diff --git a/activerecord/lib/active_record/connection_adapters/postgresql/schema_statements.rb b/activerecord/lib/active_record/connection_adapters/postgresql/schema_statements.rb
index 1840c6b683..6b5042eddd 100644
--- a/activerecord/lib/active_record/connection_adapters/postgresql/schema_statements.rb
+++ b/activerecord/lib/active_record/connection_adapters/postgresql/schema_statements.rb
@@ -663,7 +663,12 @@ module ActiveRecord
             column_name, type, default, notnull, oid, fmod, collation, comment, attgenerated = field
             type_metadata = fetch_type_metadata(column_name, type, oid.to_i, fmod.to_i)
             default_value = extract_value_from_default(default)
-            default_function = extract_default_function(default_value, default)
+
+            if attgenerated.present?
+              default_function = default
+            else
+              default_function = extract_default_function(default_value, default)
+            end
 
             if match = default_function&.match(/\Anextval\('"?(?<sequence_name>.+_(?<suffix>seq\d*))"?'::regclass\)\z/)
               serial = sequence_name_from_parts(table_name, column_name, match[:suffix]) == match[:sequence_name]
diff --git a/activerecord/test/cases/adapters/postgresql/virtual_column_test.rb b/activerecord/test/cases/adapters/postgresql/virtual_column_test.rb
index 069e10e74b..1ef9c846d1 100644
--- a/activerecord/test/cases/adapters/postgresql/virtual_column_test.rb
+++ b/activerecord/test/cases/adapters/postgresql/virtual_column_test.rb
@@ -19,6 +19,8 @@ if ActiveRecord::Base.connection.supports_virtual_columns?
         t.virtual :upper_name,  type: :string,  as: "UPPER(name)", stored: true
         t.virtual :name_length, type: :integer, as: "LENGTH(name)", stored: true
         t.virtual :name_octet_length, type: :integer, as: "OCTET_LENGTH(name)", stored: true
+        t.integer :column1
+        t.virtual :column2, type: :integer, as: "column1 + 1", stored: true
       end
       VirtualColumn.create(name: "Rails")
     end
@@ -78,6 +80,7 @@ if ActiveRecord::Base.connection.supports_virtual_columns?
       assert_match(/t\.virtual\s+"upper_name",\s+type: :string,\s+as: "upper\(\(name\)::text\)", stored: true$/i, output)
       assert_match(/t\.virtual\s+"name_length",\s+type: :integer,\s+as: "length\(\(name\)::text\)", stored: true$/i, output)
       assert_match(/t\.virtual\s+"name_octet_length",\s+type: :integer,\s+as: "octet_length\(\(name\)::text\)", stored: true$/i, output)
+      assert_match(/t\.virtual\s+"column2",\s+type: :integer,\s+as: "\(column1 \+ 1\)", stored: true$/i, output)
     end
 
     def test_build_fixture_sql