Enter your pension income shown on Form 1099-R in the Federal section of TurboTax. See this help article.
Then, when you complete your Colorado return, you will be presented with questions about income items that are treated differently for Colorado. TurboTax will calculate any Subtractions from Income for Colorado based on your entries and answers to the questions.
Individuals may be allowed to claim a subtraction on their Colorado Individual Income Tax Return for pension and annuity income included in their federal taxable income. Qualifying individuals may claim a subtraction on the Subtractions from Income Schedule (DR 104AD) (opens in new window) for pension and annuity income included in their federal adjusted gross income.
The Colorado subtraction is generally allowed only to individuals age 55 or older but may also be claimed by individuals under age 55 for pension and annuity income they receive as a death benefit. The subtraction is generally limited to $20,000 each year or, for individuals age 65 or older, $24,000. In the case of joint filers, the subtraction is allowed separately to each taxpayer included in the joint return.
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