Virginia 2010: Certain Customers With Section 179 May Have Incorrect Itemized Deductions
Updated: 6/16/2011
Article ID: SLN47820
The TurboTax product may not have calculated correctly the Virginia state itemized deduction amount for customers who claimed a Section 179 deduction on the federal Schedule A.
This issue has been fixed.
How to tell if you are impacted
You are affected if ALL of the following are true:
- You filed a Virginia state tax return prior to February 14, 2011, AND
- You claimed a Section 179 deduction on assets placed in service in 2010 on your federal Form 2106 (Employee Business Expenses) or Schedule A “Other Miscellaneous Deductions” section AND
- Your Virginia return has no bonus depreciation adjustment (Virginia Fixed Date Conformity Worksheet has no amount on Part II, line 5) AND
- The Virginia Fixed Date Conformity Worksheet has an amount on line 22.
If you are affected, you may have underpaid your Virginia taxes. If so, you will need to amend your Virginia state tax return.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about Virginia: Itemized Deductions.
Solutions
Let us do the work for you. We highly recommend this.
- Please download and print this Authorization Form.
- Complete the form and fax it to us at the number printed at the top of the form.
- A TurboTax representative will contact you (within 6 days) when your corrected return is ready to be securely emailed back to you.
- You can print, sign and mail the corrected return to Virginia.
Or you can make the corrections yourself. However, the amend process can be complex.
- To do it yourself, please follow these step-by-step instructions.
- After you make the changes to your tax return, you will need to mail a copy to Virginia.
- If you need assistance, call us at the phone number in the email.
