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If you are required to make an adjustment for Section 179 expenses, you must also make an adjustment for additional depreciation. To calculate this adjustment, you must compute the applicable federal depreciation attributable to the Section 179 expenses that you added back in the calculation. When computing this federal depreciation amount, you may not include any bonus depreciation. This adjustment will be a subtraction on your Virginia Schedule ADJ.
Enter the amount of any income from obligations of the U. S. that are included in your federal adjusted gross income, which are exempt from Virginia state tax. Income from obligations issued by the following organizations IS NOT taxable in Virginia: Tennessee Valley Authority Federal Deposit Insurance Corporation Federal Home Loan Bank Federal Intermediate Credit Bank Student Loan Marketing Association Governments of Guam, Puerto Rico & Virgin Islands U.S. Treasury bills, notes, bonds, and savings bonds Federal Land Bank Federal Reserve Stock Farm Credit Bank Export-Import Bank of the U.S. U.S. Postal Service Resolution Trust Corporation
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