760c line 3, how do i find out what to fill it in with?

[BMcCalpin]

If you are asking about line 3 on the Virginia 760C for 2017, it consists of "2016 Income Tax Liability After Spouse Tax Adjustment and Tax Credits". 

On your 2016 form 760, this would be line 19 minus the sum of lines 24-27.

If you can't find the information elsewhere (no copy of your 2016 VA return?), you can get the information from the State of Virginia.

All you probably need is a transcript (it lists line numbers, descriptions, and dollar amounts, but in a line printer format, not on tax forms).

See https://www.tax.virginia.gov/request-copy-tax-return

[paynejordan98]

So I got impatient and entered a 0 since I'm not married...is that bad?

[BMcCalpin]

The form is trying to figure out if you underpaid Virginia estimated tax. Your zero probably prevented that - which may not have been right.

If you have already filed, do the following:
1. save a PDF copy of your tax return
2. go back into TurboTax as if you were going to amend (don't worry, it won't amend unless you print and mail it)
3. Add the correct number for line 3 on the 760C
4. If the tax due or the refund doesn't change, then forget about it - otherwise you need to finish the amendment process and mail it to the state.

Note: if you save the amended numbers that you enter, then that should carry over to next year.

[coo5024]

What if I did not have a 2016 tax return for the state of Virginia because I was living in another state and did not pay taxes to Virginia?

[coo5024]

What if I did not have a 2016 tax return for the state of Virginia because I was living in another state and did not pay taxes to Virginia?

[franmella]

Did you ever find out the answer to this question?

Thanks

[pegues]

I don't recall doing this last year. Has this been figured out for Line 3?

[KarenM90]

Form 760C, Line 3 is asking for your 2018 Income tax Liability.  It is possible that this question generated because you had an amount due on your Virginia tax return, as it is calculating an underpayment.

Line 3 is asking for the amount on line 19 from your 2018 Virginia Form No 760.  (This amount represents your 2018 Tax Liability to the State of Virginia)

[DougMH5245]

I believe the amount you speak of is either line 27 (owed) or 28 (overpayment). If there was a overpayment it seems to me line 3 on the 760C should be line 28 from the 760 for the money you got back. If you owed money on line 27, the number on line 3 of 760C should be 0.

I could be wrong, but it would be nice if an expert could give a 100% definitive answer.

[AmyC]

No, Renee is correct. Line 18 of the form 760 is your net amount of tax. Your enter the amount of total tax liability from the prior year into the the 760C line 3.

[Tmark90]

How do I find 760c line 3 information on my tax transcript?

[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.

[Tmark90]

On my tax transcript the lines are not numbered. Is there a certain section do I need to look at to find it so I can put it in turbo tax?

[JohnW152]

@Tmark90

The 2019 Virginia tax return, which can be found on the Virginia Forms page, isn’t divided into sections or parts, but all of these entries are on page 2 of the return.

On your transcript, see if you can identify what’s related to the entry that’s supposed to be made on each line. 

Line 18 says Net Amount of Tax – Subtract Line 17 from Line 16.

Line 23 says Tax Credit for Low-Income Individuals or Earned Income Credit from Sch. ADJ, Line 17.

Line 24 refers to Credit for Tax Paid to Another State from Schedule OSC, Line 21.

Line 25 refers to Credits from Schedule CR, Section 5, Part 1, Line 1A.

It’s possible that the transcript only shows lines that had entries.  If that’s the case, some of these references may not appear at all.