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April 13, 2024
Question

Colorado pension and annuity subtraction

  • April 13, 2024
  • 1 reply
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What about for a NON resident?  Do I get to exclude the entire pension amount because I'm an Arizona resident and only have to file in Colorado because I own a rental property there.  However, my pension goes to me in Arizona......and also shows on my AZ tax return.

    1 reply

    April 16, 2024

    You can read what it says under "Learn More" on the Pension and Annuity Income screen for Colorado to determine if your pension distribution qualifies for exclusion in Colorado:

     

     

    If it qualifies, then it will be excluded to the extent allowed from Colorado income tax. The maximum exclusion for individuals 65 years and older is $24,000 in 2023.

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