If the taxpayer's federal return includes any gain or loss on the sale or transfer of a Land Preservation Tax Credit:
- the loss must be added back to the VA return
- the gain must be subtracted on the VA return
Where do I report this in my account?
To add the loss the VA return, make an entry into the:
- State Section
- Additions to Income
- Other Additions
- Add Other Additions
- Select Other Additions and enter amount
To subtract the gain from the VA return, make an entry in the:
- State Section
- Subtractions From Income
- Other Subtractions
- Add other Subtractions
- Gains from Land Preservation (from drop-down menu)