Does a traditional IRA to Roth IRA conversion qualify for the Colorado state pension and annuity exclusion?

[AmyC]

It depends.

• If you are 65 or older, then you can exclude up to $24,000.
• ages 55-64 up to $20,000.
• If you are younger than that, it must be income as a beneficiary, exclude up to $20,000.

[abby40]

Thank you,

My situation is "age 55-64". Should the "up to $20,000" exclusion include moneys received from a private annuity and inherited IRA?

That is, can I only exclude a maximum $20K in total from all pension and annuity sources or can exclude $20K of the traditional IRA to Roth conversion PLUS the approximate $8K received from a private annuity and IIRA for a grand total of $28K?

[AmyC]

The $20,000 is the maximum to exclude and covers federally taxable IRA distributions, pensions, annuities and Social Security benefit according to CO. You get one write off of $20,000.