Subtraction Modification of Pension and Annuity Income
Connecticut Subtraction Modification of Pension andAnnuity Income
42% of Pension or Annuity Income
If your filing status is single, married filing separately, or head of household with federal AGI for the taxable year of less than $75,000 or married filing jointly with federal AGI of less than $100,000, and you receive income from certain pensions and annuities, such as from a defined benefit plan, 401(k), 403(b) or 457(b) plans, you qualify for this subtraction modification.
The following amounts are not included in Line 5b of the federal income tax return and should not be added when calculating the pension and annuity amount for Line 48b of Form CT‑1040:
• Disability pensions received before the recipient met the minimum retirement age set by his or her employer;
• Corrective distributions of excess elective deferrals or other excess contributions to retirement plans; and
• Distributions from traditional IRAs, Roth IRAs, simplified employee pension (SEP) IRAs, and savings incentive match plans for employees (SIMPLE) IRAs.
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