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Form Income 18 - Colorado Pension Exclusion For Married Couples When Both Spouses Receive Social Security Page 2

EXAMPLE: John Williams had 1998

• FYI Income 8 “Credits and Deferrals

Social Security benefits of $8,065. His

for the Elderly and Disabled in Colo-

wife Mary had Social Security benefits of

rado;

$13,500. The amount of the benefits

• FYI Income 16 “Modification for

included in their federal taxable income

Recipients of PERA or Denver Public

was $5,965.

Schools Retirement Benefits;

They would compute their proration

• FYI Income 25 “Colorado Pension

schedule as follows:

Exclusion.”

1) John’s benefits

8,065

Single FYIs are free from the Taxpayer

Service Division. They may be obtained

2) Mary’s benefits

13,500

at any statewide Taxpayer Service

3) Total benefits

21,565

Center; or by writing to the Colorado

4) John’s percentage

37.399 %

Department of Revenue, 1375 Sherman

5) Mary’s percentage

62.601 %

St., Denver, CO 80261; or by calling the

6) Taxable benefits

5,965

DOR Forms Hotline at (303) 232-2414.

Please use the FYI number (General 1,

7) John’s share of the

Sales 9, etc.,) when ordering FYI publica-

taxable benefits

2,231

tions. FYIs and commonly used forms

8) Mary’s share of the

are available on Internet at

taxable benefits

3,734

under “Government” and

If John also had civil service pension

“Department of Revenue.”

income of $18,500 included in the joint

For a complete set of FYIs (approximately

federal taxable income, his Colorado

pension exclusion would be limited to the

130, on sales, income, excise and with-

holding taxes), you may purchase The

$18,500 civil service pension plus $1,500

Complete Book of FYIs at low cost from

of his Social Security benefits for a total

the State Forms Center, Division of

of $20,000. If Mary had no other pension

Correctional Industries, 4200 Garfield

income, she could claim an exclusion of

St., Denver, CO 80216. An order form is

$3,734, her share of the benefits included

contained in FYI General 1, or call the

in federal income.

State Forms Center, (303) 321-4164, for

ordering information.

FURTHER INFORMATION

For more information on related topics,

consult the following DOR publications:

• FYI General 1 “Department of Rev-

enue Publications”;

• FYI General 8 “The FYI Program -

Index and General Information”;

• FYI General 6 “Part-Year and Nonresi-

dents”;

PAGE 2 OF 2

INCOME 18 (09/98)

Form Income 18 - Colorado Pension Exclusion For Married Couples When Both Spouses Receive Social Security Page 2

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