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Level 2
posted Mar 14, 2023 8:43:03 AM

Where do I enter the income reduction for veteran benefits received (i.e. retirement pay) on my Virginia 2022 return?

1 5 1840
5 Replies
Level 2
Mar 14, 2023 9:10:06 AM

Just found it...VA Schedule ADJ Line 6 led me to Oth Sub Stmt.  I entered code 60 from the VA 760 Instructions.

Expert Alumni
Mar 14, 2023 9:10:35 AM

Yes, there is a subtraction of up to $10,000 from VA taxable income available for taxpayers age 55 and older who receive military retirement pay.  In the VA state interview "Start/Edit" the "Income" section.  There you'll find the "Military Benefit Subtraction" topic.  

Level 2
Mar 14, 2023 9:20:21 AM

On the CD "Home and Business" version, there isn't a Military Benefit credit listed under the Virginia section of the Step-by-Step. There is a variety of credits listed, but none appear to address this topic.

 

New Member
Feb 14, 2024 12:45:50 PM

how do I enter the information for the veteran retired pay deduction?

Level 15
Feb 14, 2024 12:51:35 PM


@ennazus2 wrote:

how do I enter the information for the veteran retired pay deduction?


You enter the Form 1099-R that you received for the military pension income as received.

 

To enter, edit or delete a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

 

Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R

Online editions -

 

On the screen Did you get a 1099-R in 2023? Click on Yes

On the next screen click on Continue

On the screen Let's import your tax info Click on Change how I enter my form

On the screen How do you want to add your 1099‑R? Click on Type it in myself

On the screen Who gave you a 1099-R? select the type of 1099-R you received and Continue