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Are retirees taxed on their retirement income?

April 26, 2017income Retirees retirement TAXED

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Are retirees taxed on their retirement income?

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Generally, all income received by an Idaho resident, regardless of the source, is subject to Idaho income tax. Idaho does not tax Social Security benefits, benefits paid by the Railroad Retirement Board or Canadian Social Security benefits (OAS or CPP) Idaho does offer a retirement benefits deduction if you are age 65 or older, or if you are disabled and age 62 or older, and receive qualifying retirement benefits. Persons using the married filing separate filing status are not eligible for this benefit.