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It is part of your retirement income and may qualify for exemption. income from sources such as Social Security or pensions may be mostly or entirely state-tax-free for many Colorado retirees.CO has a pension and annuity deduction maximum of $24,000 based on these factors:
See tax.colorado.gov › income-tax-subtractions
Thank you for your response. I agree with your response, but turbo tax software is not subtracting the allowed $24,000 in calculating Colorado State Income Tax. What do I need to do to fix this issue.
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