Fiduciary Income Tax - Virginia Tax 2025

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  1. Click ‘Get Form’ to open the Fiduciary Income Tax - Virginia Tax document in the editor.
  2. Begin by entering the Estate or Trust Name and FEIN at the top of the form. Ensure that all information is accurate to avoid processing delays.
  3. Fill in the Trustee or Executor's name, address, and filing period ended date. Select the type of entity from options such as Simple Trust, Complex Trust, or Decedent’s Estate.
  4. Complete lines for Federal taxable income and West Virginia fiduciary additions and subtractions as per your financial records. This will determine your West Virginia taxable income.
  5. If applicable, check boxes for credits and indicate if this is a final or amended return. Make sure to review all entries for accuracy before submission.
  6. Utilize our platform's features to save your progress frequently and ensure you can easily return to complete any sections later.

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The fiduciary (or one of the joint fiduciaries) must file Form 1041 for a domestic trust taxable under section 641 that has: Any taxable income for the tax year, Gross income of $600 or more (regardless of taxable income), or.
According to Virginia Instructions for Form 760, you must file a Virginia tax return IF: You are a resident, nonresident or part year resident of Virginia and you have to file a federal income tax return.
Who must file. The fiduciary of a resident estate or trust must file a return if the estate or trust is required to file a federal fiduciary income tax return (Form 1041), or if it had any Virginia taxable income.
Extensions. Virginia grants an automatic 6-month filing extension for fiduciary income returns. The extension provisions do not apply to payment of any tax due with your return. To avoid penalties, you must pay at least 90% of the fiduciarys final tax liability by the original due date.
Fiduciary income tax is a tax imposed on the income earned by certain types of legal entities, such as trusts and estates, while they hold and manage assets on behalf of beneficiaries.

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State Taxes An income tax return for the estate (income coming to the estate after death) must be filed if there is sufficient income. A Virginia estate tax return must be filed if required (generally only required if a federal estate tax return is necessary.
Age 65 or over: Each filer who is age 65 or over by January 1 may claim an additional exemption. When a married couple uses the Spouse Tax Adjustment, each spouse must claim his or her own age exemption. Blindness: Each filer who is considered blind for federal income tax purposes may claim an additional exemption.

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