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New Member
posted Jun 5, 2019 10:27:14 PM

Are social security benefits taxable in colorado

TurboTax says my social security benefits that are taxable on my Federal return are not taxable on my Colorado State return; is this correct?

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2 Replies
New Member
Jun 5, 2019 10:27:15 PM

Where do I make these adjustments on my Colorado taxable income?

Expert Alumni
Jun 5, 2019 10:27:17 PM

In Colorado, taxpayers 55-64 years old can exclude a total of $20,000 for Social Security and qualified retirement income and those 65 and over can exclude up to $24,000 of Social Security benefits and qualified retirement income.  Additionally, Social Security benefits not taxed by the federal government are not added back to adjusted gross income for state income tax purposes.

So it's quite possible none of your social security benefits are taxable in Colorado.