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Is Social Security Income qualify for the Colorado pension and annuity exclusion

Both my wife and I are over 65, retired and both receive Social Security Benefits.  Do those benefits qualify for the Colorado pension and annuity exclusion? 

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Employee Tax Expert

Is Social Security Income qualify for the Colorado pension and annuity exclusion

Yes.  Colorado taxpayers between the ages of 55 and 64 can exclude up to $20,000 of retirement earnings from taxes, which may include Social Security, pensions and other income. Colorado residents over the age of 64 can exclude up to $24,000.  Turbo Tax will go through this exclusion when you complete your Colorado return.


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Employee Tax Expert

Is Social Security Income qualify for the Colorado pension and annuity exclusion

Yes.  Colorado taxpayers between the ages of 55 and 64 can exclude up to $20,000 of retirement earnings from taxes, which may include Social Security, pensions and other income. Colorado residents over the age of 64 can exclude up to $24,000.  Turbo Tax will go through this exclusion when you complete your Colorado return.


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