502 FED-1: Virginia Partnership-Level Federal Adjustments Report (2025)
Virginia · Virginia Tax · Used for tax years 2025
Virginia Form 502FED-1 reports partnership-level federal adjustments and the resulting changes to income, deductions, Virginia additions and subtractions, credits, and apportionment. It shows amounts previously reported on Virginia Form 502, net changes, and corrected amounts.
Who files this form
Partnerships with partnership-level federal adjustments must complete and file Form 502FED-1.
A partnership may elect to pay the Virginia income tax due on behalf of its partners by completing Forms 502FED-1 and 502FED-2 instead of filing an amended Virginia Form 502. Otherwise, the partnership and its partners must file amended Virginia returns with all associated forms and schedules and enclose a copy of Form 502FED-1.
When it's due
The 2025 version of Form 502FED-1 requires filing within 90 days of the final determination date for partnership-level federal adjustments. No fixed calendar due date is printed.
What you'll need
Have the following information ready:
- The partnership's name, FEIN, entity type, and address.
- The state partnership representative's name, contact information, and address.
- The federal final determination date and the taxable year start and end dates for the federal adjustment.
- Amounts originally reported on Virginia Form 502, the net changes, and the correct amounts.
- Adjusted Virginia apportionment figures, if any.
- The owner's participation percentage if preparing an owner's copy.
If electing to pay tax on behalf of partners, complete Form 502FED-2 as well. Otherwise, prepare amended Virginia returns with all associated forms and schedules and a copy of Form 502FED-1.
How to file
- Check whether you are preparing the partnership's copy or an owner's copy. For an owner's copy, enter the owner's participation percentage.
- Enter the partnership and representative information, federal final determination date, and taxable year information.
- Complete Section I with the amounts reported on Virginia Form 502, the net changes, and the correct amounts. Complete Section II for partnership-level adjusted Virginia apportionment, if any.
- If the partnership elects to pay tax on behalf of its partners, complete Forms 502FED-1 and 502FED-2 instead of an amended Virginia Form 502. Otherwise, the partnership and its partners must file amended Virginia returns with all associated forms and schedules and enclose Form 502FED-1.
The supplied form does not state a mailing address or an e-file method.
Common mistakes
The form's filing reminders include:
- If electing to pay Virginia income tax on behalf of partners, complete both Form 502FED-1 and Form 502FED-2.
- Otherwise, the partnership and its partners must file amended Virginia returns. Include all associated forms and schedules and a copy of Form 502FED-1.
Questions people ask
Can the partnership pay the Virginia tax on behalf of its partners?
Yes. The partnership may make that election by completing Forms 502FED-1 and 502FED-2 instead of filing an amended Virginia Form 502.
What happens if the partnership does not make that election?
The partnership and its partners must file amended Virginia returns with all associated forms and schedules and enclose a copy of Form 502FED-1.
What information goes on an owner's copy?
Check the Owner's Copy box and enter the owner's participation percentage.
What does Section I show?
Section I summarizes partnership-level income and adjustments. Its columns show the amounts reported on Virginia Form 502, the net changes, and the correct amounts.