Military Benefits Subtraction (Virginia)

Forum|Forum|1 year ago
January 18, 2025
3 replies
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How old do I have to be to claim the Military Benefits Subtraction?

You must be 55 or older. Beginning with taxable year 2024 (returns usually filed in 2025,) you can subtract these benefits regardless of your age.

That statement was located: tax.virginia.gov/military-benefits-faq

Turbo Tax is not allowing it and it still says I don't qualify due to being 50. I believe the software needs to be updated. I will not file my taxes until I get an answer....or maybe I'll be forced to use another program.

Anyone hear anything on this?

Best answer by jewlkk

UPDATE:

I called TurboTax and spoke to a lady. In short, Virginia has until the end of January to provide the necessary information on updates to TurboTax and then the software will be updated to reflect the new change.

It sort of sucks that if I wasn't personally aware of this change I would have filed my taxes and missed out on 40K being deducted.

I highly recommend waiting until at least mid-Feb to do your taxes through TurboTax if your state is Virginia! I will personally call again if by then the software isn't updated.

jewlkkAuthorAnswer

UPDATE:

It sort of sucks that if I wasn't personally aware of this change I would have filed my taxes and missed out on 40K being deducted.

I highly recommend waiting until at least mid-Feb to do your taxes through TurboTax if your state is Virginia! I will personally call again if by then the software isn't updated.