TP has qualified for a VA tax credit tied to a charitable contribution. In the past, we had to adjust the Sche A deduction taken on the federal return to remove the charitable deduction on the state return if a state tax credit was taken for the same item. In other words, no double-dipping. I am trying to find out if that requirement is still in effect. I found one reference on www.vhcf.org which says "Individual donors are no longer restricted from claiming a Federal deduction for donations for which they have received a Virginia State income tax credit." I am unable to find any other source information. Is this correct? And if so, when did it change?
Announcement
Collapse
No announcement yet.
VA Tax Credit for Charitable Donation
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.