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Retirement tax questions
@kivlint Reported to TurboTax for correction on that website you posted.
Georgia has also changed their tax code for military retirement income.
For Virginia -
Virginia Taxable Income Subtraction for Military Retired Pay: Virginia has a graduated income subtraction for military retired pay. For the 2022 tax year resident Veterans aged 55 and over who are receiving military retired pay can deduct $10,000 from their Virginia taxable income. This subtraction will increase each year by $10,000 until the 2025 tax year, for a maximum subtraction of $40,000.
- 2022 - $10,000
- 2023 - $20,000
- 2024 - $30,000
- 2025 - $40,000
‎December 26, 2023
3:39 PM