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Level 2
January 11, 2024
Question

State tax

  • January 11, 2024
  • 1 reply
  • 4 views

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. 

    1 reply

    Level 15
    January 11, 2024

    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.

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
    ozmt56Author
    Level 2
    January 11, 2024

    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

    Level 15
    January 11, 2024

    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.

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**