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Level 1
posted Apr 13, 2024 3:44:20 PM

Colorado pension and annuity subtraction

What about for a NON resident?  Do I get to exclude the entire pension amount because I'm an Arizona resident and only have to file in Colorado because I own a rental property there.  However, my pension goes to me in Arizona......and also shows on my AZ tax return.

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1 Replies
Employee Tax Expert
Apr 15, 2024 5:44:42 PM

You can read what it says under "Learn More" on the Pension and Annuity Income screen for Colorado to determine if your pension distribution qualifies for exclusion in Colorado:

 

 

If it qualifies, then it will be excluded to the extent allowed from Colorado income tax. The maximum exclusion for individuals 65 years and older is $24,000 in 2023.