For the 2022 tax year, taxpayers born on or before January 1, 1958, may qualify to claim an age deduction based on birth date, filing status and income. A taxpayer who claims an age deduction may not claim either of the following:
- Credit for Low Income Individuals or Virginia Earned Income Credit: You may not claim both an age deduction and a credit for low income or Virginia Earned Income Credit. For married taxpayers filing separate returns, if one spouse claimed a credit for low income or Virginia Earned Income Credit, neither spouse can claim an age deduction.
- Disability Subtraction: If you claim an age deduction, you may not claim a disability subtraction. For married taxpayers, each spouse, if eligible, may claim either an age deduction or a disability subtraction. You should claim the deduction or subtraction that gives you the greatest tax benefit.
If you or your spouse if you are married, are not claiming a disability subtraction or a credit for low income and your birth date is on or before January 1, 1958, please read the following information to determine if you qualify for an age deduction and how to determine the amount of the age deduction you may claim for 2022.
Taxpayers Age 65 & Older
If you, or your spouse, were born on or before January 1, 1958, you may qualify to claim an age deduction of up to $12,000 each for 2022. The age deduction you may claim will depend upon your birth date, filing status and income.
If your birth date is:
- On or before January 1, 1939: You may claim an age deduction of $12,000. If you are married, each spouse born on or before January 1, 1939, may claim a $12,000 age deduction. For individuals born after January 1, 1939, the age deduction is based on the following criteria.
- On or between January 2, 1939, and January 1, 1958: Your age deduction is based on your income. A taxpayer's income, for purposes of determining an income-based age deduction is the taxpayer' s adjusted federal adjusted gross income or "AFAGI." A taxpayer's AFAGI is the taxpayer's federal adjusted gross income, modified for any fixed date conformity adjustments, and reduced by any taxable Social Security and Tier 1 Railroad Benefits.
- For All Married Taxpayers, whether filing jointly or separately, the maximum allowable age deduction of $12,000 each is reduced $1 for every $1 the married taxpayers' joint AFAGI exceeds $75,000.
- For Filing Status 1, Single Taxpayer, the maximum allowable age deduction of $12,000 is reduced $1 for every $1 the taxpayer's AFAGI exceeds $50,000.
For more information regarding age deductions, please visit the Virginia Department of Taxation website.