The deadline to submit a contribution that could qualify for a 2020 Virginia state income tax deduction is fast approaching.
Get your contribution in by one of these options:
- Log in to your account and make a one-time contribution under ‘Manage My Accounts’ no later than 11:59 p.m. on Thursday, December 31, 2020.
- Or, mail a check or money order that is postmarked on or before Thursday, December 31, 2020. As long as your contribution is postmarked by December 31st, it may qualify as a 2020 contribution for tax purposes; however, depending on when the contribution is received, it could post to your account in 2021. Consider keeping a copy of the postmark date for tax documentation purposes.
Remember, Virginia taxpayers may deduct contributions up to $4,000 per account per year from their Virginia taxable income.