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April 1, 2023
Question

VA State taxes Military Subtraction from AGI

  • April 1, 2023
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VA State taxes Retired Military Subtraction from AGI

1 reply

April 1, 2023

As a veteran over 55, you can deduct up to $40,000 of your retired military pay from Virginia taxable income. This Virginia veteran tax credit phases in over four years, starting at $10,000 for the 2022 tax year and increasing by $10,000 yearly until 2025.  Look for the screen below in the Virginia section of TurboTax to make the adjustment.