760c line 3 prior year tax liability must be enter, What line is this on my 760PY?

[KathrynG3]

Yes, you can find this prior year tax liability for line 3 by getting a copy of your 2018 Form 760, and going to page 2, line 18. 

To find 2018 returns in TurboTax: How do I access a prior year return?

2019 Virginia Form 760C Instructions Underpayment of Virginia Estimated Tax by Individuals, Estates and Trusts

2019 Virginia Form 760 Instructions Resident Individual Income Tax Booklet

@natyclementi

[natyclementi]

I have a 760PY not a 760, is that the same line? 
When I read the instructions on 760C form, there is no explanation for line 3. 

[ColeenD3]

Is it asking due to a penalty? The PY form does not list that line. Please see this LINK.

@natyclementi

[natyclementi]

I'm not sure if it's for penalty or what. It was prompted as:
"760c line 3 prior year tax liability must be enter", which reading from the previous post of @KathrynG3 it seems that I need to enter what is on line 18 of form 760 (Net amount of tax). But I do have a 760PY since I live only a part of the year, Would the line 19 (Total tax) on form 760PY be the equivalent?

[KathrynG3 · Accepted solution]

Yes, you are correct. You are looking for the total tax charged from Virginia for the year, not what was withheld. 2018 Form 760PY shows Total Tax on line 19.

@natyclementi

[reyannasimpson]

Its line 9 form 2019 760 form

[JohnW152]

On your 2019 return, this would be line 18 (Net Amount of Tax) minus the sum of lines 23 - 25. 

Estimated tax payments, income tax withheld and extension payments are not considered tax credits.

For line 3 of your 2020 Form 760c, you need to enter the 2019 Income Tax Liability After Spouse Tax Adjustment and Tax Credits.

If you'll look at your 2019 Form 760c, the Spouse Tax Adjustment is shown on line 17.

The Net Amount of Tax, after the Spouse Tax Adjustment, is shown on line 18.

Line 9 of the 2019 Form 760 is Virginia Adjusted Gross Income.

[Maryann141]

760c line 3 prior year tax entry. I have info on lines 1 & 2 for 2019 but not lines 17 or 18.  What should be entered?

[Cynthiad66]

After completing the Exception 2 worksheet, enter the results in the appropriate columns on Line 17. Compare the amounts in each column to the amounts in the corresponding columns on Line 15. If the amount in any column on Line 15 equals or exceeds the amount in the corresponding column on Line 17, you have met the exception for that period. If you have not met an exception for every period in which you computed an underpayment, proceed to Exception 3.

Line 18 - Exception 3: Tax on Annualized 2006 Income - This exception applies if your 2006 payments on Line 15 equal or exceed 90% of the tax for each installment period computed on annualized income. "Annualized Income" means the actual income received for the fi rst four, fi ve and eight months of the taxable year (three, four and seven months for estates & trusts), multiplied by the factors shown above Line 18 to arrive at the amount that would have been your taxable income if your income had remained constant during the year.

See Instruction in the attached Link: - Instructions for Form 760c

[ELSCPA]

Hello,

For a first year VA resident (in this case a part year resident having moved from DC in 2024) how should line 3 on 760C be completed. Some states only allow an amount if a full year return was filed for the prior years. Can we use -0- since there was no VA return in 2023?

Thank you very much!