No, IRA distributions do not qualify for the Colorado annuity exclusion. Individual taxpayers under age 55 may not claim the subtraction unless the pension and annuity income is a death benefit. Pensions and annuities are made in a series of payments at regular intervals (such as weekly, monthly, or yearly) over a period greater than one year.
See Income Tax Topics: Social Security, Pensions, and Annuities(opens in new window.