Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Jan 31, 2022 11:38:05 AM

Virginia subtraction for federal obligations not working

Entering amount of federal obligations in dividend income shows up correctly in box 1a for the reporting entity 1099, but does not carry over to line 7 of form 760.  Why isn't it?

0 2 299
2 Replies
Level 2
Feb 1, 2022 12:07:50 PM

Is this a known issue?  Seems like a bug to me.

Level 2
Feb 2, 2022 10:21:21 AM

Resolved with support that the entries for US government obligations interest that should be subtracted on VA 760 are not flowing through from the federal dividend entries as they should.  

Workaround:  Go to forms view and enter the total amount of subtractions directly on Virginia Schedule ADJ, line 4.