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Retirement tax questions
TurboTax is correctly computing the Connecticut Teacher’s Retirement Pay exclusion. It’s 50%.
Here are the instructions for the 2022 CT-1040:
Subtract 50% of the income received from the Connecticut Teachers’ Retirement System, provided you properly included such income in federal adjusted gross income for federal income tax purposes. You must have received a Form 1099‑R from the Connecticut Teachers’ Retirement Board to be eligible for the subtraction modification.
2022 Connecticut Resident Income Tax Return Instructions
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February 14, 2023
5:40 PM