Taxpayer's Name:
Current Tax Year:	TP is age 65+    SP is age 65+

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.

• The Pension Exclusion Worksheet referenced is printed with the CO return immediately following the CO 104.
• Other input comes from the taxpayer's documents or their entry in TaxSlayer.
• The taxable amount of Social Security benefits from Form 1040 is used to determine how much of the 1099-SSA and RRB 1099 Tier I amounts are taxable. If that box turns red, verify all 1099-SSA and Tier 1 amounts also.
• If any income amounts are subsequently adjusted (e.g.: by QR), remove the state corrections from TaxSlayer and re-calculate.

Income Description		Source	TP Amount	SP Amount
PENSION EXCLUSION WORKSHEET (See return's PDF):
	Eligible Pension Income	Line 1
	Actual Allowable Exclusion	Line 3
SOCIAL SECURITY AMOUNTS:
	Social Security Benefits	Form 1099-SSA, Box 5
	Total Taxable Social Security Benefits	Form 1040, Line
RRB AMOUNTS:
	Tier I Benefits	RRB 1099, Box 5
	Tier 2 Benefits	RRB 1099-R, Taxable amount

The entry above shown as        may be an error. Enter 0 if appropriate.

Click to calculate

State Corrections:

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

Enter in Pension/Annuity Income:
Taxpayer:
Spouse:
Enter in Railroad Benefit Subtraction, Tier I or II Only:
(Taxpayer + Spouse):

Calculation details:

Taxable Social Security Amount: ()
Taxable RRB Tier 1 Amount:
Taxable RRB Tier 2 Amount:
Taxable Pension/Annuity Amount:
Total Retirement Amount:
Correct Social Security Exclusion Amount:
TaxSlayer shows:
Adjustment needed:
Correct Railroad Exclusion Amount:
TaxSlayer shows:
Adjustment needed:
Correct Pension/Annuity Eligible Amount:
TaxSlayer shows:
Adjustment needed:
Correct Pension/Annuity Exclusion Available:
Amount Useable:
TaxSlayer annuity deducted:
TaxSlayer Tier 1 deducted:
Adjustment needed: