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jiadams
New Member

24K Retired Military Pay not deducted from Colorado Taxes

The State of Colorado allows me to deduct 24K of my retired military pay.  Turbo Tax is not making the deduction.  WHY?

 

I noticed on my previous state returns, using Turbo Tax, it has not done the deductions.

 

Why will Turbo Tax not make the deduction? 

 

I have reentered the information from Defense Finance and Accounting Service U.S. Military Retired Pay Form 1099-R several times.  The Colorado 2024 DR 0104AD – Subtractions from Income Schedule does not show where 24K was added for deduction.  I believe it should be entered on item 4. Primary Taxpayer Pension, nnuity, IRA, or Disability.

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2 Replies
jiadams
New Member

24K Retired Military Pay not deducted from Colorado Taxes

I am using the Premier Edition.

 

J Adams

jiadams
New Member

24K Retired Military Pay not deducted from Colorado Taxes

After researching and re-reading Colorado 2024 Form DR 0104AD, Turbo Tax is currently working correctly.  The following is from the form's instructions for Line 4.

 

  • Age 65 or older, then you may subtract $24,000 minus any amount entered on line 3, or the total amount of your taxable pension/annuity income, whichever is smaller; if the amount in line 3 of this form is greater than $24,000, you may not claim any subtraction for pension and annuity income on line 4;

The amount is line 3 (Social Security) is greater.

 

I consider this post closed.

 

 

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