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New Member
posted Apr 2, 2020 7:13:18 AM

How do I enter the amount on my Virginia VK-1 line 14 in turbotax?

I got a Virginia VK-1 which has a value on Line 14 - Fixed date conformity -depreciation. I don't see where to enter that in turbotax.

0 4 767
4 Replies
Expert Alumni
Apr 2, 2020 8:13:58 AM

If your total 2019 Virginia depreciation calculation is less than your 2019 federal depreciation calculation, then the difference must be recognized as an addition.  You can enter the figure under Fixed Date Conformity Additions/Subtractions.  To do this please follow these steps:

  1. Go into your Virginia return and continue to the screen, Here's the income that Virginia handles differently.
  2. Under the Misc. section (last section), click the Start/Update box next to Other Fixed Date Conformity Additions.
  3. Enter the amount on the next screen, under Other Fixed Date Conformity additions.

Level 2
Apr 6, 2022 2:58:18 PM

I have the same situation as described. I am following the steps in the reply, but I see this message at the top of the page: "Enter any fixed date conformity subtraction adjustments for items, but not depreciation..."

 

Is there somewhere else in TurboTax to enter FDC for deprecation? Can I ignore that warning and enter it under other FDC subtractions?

New Member
Mar 19, 2023 6:15:30 AM

Same questions and Intuits answers seems strange??

 

VK-1 line 14 says

 

Virginia Subtractions - Owner's Share
14. Fixed date conformity - depreciation

 

So why are you instructions people to enter it as an FDC addition?  Second as previously asked with no reply TT explicitly says don't enter depreciation in the subtractions Other FDC box.   If not there then where, Additions Other FDC?

 

How is a subtraction an addition?  This is like some code an employee wrote calling an operator + and implementing it as "max!"

 

Expert Alumni
Mar 23, 2023 9:57:29 AM

You are correct in that if the total 2022 Virginia depreciation is more than 2022 federal depreciation, then the difference must be recognized as a subtraction.   Regarding your second question, enter your amount in the box for Other Fixed Date Conformity subtractions which can be found on the screen, Other Fixed Date Conformity Subtractions from Federal Income.  

 

Line 6a of VA Form 763 ADJ contains the amount for any fixed date conformity subtraction.  If you enter the amount at issue as referenced above, you should see on VA Form 763 ADJ, on line 6a, the fixed date conformity subtraction amount you entered.  

 

@clp7v