Virginia Form 760

What Is Virginia Tax Form 760?

Virginia Form 760, also known as Individual Income Tax Return is used to review and confirm the person’s tax return. Download Virginia Form 760 to fill out and send it to the Commissioner of Revenue or directly to the Department of Taxation.

What do I need Virginia form 760 for?

• To calculate your Virginia Adjusted Gross Income (VAGI).
• To calculate your state tax return.

How to Fill Out Virginia Resident Form 760?

The fillable form Virginia 760 is easy to complete.

1. Write your personal info:

• Your full name;
• Address details;
• Social Security Number;
• Specify filing status.

2. In the designated spaces, list the full name, social security number, and relationship of any dependents you will claim on your return.

3. Fill in Lines 7 through 15 with the required income information, including wages, interest, dividends, pensions, and more. Make sure to reference your W-2s, 1099s, and other documents while completing this section to ensure accuracy.

4. Complete Lines 16 through 21 to determine your total adjustments to income. This may include deductions for student loan interest, tuition expenses, or contributions to a Virginia College Savings Plan. Be sure to consult the instructions for Form 760 for a complete list of adjustments and their corresponding line numbers.

5. Subtract your total adjustments from Line 6 (total income) and enter the result on Line 22 to find your adjusted gross income (AGI).

6. Complete Lines 23 through 30 to determine your total deductions. This will include either the standard deduction or itemized deductions and deductions for exemptions, subtractions, or other applicable tax benefits.

7. Subtract your total deductions from your AGI (Line 22) and enter the result on Line 31. This will be your taxable income for Virginia tax purposes.

8. Follow the instructions provided on the form to determine the amount of tax due based on your taxable income. Enter the calculated amount on Line 32.

9. Enter the corresponding amounts on Lines 33 through 42 if you qualify for any tax credits. Consult the instructions for Form 760 to ensure you are claiming the correct credits and amounts.

10. Add the amounts on Lines 32 and 42 and enter the result on Line 43. This is your total tax liability for the year.

11. In Lines 44 through 48, enter any federal income tax withheld, estimated tax payments, and any other credits you may be entitled to. Consult the Form 760 instructions for more details about specific payment types.

12. If your total payments and withholding (Line 49) are more significant than your total tax liability (Line 43), enter the difference on Line 50a as an overpayment. If your total payments and withholding are less than your tax liability, enter the difference on Line 51 as a balance due.

13. If you have an overpayment, decide whether to receive a refund or apply the amount to your next year's estimated tax. Fill out your banking information to receive your refund via direct deposit. Determine your preferred payment method and follow the instructions if your balance is due.

14. Review the form to ensure all information is accurate and complete, then sign and date it at the bottom. If you are filing jointly, your spouse must also sign and date the form.

Organizations that work with 760 Virginia form

• Virginia Department of Taxation.