Retirement income in Wisconsin
Varies
Does Wisconsin Tax Retirement Income?
Short answer: Partly. Beginning in 2025, taxpayers 67+ may subtract up to $24,000 (single) or $48,000 (joint, both 67+) of retirement income, including pensions and 401(k)/IRA withdrawals, with no income limit. Claimants cannot also claim certain Schedule CR credits.
Government pensions: Pensions from certain Wisconsin and federal retirement systems for members enrolled before 1964 are fully exempt. Pensions, traditional IRA and 401(k) withdrawals are taxable federally either way; Roth withdrawals after 59½ (5-year rule met) are tax-free.
Records to keep: Keep your state return, W-2s and 1099s (1099-R, SSA-1099), and any state credit worksheets. Check your state revenue department's current-year instructions before you file.
Retirement income in Wisconsin
Varies
Individuals / Personal Taxes
Partly. Beginning in 2025, taxpayers 67+ may subtract up to $24,000 (single) or $48,000 (joint, both 67+) of retirement income, including pensions and 401(k)/IRA withdrawals, with no income limit. Claimants cannot also claim certain Schedule CR credits.
Business justification
Partly. Beginning in 2025, taxpayers 67+ may subtract up to $24,000 (single) or $48,000 (joint, both 67+) of retirement income, including pensions and 401(k)/IRA withdrawals, with no income limit. Claimants cannot also claim certain Schedule CR credits. Government pensions: Pensions from certain Wisconsin and federal retirement systems for members enrolled before 1964 are fully exempt. Pensions, traditional IRA and 401(k) withdrawals are taxable federally either way; Roth withdrawals after 59½ (5-year rule met) are tax-free.
Category
- Personal Tax Deductions