TCA: Pass-through Tax Credit Allocation Form (2025)

Virginia · Virginia Tax · Used for tax years 2025

Virginia Form TCA is used by pass-through entities to allocate tax credits to taxpayers. It reports the entity’s credit information, each taxpayer’s allocated amount, and the total allocation. It cannot be used to allocate pass-through entity tax (PTET) credits.

Who files this form

Pass-through entities use Form TCA to allocate a tax credit to the taxpayers listed in Section II. Any pass-through entity listed in Section II must complete a separate Form TCA.

Form TCA cannot be used to allocate pass-through entity tax (PTET) credits. For those credits, see the Form 502PTET Instructions.

When it's due

For tax year 2025, the form says to file within 30 days of certification, but at least 90 days before the participants listed in Section II file their income tax returns. This timing helps avoid delays in annual return processing.

What you'll need

Have the following ready:

  • A copy of your credit certificate, which must be enclosed. Complete a separate Form TCA for each certificate.
  • The filing entity’s name and FEIN, and its parent’s FEIN if it is a subsidiary.
  • The tax year, credit type, amount granted or allocated, and certificate number, if applicable.
  • Each recipient’s name, SSN or FEIN, mailing address, and allocated amount.
  • The authorized representative’s signature, printed name, title, date, telephone number, and fax number.

Documentation is required for any changes to the information provided.

How to file

  1. Make sure all businesses listed in Section II are registered with the Department. If not, use iReg online or complete Form R-1.
  2. Complete Section I and check one credit type.
  3. List the recipients and allocations in Section II. You may provide this information as an enclosure containing only the required information.
  4. Show allocations in whole dollars. The Section II total must equal Section I, Line G.
  5. Have an authorized representative sign Section III and enclose a copy of the credit certificate.

Mail to:

Virginia Department of Taxation

Tax Credit Unit

P.O. Box 715

Richmond, VA 23218-0715

Or fax to: (804) 774-3902.

For assistance, call (804) 786-2992.

Common mistakes

  • Listing businesses that have not registered with the Department.
  • Reporting allocations with cents instead of whole dollars.
  • Entering a Section II total that does not match Section I, Line G.
  • Forgetting the authorized representative’s signature or the required certificate copy.
  • Using one Form TCA for multiple certificates. Each certificate requires a separate form.
  • Using Form TCA to allocate PTET credits.
  • Providing inaccurate information. Changes require documentation.

Questions people ask

Must credits be allocated according to ownership?

Credits must be allocated by percentage of ownership or participation in the pass-through entity, except for the Historic Rehabilitation Credit, Qualified Equity and Subordinated Debt Investments Tax Credit, Research and Development Expenses Tax Credit, Major Research and Development Expenses Tax Credit, and Virginia Housing Opportunity Tax Credit.

Can I attach a separate recipient list?

Yes. Section II information may be submitted as an enclosure, provided it lists only the required information.

What if a recipient is another pass-through entity?

Any pass-through entity listed in Section II must complete a separate Form TCA.

Can I use this form for PTET credits?

No. The form directs you to the Form 502PTET Instructions for information on allocating PTET credits.

Official sources

All versions of TCA