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Level 4
posted Feb 20, 2024 5:14:40 AM

VA 502ADJ

I have amended my 502 because of the ERTC receipt. Everything seemed to transfer from the federal 1120S to the state 502 form. There is also a necessary 502ADJ form but no information transferred to that form. Wondering if it is because there is no refund or taxes due with this form for an S corp? Or should something be entered because of the changes on 1120S due to ERTC?  Just seems odd to require a totally blank form.

0 2 652
2 Replies
Expert Alumni
Feb 28, 2024 8:46:34 AM

The 502ADJ is required because of section D related to an amended return.  However, because this is an S-Corp return, there were no taxes due or adjustments to the taxes.  So, while it is weird to require  a blank form, sometimes both taxes and Virginia are weird.

 

@Countingcat 

Level 4
Feb 28, 2024 1:31:18 PM

Thanks. I second the weird.