24K Retired Military Pay not deducted from Colorado Taxes

Forum|Forum|1 year ago
February 25, 2025
1 reply
0 views

The State of Colorado allows me to deduct 24K of my retired military pay. Turbo Tax is not making the deduction. WHY?

I noticed on my previous state returns, using Turbo Tax, it has not done the deductions.

Why will Turbo Tax not make the deduction?

I have reentered the information from Defense Finance and Accounting Service U.S. Military Retired Pay Form 1099-R several times. The Colorado 2024 DR 0104AD – Subtractions from Income Schedule does not show where 24K was added for deduction. I believe it should be entered on item 4. Primary Taxpayer Pension, nnuity, IRA, or Disability.

jiadamsAuthor

I am using the Premier Edition.

J Adams

jiadamsAuthor

After researching and re-reading Colorado 2024 Form DR 0104AD, Turbo Tax is currently working correctly. The following is from the form's instructions for Line 4.

Age 65 or older, then you may subtract $24,000 minus any amount entered on line 3, or the total amount of your taxable pension/annuity income, whichever is smaller; if the amount in line 3 of this form is greater than $24,000, you may not claim any subtraction for pension and annuity income on line 4;

The amount is line 3 (Social Security) is greater.

I consider this post closed.