For state income tax purposes, can an individual 65 years or older, deduct $10,000 or $15,000 from their South Carolina taxable income?

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April 2, 2025
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Reference South Carolina code 12-6-1170(a) South Carolina code 12-6-1170(b). Some of my income is from a qualified retirement account.

MayaD

Retirement Income Tax Deduction: An individual taxpayer receiving income from a qualifying retirement account may deduct up to $10,000 annually after reaching age 65.
Age 65 and Older Income Tax Deduction: Beginning in the tax year a resident taxpayer reaches age 65, they may claim a deduction of $15,000 against any South Carolina income. If you claim the Retirement Deduction (mentioned above) or the Military Retirement Deduction, you must subtract those amounts from this deduction, unless claiming those deductions as a surviving spouse.

Take this deduction on Line q of your Individual Income Tax return.

SC Department of Revenue

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Robert070345Author

Yes,that was a correct answer verified by the state treasurer’s office. Unfortunately, the TurboTax form does not have a clear question and place to enter that data, even though it’s on the SC tax form.

Thank you for your answer.

AnnetteB6

The deductible amount is automatically reported on the SC tax return based on your age and the retirement distributions that have been entered in the Federal return.

However, there may be additional questions you need to answer on the SC return regarding your retirement distributions. You can find those by going to the page titled Here's the income that South Carolina handles differently and looking under the Retirement category and clicking Start or Update beside Retirement Income Deduction.

@Robert070345

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