Maryland allows you to subtract some of your retirement income if you meet certain qualifications. The subtraction will apply only if:
- You were age 65 or older, OR totally disabled, OR your spouse was totally disabled at the end of the tax year
- You included your retirement income in your federal adjusted gross income.
How much can I subtract?
Currently the maximum allowable exclusion is $34,300 per taxpayer.
Where do I enter the subtraction?
- State Section
- Subtractions to Income
- Pension Exclusion