Virginia 520A

[Prasan]

First time using Turbo Tax business. Federal filing went fine. While doing Virginia state taxes, TT is stuck asking question for 502A Apportionment method. 

Background for LLC for 2022:

-5 people LLC (only 2 lives in VA)

-LLC supposed to invest in another company who supposed to purchases apartment complex in Houston, TX. We send the money to that company, but the deal didn't go thru last year. So, no income and no K1 from them. Only income LLC had was from Bank interest. However, other expenses (e.g. opening LLC cost, bank fees to wire money etc.) offsets bank interest plus some loss (about $80 loss for LLC). 

Which box to check for 502A Apportionment Method? and also what to fill out if any box ? If I select "No entry" box, TT keeps going back and asking and not letting me file without selecting any entry in 502A-Section A. Not sure which entry I should select for 502A Section A?

Any help will be appreciated. Thanks

[PatriciaV · Accepted solution]

If Form 502A (Apportionment) does not apply, it's not required to file and you can delete the form from your return as follows:

1. Open your return and click the Forms icon in the TurboTax header.
2. Select 502A on the left-hand side to open the form in the large window.
3. Click Delete at the bottom of the form.
4. Click Step-by-Step to return to the main screens.
5. Complete the Virginia interview and e-file.

For more info, see page 5 of Virginia Instructions for Form 502.

[Prasan]

Thank you PatriciaV. This worked!

Wouldn't be better for TT to figure it out that apportionment doesn't apply ? Since, I picked "no entry" in apportionment method...