CT Tax return

Forum|Forum|3 years ago
March 2, 2023
1 reply
21 views

My only income is a pension and an Annuity....I am 57 years old

Why on my CT state tax return for 2022 is line 4 blank???I

I seem to be getting back all of the state income tax that was withheld from my Annuity??? Why is that annuity not being taxed by the state of CT? or have i entered something wrong??? This has never happened in previous years...The annuity is always taxed

Example...last year I had $3120 withheld from the annuity..the amount I should have had was $1261.00...so my refund was only $1859.00..But in 2022 my refund is the full $3120.00

TurboTax Home & Biz Windows

Best answer by MayaD

Beginning with the 2022 tax year, income-eligible taxpayers may deduct 100% of their qualifying pension and annuity income from their Connecticut taxable income. Under prior law, the exemption phased-in gradually between 2019 and 2025.

By law, taxpayers are eligible for the exemption if their total federal AGI is below

(1) $75,000 for single filers, married people filing separately, and heads of household or

(2) $100,000 for married people filing jointly.

Pension and annuity income is fully taxable for taxpayers with AGIs equal to or greater than these thresholds

Income Tax Deductions for Retirement Income

MayaDAnswer

Alumni - Intuit

By law, taxpayers are eligible for the exemption if their total federal AGI is below

(1) $75,000 for single filers, married people filing separately, and heads of household or

(2) $100,000 for married people filing jointly.

Pension and annuity income is fully taxable for taxpayers with AGIs equal to or greater than these thresholds

Income Tax Deductions for Retirement Income

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DJCOOP67Author

Level 2

THANK YOU SO MUCH!!!

It was driving me crazy for two days thinking I entered something incorrectly.....I just couldn't understand it. And without knowing the tax law in my mind there was no way that the State of CT would give back all taxes ...lol

So Thank you for the info..its much appreciated 🙂