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miles0346
New Member

How to take the Military Benefits Subtraction from Income in TurboTax? Can't find any entry point?

New format this year is completely unresponsive to the topic of subtracting $40,000 of military benefits. Why is this so hard and how to do it? Can't even see the paperwork to be filed?
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4 Replies

How to take the Military Benefits Subtraction from Income in TurboTax? Can't find any entry point?

What state are you referring to when asking about the Military Benefits Subtraction?

How to take the Military Benefits Subtraction from Income in TurboTax? Can't find any entry point?

Looking for information about the Military Retirement Benefits Subtraction for the state of Virginia. What %age is it and where does it go in the VA income tax form?

DaveF1006
Expert Alumni

How to take the Military Benefits Subtraction from Income in TurboTax? Can't find any entry point?

 Here are the steps you need to take to make sure you receive this benefit if you qualify.

 

  1. In the Virginia State interview, look for a screen titled "Here's the income that Virginia handles differently." 
  2. Find the Military section and click Start.
  3. Select Military Benefits Subtraction.
  4. You will need to enter the amount (or confirm the amount) of your military pension that was included in your Federal income.
  5. The Result: TurboTax will then apply Code 60 on your Virginia Schedule ADJ, which reduces your taxable income by up to $40,000.
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How to take the Military Benefits Subtraction from Income in TurboTax? Can't find any entry point?

Thanks much! Found it.

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