I just downloaded the most recent Colorado 2025 tax product. For my fed product it shows that the pension forms are still not available, however, in the state product it provides a 2025 pension worksheet that appears to be what is being used. I am 65 years old my wife is 63 years old and we both get SS and a separate work related pension. It appears that the TT Colorado product is still using the old calculation of only allowing me to deduct a total of 24K and my spouse 20K. However, per the new 2025 Colorado tax code I should be able to deduct my full SS and in addition 24K of my pension without any AGI limits, where as my wife is still limited by AGI and age (under 65) to only deduct a total of 20K. Is this something that TT is still working on or is my understanding of the Colorado tax code incorrect?
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The Colorado forms are not expected to be fully implemented until after 22 January. Check the state dates every couple weeks to see if TTX changes them, but
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...........the proper calculations "might" or might-not be ready at any time before then.
One year for my state (NC), they used the prior year's forms right up to the final ready date....and those old NC state forms even showed some of the numbers on the wrong lines since the state had redesigned and renumbered it......but all was OK once the final forms were implemented.
Wait until the first week of February and check again at that time. The software staff are not likely to do anything about wrong calculations until thye "final" forms are actually implemented.
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