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Colorado. In 2025, Colorado will continue to tax the benefits of Social Security recipients. Of note, though, is the fact that recipients in Colorado who are between the ages of 55 and 64 and have ...
Colorado. Colorado reduced its income tax rate to 4.25% in ... 2025 tax year — 65% of Social Security benefits allowed ... If married, filing jointly. 85% of Social Security benefits taxed for ...
Here are the nine states that tax Social Security benefits in 2025: Colorado. Connecticut. Minnesota. Montana. New Mexico. Rhode Island. Utah. Vermont. West Virginia. If your state is on the list ...
Finally, the income limit for the Saver’s Credit, a nonrefundable tax credit worth up to $1,000 ($2,000 if married filing jointly) for taxpayers who contribute to a retirement account is $79,000 ...
Colorado recently reduced its state income tax to 4.25% from 4.4% starting with the 2024 tax year, which applies to all of your taxable retirement income, including Social Security benefits. But ...
In 2025, Colorado residents between the ages of 55 and 64 will be exempt from state Social Security taxes if they have an AGI of less than $75,000 for single filers and $95,000 for joint filers ...
Tax Filing Status. 2024 MAGI. 2025 MAGI. Traditional IRA Deduction. Single individuals covered by a workplace retirement plan. $77,000 or less. $79,000 or less
For example, in Colorado, residents ages 65 and older have been able to fully deduct federally taxed Social Security benefits on their state income tax returns since tax year 2022. For 2025, that ...