants received during the 2020 tax year, as long as those grants were not otherwise subtracted from income. 

I found out this article on tax.virginia.gov/news. I reported VA rebuild grant as a other income on 1120S, then how can I subtract this grant on VA 502? Anyone filed regarding this issue?

23 minutes ago, KYOUNG said:

Federal exclusion automatically reduce AGI so PTC affected. Do I need to modify?

In VA, I think need to adjust amount on VA Sch ADJ but I don't know where.

Unemployment benefits received during the taxable year and included in federal adjusted gross income may be subtracted on the Virginia return. The amount of the subtraction is the amount of unemployment benefits that were included on your federal return. 

Do I need to override Subtraction Code 37 or Addition FEDERAL INCLUDES UCE -$10,200?

Federal exclusion automatically reduce AGI so PTC affected. Do I need to modify?

In VA, I think need to adjust amount on VA Sch ADJ but I don't know where.

Unemployment benefits received during the taxable year and included in federal adjusted gross income may be subtracted on the Virginia return. The amount of the subtraction is the amount of unemployment benefits that were included on your federal return. 

When I file VA 760-PY, keep rejecting with this message,

Virginia 1040-PY
The document ID VAEFINFO:59 could not be found in the submission.

Anyone has solution?

Thank you!