Retirement income exclusion is based on each person's income.
Income from property jointly owned must be split 50% each.
Up to $4,000 of the maximum allowable exclusion may be earned income.
- Up to $35,000 for taxpayers 62-64 years of age or
- Less than 62 and permanently disabled
- Up to $65,000 if the taxpayer is 65 or older
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