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March 22, 2023
Question

I don't think I got the military retirement pay discount of 10K in my Virginia taxes. Should I amend my return?

  • March 22, 2023
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1 reply

March 22, 2023

Probably not -- the subtraction from income is not easy to see on your return on first glance, but it should be on your return if you're eligible and input your information into TurboTax correctly.

 

The $10,000 subtraction, if you're eligible for it, will appear on line 6b, 6c or 6d of your Schedule ADJ, Virginia Schedule of Adjustments with code 60.  It'll be carried down to line 7 of Schedule ADJ.

 

Then, the Schedule ADJ line 7 amount will be transferred over to Form 760, line 7.  That's where you'll see the subtraction amount on your return.

 

According to New Military Benefits Subtraction in the Resident Individual Income Tax Return Instructions:

For taxable years beginning on and after January 1, 2022, certain military benefits received by an individual age 55 or older may be subtracted from Virginia taxable income. The maximum amount of the subtraction is $10,000 in Taxable Year 2022. 

 

If it turns out that you do need to amend your state return, please see the TurboTax Help article How do I amend my state tax return? for guidance.