tk01kj
Returning Member

State tax filing

What about the first time home buyer savings account subtraction in Virginia?

https://www.tax.virginia.gov/first-time-home-buyer-savings-account-subtraction#

I am planning on buying a home in the next few years. I did open a performance savings account in 2023 but the amount is greater than $50k, and I also have a brokerage account since 2017 that is greater than $50k. If I open another $50k savings account now and designate it as my first time home buyer account, can I claim the deduction for 2023?