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BobMButler
Returning Member

Difference between the amount of taxes owed between the turbo tax screen and the printed state of Virginia paper return

I had to amend my federal tax return due to incorrect entries under short and long term capital gains amounts.  When I completed the changes under the amend section of turbo tax the Virginia tax due changed from the previous incorrect reading to $1,319.  This amount was also reflected on the turbo tax instruction sheet that accompanied the printed version of the state tax return.  When I printed the state tax return in preparation for mailing it in the amount listed on the actual tax return is only $867.  What has gone wrong in that the amount the computer program specifies is not the amount that the printed tax return form shows? 

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2 Replies
BillM223
Expert Alumni

Difference between the amount of taxes owed between the turbo tax screen and the printed state of Virginia paper return

So, are you amending the Virginia return, too?

 

"$1,319." Is this the correct amount for the amended return? But it's the correct amount for what? 

 

Virginia form 760 is used for both the original return and the amended return. But there is obviously a conflict between what the amended return shows and what you actually owe or deserve as a refund.

 

Why? The amended form 760 shows the return as if you had originally filed it this way. However, form 760 does not have a way to factor in the refund or payment made with the original return. So what you actually owe or get as a refund will not be what is on the return, once the original payment or refund is factored in.

 

Instead, please go look at the worksheet on page 5 of the Virginia tax booklet.

 

Is it possible that this worksheet explains the difference you are seeing?

 

If this is the case, the problem lies with the design of Virginia's form 760, not with TurboTax (notice that the federal return has a separate form for amended returns - the 1040-X - so this confusion is reduced).

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BobMButler
Returning Member

Difference between the amount of taxes owed between the turbo tax screen and the printed state of Virginia paper return

When I initially filed out my federal tax return for 2021, and before I was finished, I experienced a power outage.  When power returned I just continued with the return and the final reviews of the returns said all was OK.  Somehow, either due to the power outage or just clumsiness on my part in entering the data my original returns were submitted with me receiving $5,356 from the federal government and $452 from the state of Virginia.  Both returns were accepted by both federal and state tax organizations.  When I was filling out a non related form regarding my taxes I noticed an extremely large negative number on line 15 of of schedule D.  Upon further checking I noticed incorrect entries for both short and long term capital gains.  When Turbo Tax updated the amended return section of the program I immediately entered all of the corrected information for my federal return.  Both my federal and state refunds disappeared and I now owe the federal government  $4,848 and the State of Virginia $1,319.  When I completed the amended return and submitted the federal part of it - I understand that I will have to mail the amended state tax forms - the $1,319 that I owe the state in the Turbo tax program became $867.  Thank you for explaining to me that the state return subtracted the original $452 refund from the correct $1,319 amount that I owe the state  and has arrived at the $867 amount shown on the "amended" state tax form that I am supposed to now submit.  The only difficulty that I have now is that I never received the $452 that was subtracted from the $1,319 and was never entitled to it.  Can you please provide some guidance about what I need to do to remedy this situation - send a check for $1,319 which I believe is the correct amount, regardless of what the Virginia State Tax form says or do something else - manually correct the tax form to the correct amount, enclose a letter of explanation, some other alternative?  I have used Turbo Tax for many years and I am not familiar with how state tax forms are filled out manually.  Any assistance that you can provide would be greatly appreciated.  Thank you

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