I'm retired and don't have a w2. My 1040 agi is $0 but for some reason, when I start my Colorado state forms, it's showing $29k in income. I can't find any correlation between my federal 1040 income and what turbo tax is importing into my state form.
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We cannot see your screen or your tax return. What income did you enter when you prepared your federal return? And where did you enter it? Information flows from the federal return to the state return.
I have $0 taxable income and about $30k in social security. My federal agi is$0.i can't understand why turbo tax is transferring $29k to Colorado state tax firm
Where did you enter the Social Security SSA1099? Did you enter it in the right place?
Go to Federal> Wages & Income>>Retirement Plans and Social Security (SSA1099 and 1099RRB) to enter your SSA1099.
And.....hate to tell you.....but CO taxes Social Security.
There are 11 states that tax Social Security—Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, Rhode Island, Utah, and Vermont These states offer varying degrees of income exemptions, but two mirror the federal tax schedule: MN and VT.
Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, Rhode Island, Utah, and Vermont impose some form of income taxes on Social Security benefits.
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