Railroad Retirement Worksheet

Current Tax Year: Taxpayer's Name:
Income Worksheet:

TaxSlayer incorrectly includes RR retirement benefits in the retirement exclusion. But RR retirement benefits are not taxable in any state, thus has its own exclusion line. Consequently, other retirement exclusions are capped at the 20K/24K limit prematurely. This calculator removes the taxable portions of Tier 1 RR benefits from the CO retirement amount and totals those RR retirement amounts, all to be entered on the CO "Subtractions from income" page.

NOTE: If the person(s) with RR retirement benefits have not reached the maximum pension exclusion (see the CO Pension Exclusion Worksheet), the outcome will be correct, no change is necessary and you do not need to use this worksheet.
Income DescriptionSourceTP AmountSP Amount
Eligible Pension IncomeLine 1
Actual Allowable ExclusionLine 3
Social Security BenefitsForm 1099-SSA, Box 5
Taxable Social Security BenefitsForm 1040, Line 20b
Tier I BenefitsRRB 1099, Box 5
Tier 2 BenefitsRRB 1099-R, Taxable amount
The entry above shown as        may be an error. Enter 0 if appropriate.

State Corrections:

Enter the following amounts in the State Section, "Subtractions from Income" page:

Enter in Pension/Annuity Income page:
Enter in Railroad Benefit Subtraction, Tier I or II Only page:
Please send corrections and suggestions to jeff@bogarthome.net