Screen VACr - Virginia Credits (1040)

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Overview

Use this screen for current-year credit information, to complete Schedule CR.

Nonrefundable

Qualifying costs
Enter the amount of qualifying costs or expenditures for the applicable credit in these fields. UltraTax/1040-VA applies the annual limit for each credit.
Allowable credit
Enter the amount of the credit allowable or authorized in these fields.
Transferred to Others
Enter the amount of the credit, if any, that has been transferred to others in these fields. The current year credit used and credit available to carryover to future years is reduced by the amount transferred to others.

Refundable

Coalfield employment enhancement
Enter the amounts from Form 306D.
note
Form 306D is required to be included with the return. If not included, the credit will be denied.
Motion picture production / ... / Conservation tillage and precision agriculture equipment
Enter the amount of credit authorized by the Commonwealth of Virginia.
Pass-through entity elective tax credit (Force)
Use this field to enter an amount that is different from what is expected on Schedule CR.
If the pass-through entity elective tax credit amount was entered on fed screen K1-4, the amount will transfer to the VAOthWH screen, which in turn transfers to Schedule CR.

Nonrefundable Credits Adjustment

Trust accumulation beneficiary distribution
Use this field if claiming the credit to trust beneficiary receiving accumulation distribution. This increases the total nonrefundable credits amount on Schedule CR.

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