PERA/DPSRS subtraction worksheet

Use the following worksheet to determine the amount, if any, that can be entered as a PERA/DPSRS subtraction on the Colorado income tax return.

PERA/DPSRS subtraction worksheet Calculation Dollar Amount 1) Enter the amount of contribution to PERA or DPSRS that was previously taxed for Colorado income tax purposes but not for federal income tax purposes. For PERA members, this would be 8% of the state, local government, or public school salary or wages earned for the period July 1, 1984, through December 31, 1986. For DPSRS members, this would be the amount contributed to DPSRS during 1986. $___________ 2) Enter the amount claimed on prior year’s Colorado income tax returns as a PERA/DPSRS subtraction. $___________ 3) Subtract line 2 from line 1. $___________ 4) Amount in box 2a of 1099-R (federally taxable amount). $___________ 5) The potential current year PERA/DPSRS subtraction is the smaller of the amount on line 3 or line 4. $___________