Question

Where do I enter the income reduction for veteran benefits received (i.e. retirement pay) on my Virginia 2022 return?

Forum|Forum|3 years ago
March 14, 2023
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LeoC4Author

Just found it...VA Schedule ADJ Line 6 led me to Oth Sub Stmt. I entered code 60 from the VA 760 Instructions.

DMarkM1

Yes, there is a subtraction of up to $10,000 from VA taxable income available for taxpayers age 55 and older who receive military retirement pay. In the VA state interview "Start/Edit" the "Income" section. There you'll find the "Military Benefit Subtraction" topic.

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LeoC4Author

On the CD "Home and Business" version, there isn't a Military Benefit credit listed under the Virginia section of the Step-by-Step. There is a variety of credits listed, but none appear to address this topic.