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.
