turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How do I determine what Colorado taxes on Social Security and pensions?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
AmyC
Expert Alumni

How do I determine what Colorado taxes on Social Security and pensions?

Your taxable amounts from the federal are part of your CO return.  Then you can have the retiree subtraction up to $24,000 per person.

 

CO offers Retiree information which states:

Qualifying taxpayers The subtraction is generally allowed only to individuals age 55 or older but may also be claimed by individuals under age 55 for pension and annuity income they receive as a death benefit. The subtraction is generally limited to $20,000 each year or, for individuals age 65 or older, $24,000. In the case of joint filers, the subtraction is allowed separately to each taxpayer included in the joint return.

 

Pension taxation is on page 2 and Social Security on page 3. Depending on your income level, your Social Security may not be taxable.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question