I received 32,906.78 in pension income and 22,428.00 in social secutity. Can I take the 10,000 Maine Pension Income Deduction?

tt5159k — Thu, 06 Jun 2019 10:07:55 GMT

No. Maine allows for a deduction of up to $10,000 per yea...

MichaelDC — Thu, 06 Jun 2019 10:07:57 GMT

No. Maine allows for a deduction of up to $10,000 per year on pension income. However, that deduction is reduced in an amount equal to your annual Social Security benefit. So, for example, if you receive $22,000 in Social Security benefits this year, you cannot claim the deduction on your other forms of retirement income. In that case, all your other retirement income will be taxed as part of your gross income.

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topic I received 32,906.78 in pension income and 22,428.00 in social secutity. Can I take the 10,000 Maine Pension Income Deduction? in Retirement tax questions

I received 32,906.78 in pension income and 22,428.00 in social secutity. Can I take the 10,000 Maine Pension Income Deduction?

No. Maine allows for a deduction of up to $10,000 per yea...