I'm not a CPA and this is my first time using TurboTax. I'm using the 2019 Premier version. As I understand the Colorado Pension & Annuity Exclusion, each individual can exempt up to $24,000 per year on his/her Colorado State return for retirement income such as IRA distributions and Social Security benefits. For married couples, each can exempt up to $24,000, for a total of $48,000 per couple.
So my layperson answer to your question, Alan1220, is that I believe that your combined SS benefit is excluded from taxable state income in Colorado.
I wonder if there's a bug in the program, however. I personally received around $45,000 and my spouse received $14,000. I entered this clearly (indicating everything by name). TurboTax is giving us a $48,000 exemption, and that doesn't seem right to me.
Am I right, or is TurboTax?
