FDC Worksheet - Fixed Date Conformity Modications to Itemized Deductions
Complete the FDC Worksheet before completing Virginia Schedule A. Enter the information requested on each line. On the Virginia Schedule A, Medical and Dental
Expenses (Line 4), Gifts to Charity (Line 14), and Casualty and Theft Loss (Line 15) may require modication due to xed date conformity adjustments. These
amounts should be recomputed by substituting the amount on Line 5 of this worksheet for the FAGI that you used to compute your federal limitations. Also use the
amount on Line 5 of this worksheet instead of Line 1 from Forms 760, 760PY, and 763 when computing Virginia Schedule A, Line 17.
1. Federal Adjusted Gross Income (FAGI) from federal return
.........................................................
1
.00
2. Fixed date conformity additions to FAGI ......................................................................................
2
.00
3. Subtotal. Add Lines 1 and 2..........................................................................................................
3
.00
4. Fixed date conformity subtractions from FAGI
............................................................................
4
.00
5. Fixed date conformity FAGI. Subtract Line 4 from Line 3
.............................................................
5
.00
LIMITED ITEMIZED DEDUCTION WORKSHEET
Part A – Compute Your Itemized Deduction Limitation
Complete this worksheet after completing Lines 1-16 of the Virginia Schedule A.
All taxpayers must complete Lines 1-11 of this worksheet as though they were residents of Virginia for the entire taxable year.
1. Enter the total amount from Virginia Schedule A, Lines 4, 5a (not to exceed $10,000 or $5,000 if married ling
separately), 5b, 5c, 6, 10, 14, 15, and 16c
..................................................................................................................................
1.
.00
2. Enter the total amount from Virginia Schedule A, Lines 4, 9, and 15, plus any gambling losses included on Line 16a
2.
.00
3. Subtract Line 2 from Line 1. If the result is zero or less, the limitation does not apply. Stop here and follow the
instructions for Line 17 of Virginia Schedule A.
..........................................................................................................................
3.
.00
4. Multiply Line 3 above by 80% (0.80).
............................................................................................................................................
4.
.00
5. Enter the total from Line 1 of Form 760, Form 760PY, or Line 763 (or amount from Line 5 of FDC Worksheet).
..........
5.
.00
6. Enter $326,050 if ling jointly or qualifying widow(er), $298,850 if head of household, $271,700 if single, or $163,025
if married ling a separate return
...................................................................................................................................................
6.
.00
7. Subtract Line 6 from Line 5. If the result is zero or less, stop here, the limitation does not apply. Stop here and follow
the instructions for Line 17 of Virginia Schedule A.
....................................................................................................................
7.
.00
8. Multiply Line 7 above by 3% (0.03).
..............................................................................................................................................
8.
.00
9. Enter the smaller of Line 4 or Line 8.
............................................................................................................................................
9.
.00
10. Enter the amount from Line 3 above.
............................................................................................................................................
10.
.00
11. Divide Line 9 by Line 10. Enter the result to 3 decimal places.
................................................................................................
11.
12. Limited Itemized Deduction Total
12a.
Resident (Form 760) and Nonresident (Form 763) lers
Subtract Line 9 from Line 1 and enter here and on Virginia Schedule A , Line 17. Continue to Part B of the
worksheet. ...........................................................................................................................................................................
12a.
.00
12b. Part-Year Resident (Form 760PY) lers
Enter only the itemized deductions paid while a Virginia resident on Virginia Schedule A. Use the steps
below to compute the amount to enter on Line 17 of Virginia Schedule A if you are subject to the itemized
deduction limitation.
.00
1) Enter the total amount from Virginia Schedule A Lines 4, 5a (not to exceed
$10,000 or $5,000 if married filing separately), 5b, 5c, 6, 10, 14, 15, and 16c.
1
2) Multiply the total amount from Virginia Schedule A, Lines 5a (not to exceed
$10,000 or $5,000 if married filing separately), 5b, 5c, 6, 8e, 14, and 16c
(minus any gambling losses reported on Line 16a) by Line 11. ........................ 2 .00
3) Subtract Line 2 from Line 1. Enter here and on Virginia Schedule A, Line 17. ..................................................
12b.
.00
Part B – Compute Your State and Local Income Tax Modication
13. Enter the state and local income tax from Virginia Schedule A, Line 5a (not to exceed $10,000 or $5,000 if married
ling separately). Part year residents enter only the amount paid while a Virginia resident.. .............................................
13.
.00
14. Multiply Line 13 by Line 11.
.............................................................................................................................................................
14.
.00
15. Subtract Line 14 from Line 13. Enter here and on Virginia Schedule A, Line 18.
.................................................................
15.
.00
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