Retirement Pension or Annuity Subtraction
Who Must File?
Due Dates & Extensions
W-2 & 1099 Statements
Donate Your Refund to Charity
New Colorado Residents
Military Service Members
Request a Tax Return Copy
Frequently Asked Questions
Colorado allows a pension/annuity subtraction for:
- Taxpayers who are at least 55 years of age as of the last day of the tax year
- Beneficiaries of any age (such as a widowed spouse or orphan child) who are receiving a pension or annuity because of the death of the person who earned the pension
- Qualified taxpayers who are under age 65 as of the last day of the tax year can subtract the smaller of $20,000 or the taxable pension/annuity income included in federal taxable income.
- Taxpayers who are 65 years of age or older as of the last day of the tax year can subtract the smaller of; $24,000 or the taxable pension/annuity income included in federal taxable income.
For more information, review the FYI Income 25 guidance publication.