Mitch (66) and Betsey (67) are married and file a joint return. They are both retired and
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Mitch (66) and Betsey (67) are married and file a joint return. They are both retired and live in Colorado. Their only income in the current tax year is $29,000 from Mitch's 401(k), and $22,000 from Betsey's IRA. These amounts were included in federal taxable income and are not considered a premature distribution. How much of this income may they subtract on their Colorado return?
- $51,000
- $46,000
- $40,000
- $0
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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