No - The pension exclusion for taxpayers 65 or older as of December 31, 2018 is $24,000; and $20,000 for taxpayers at least 55 but not yet 65 as of December 31, 2018.
Each spouse must meet the
requirements for the subtraction separately and
claim the subtraction only on their pension/annuity
income.
So between you and your spouse, the most you can exclude is $48,000.
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