The short answer is yes. The long answer comes from https://www.tax.virginia.gov/subtractions#long-term-capital
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Income taxed as a long-term capital gain, or any income taxed as
investment services partnership income for federal tax purposes is
allowed as a subtraction provided the income is attributable to an
investment in a "qualified business" as defined in Va. Code § 58.1-339.4
or in any other technology business approved by the Secretary of
Technology. Qualified businesses include those related to advanced
computing, advanced materials, advanced manufacturing, agricultural
technologies, biotechnology, electronic device technology, energy,
environmental technology, medical device technology, nanotechnology, or
any similar technology related field. The business must have its
principal facility in Virginia and less than $3 million in annual
revenues for the fiscal year preceding the investment. The investment
must be made between the dates of April 1, 2010, and June 30, 2020.
Taxpayers claiming the Qualified Equity and Subordinated Debt Credit
cannot claim this subtraction relating to investments in the same
business. In addition, no investment is "qualified" for this deduction
if the business performs research in Virginia on human embryonic stem
cells.
Do this relate to the 1099 summary of proceeds gains and losses
I'll review the responses I gave because I see doesn't apply to my situation, We are a retired couple and have no businesses just investments for retirement and a trust account with less than half a million
Mario,
In your case, you are not invested in such a qualified venture and your capital gains are taxed just the same as any other income by VA. It's not clear how you or last year's poster got down in that particular esoteric tax rabbit hole, but just go back and say No to that question and what led up to it.