Schedule VK-1 Consolidated: Allows Reporting of Multiple Owners' Shares of Income and Virginia Modifications and Credits (2025)
Virginia · Virginia Tax · Used for tax years 2025
The 2025 Virginia Schedule VK-1 Consolidated reports information for multiple owners of a pass-through entity (PTE). It lists owner details, amounts withheld, income, deductions, Virginia allocation and apportionment, additions, subtractions, and refundable credits.
What you'll need
Have the following information ready for the 2025 schedule:
- The PTE's name and FEIN.
- Each owner's name, address, and FEIN or SSN.
- The date each owner acquired an interest in the PTE, entity type, participation type, and participation percentage.
- The amount withheld by the PTE for each owner and the owner's withholding exemption code.
- Amended return information, including the reason code, and whether the owner is participating in an individual unified nonresident return.
- Taxable income, deductions, tax-exempt interest income, income allocated to Virginia and outside Virginia, apportionable income, and the Virginia apportionment percentage.
- Total additions, subtractions, and refundable credits.
Common mistakes
- Do not include dashes in the owner's FEIN or SSN.
- Include a decimal point in the owner's participation percentage and the Virginia apportionment percentage, as directed on the form.
- Enter the date the owner acquired an interest in MM/DD/YYYY format.
- Check the applicable boxes for an owner's amended return and/or participation in an individual unified nonresident return.
Questions people ask
What owner identification information does the schedule request?
It requests each owner's name, address, and FEIN or SSN. Enter the FEIN or SSN without dashes.
Does the schedule ask for tax withheld for each owner?
Yes. It has a field for the amount withheld by the PTE for the owner and a field for the owner's withholding exemption code.
How should I enter the date an owner acquired an interest?
Use MM/DD/YYYY format.
Does the schedule separate income allocated to Virginia from income allocated elsewhere?
Yes. Line 4 is for income allocated to Virginia, and Line 5 is for income allocated outside Virginia.
Where are total refundable credits reported?
The schedule labels the total refundable credits field as Part IV, Line 1.