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Returning Member
posted Feb 27, 2021 8:49:22 AM

Virginia State Tax Calculation

The tax calculation for Virginia computed my Tax Amount as  0.00 for a Taxable Income of 4424.00, when it should have been 102.72, according  to the state's instructions. 

0 5 1066
5 Replies
Expert Alumni
Feb 28, 2021 6:55:24 PM

TurboTax is correct. Your Virginia tax amount on $4,424 is $0.

 

Assuming you are single, VA gives you a standard deduction of $4,500 and a personal exemption of $930, resulting in VA taxable income of -$1,086.

 

$4,424 - $4,500 - $930 = -$1,086

 

Check Form VA760CG lines 9 through 16

 

TurboTax is backed by a 100 Accurate Calculation Guarantee. In plain English, if you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest.

Returning Member
Mar 1, 2021 9:12:30 AM

Turbo Tax is not correct.

 

Line 9 - Adj Gross Income         20668

Line 11 - Standard Deduction    9000   (married filing jointly)

Line  12 - Exemptions                  3460   (2: 65 and over)

Line   13 - Deductions                   3784   (529 and LTC)

Line   14  -Subtotal                       16244

Line   15  - Taxable Income           4424

Line    16  - Tax Amount                 TurboTax says zero.

                                                           Per  VA760 instructions  tax table on page 33:  103.00

There is only one tax table, regardless of filing status

 

 

Employee Tax Expert
Mar 1, 2021 9:45:24 AM

Thank you for sharing the additional information.  If you would be willing to share a diagnostic copy of your tax file, it could be helpful to examine the situation in more detail.  

 

To do so, follow the instructions below and post the token number along with which version of TurboTax you are using in a follow-up thread.

 

Use these steps if you are using TurboTax Online:

  • Sign in to your account and be sure you are in your tax return.
  • Select Tax Tools in the menu to the left.
  • Select Tools.
  • Select Share my file with agent.
  • A pop-up message will appear, select OK to send the sanitized diagnostic copy to us.
  • Post the token number here. 

If you are using a CD/downloaded version of TurboTax, use these steps:

  • Select Online at the top of the screen
  • Select Send Tax File to Agent.
  • Click OK.
  • Post the token number here.

Returning Member
Mar 1, 2021 10:05:02 AM

Token # 764435

Employee Tax Expert
Mar 15, 2021 11:25:32 AM

Thanks again for sharing your information.  After checking into the situation further, your Virginia income tax is zero because your Virginia taxable income is below the filing threshold for the Married Filing Joint filing status.  The tax calculation is correct.

 

To learn more, see the following information from the Virginia Tax website:  Who Must File

 

@JohnStephenMunro