Important Information Regarding Virginia's Overall Limit on Itemized Deductions: Indexed Amounts of the Limitation for Taxable Year 2019
Virginia Tax is announcing the reinstatement of the Pease Limitation for Virginia income tax purposes, meaning the overall limit on itemized deductions is back in effect beginning with Taxable Year 2019.
This is due to legislation enacted by the Virginia General Assembly deconforming from the provision of the federal Tax Cuts and Jobs Act (TCJA) that suspended the limitation.
For Taxable Year 2019, the amounts of the Virginia-specific Pease limitation amounts are:
- $326,050 if married filing jointly or a qualifying widow(er);
- $298,850 if a head of household;
- $271,700 if single; and
- $163,025 if married filing separately.
Details can be found in Tax Bulletin 19-9 and in the Laws, Rules, and Decisions section of our website.
If you have additional questions, go to www.tax.virginia.gov
, or contact us at 804.367.8031
for individual income tax questions and 804.367.8037
for business tax questions.