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Question

I'm 48 and received a $1,270 mandatory disbursement from my deceased aunt's IRA. It's federally taxable, but does any of it qualify for the CO annuity exclusion?

Forum|Forum|1 year ago
February 23, 2025
1 reply
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No, IRA distributions do not qualify for the Colorado annuity exclusion. Individual taxpayers under age 55 may not claim the subtraction unless the pension and annuity income is a death benefit. Pensions and annuities are made in a series of payments at regular intervals (such as weekly, monthly, or yearly) over a period greater than one year.

See Income Tax Topics: Social Security, Pensions, and Annuities(opens in new window.