Virginia Military Retirement Subtraction

Forum|Forum|1 year ago
December 30, 2024
2 replies
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According to Virginia Tax website

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.

We will be filing in 2025 which means that this should apply to anyone of all ages this year. But when I go to the state portion in Turbotax is still only says 55. Am I misunderstanding what this is saying to me? Everywhere I read and search say for Tax year 2024 all ages can subtract. Has Turbotax updated yet?

Best answer by DoninGA

VA website - https://www.tax.virginia.gov/military-benefits-faq#:~:text=%2430%2C000%20of%20eligible%20military%20benefits,year%202025%20and%20later%20returns.

You are correct there is no age limit when filing a 2024 tax return.

The state of Virginia tax forms have not yet been finalized. They currently are showing as available on 01/16/2025

TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product=Turbotax_online&bu=cg

DoninGAAnswer

Employee

VA website - https://www.tax.virginia.gov/military-benefits-faq#:~:text=%2430%2C000%20of%20eligible%20military%20benefits,year%202025%20and%20later%20returns.

You are correct there is no age limit when filing a 2024 tax return.

The state of Virginia tax forms have not yet been finalized. They currently are showing as available on 01/16/2025

TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product=Turbotax_online&bu=cg

Anonymous

I have notified TurboTax help on this issue and they seem not to understand that the verbiage Virginia has used for this tax year. TurboTax help still insists you must be 55 in order to use the exemption even after providing the link and verbiage. I guess I will have to use another provider this year if they don't fix this prior to me getting all of my documents finalized. This is a huge issue and i am disappointed that it isn't being taken seriously by the Intuit staff.