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State tax filing
Although the instructions for Virginia Form 502 PTET Section 1 Line 1 indicate that you may enter a loss (negative number), Section 2 should result in zero tax (negative number multiplied by 5.75% tax rate for 2022). TurboTax will calculate this number for you. Please use Forms Mode to verify the calculation is correct in Section 2. Overriding any calculated number will prevent you from efiling your return.
Note that Form 502 PTET will be available for efiling on 1/27/2023 (see this table).
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‎January 26, 2023
5:58 AM