sagemgt
New Member

State tax filing

The answer given by Intuit is very clear: qualified small business (revenues less than $3 MM annually), located (headquarters) in Virginia and a specific time that is from (note) 2010 to 2015 for the actual investment. The investment is likely in a private company, not one publicly listed one on the major exchanges (a penny stock, perhaps) and very likely not any mutual fund. As a tax preparer (Enrolled Agent), I have not seen an investment example in 5 years of preparing VA state taxes, i.e., getting this capital gain subtraction is a rare event  for most taxpayers.