502 SVK-1: Supplemental Schedule of Owner's Share of Virginia Modifications (2025)
Virginia · Virginia Tax · Used for tax years 2025
Virginia Schedule SVK-1 (Form 502) is a supplemental schedule for reporting a pass-through entity owner’s share of Virginia additions and subtractions. Its totals are included in the additions and subtractions on the owner’s Schedule VK-1.
Who files this form
Use 2025 Schedule SVK-1 (Form 502) if you are reporting more Virginia additions or subtractions than Schedule VK-1 allows. It supplements the owner’s Schedule VK-1.
What you'll need
Have the following information and forms available:
- The owner’s name, FEIN or SSN, and address.
- The pass-through entity’s name, FEIN, address, and taxable year end date.
- The codes and dollar amounts for the owner’s Virginia additions and subtractions.
- The owner’s Schedule VK-1, where the totals will be included.
- The Form 502 Instructions, which contain the addition and subtraction codes.
Common mistakes
- Do not leave the supplemental totals out of Schedule VK-1. Include Section A, Line 16 in the total additions on the owner’s Schedule VK-1, Page 1, Line 13. Include Section B, Line 16 in the total subtractions on Page 1, Line 18.
- Refer to the Form 502 Instructions for addition and subtraction codes.
- Use additional Schedules SVK-1 if necessary.
Questions people ask
When should I use Schedule SVK-1?
Use it when you are reporting more additions or subtractions than Schedule VK-1 allows.
What if one Schedule SVK-1 is not enough?
The form says to use additional Schedules SVK-1 if necessary.
Where do I find the addition and subtraction codes?
Refer to the Form 502 Instructions.
How do I total the amounts and carry them to Schedule VK-1?
In each section, add Lines 1 through 15 and enter the total on Line 16. Include the Section A total in Schedule VK-1, Page 1, Line 13, and the Section B total in Schedule VK-1, Page 1, Line 18.