An owner receives this schedule because the pass-through entity (PTE) earned income from Virginia sources and passed through a portion of that Virginia source income based on ownership of the PTE.
Taxation: everyone who receives Virginia source income is subject to taxation by Virginia regardless of state of residency or domicile.
Return: an owner may be required to file a Virginia tax return even though a nonresident individual or a business domiciled outside of Virginia.
More lines: use Schedule SVK-1 if claiming more additions or subtractions than the Schedule VK-1 allows.
Codes: refer to the Form 502 Instructions for addition and subtraction codes.
| Question | Answer |
|---|---|
| Form Name | Form 502 Schedule VK-1 |
| Form Length | 2 pages |
| Fillable? | Yes |
| Fillable fields | 114 |
| Avg. time to fill out | 19 min |
| Edition | Rev 07/26 |
| Matches the agency's file | Yes, checked October 2, 2026 |
| Other names | VK-1, VK1, Schedule VK-1, Form 502 Schedule VK-1, Virginia Pass-Through Entity Owner's Share of Income |
| Official source | Form 502 Schedule VK-1 (Rev 07/26), Virginia Department of Taxation |
Form 502 Schedule Vk 1 isn’t the one you’re looking for?