CO K1 Inputs don't match form?

[mikejstein]

Hello,

Unfortunately I have a K1 with many states. The input regarding the K1 for Colorado is an outlier... The TurboTax interface asks about "Schedule K1 Increases" and "Decreases".

How is this info gleaned from the CO Schedule K-1 Equivalent form? 

Thanks

[ThomasM125]

When you mention schedule K-1 increases and deceases, is this a question you are seeing in the Colorado state section in TurbTax? And is there any other information associated with it that would allows us to zero in on what is being referenced, such as a form or schedule, box or line number?

[mikejstein]

I'm referring to how TurboTax seems to be asking about the Colorado K1 items (yes, in the State input--not Federal). The Colorado form looks like most of the other States' forms, but the TurboTax input for CO is not at all similar. 

[ThomasM125]

OK, I see the question:

I don't know the specifics on this, but you can increase or decrease the income reported on your K-1 schedule since the tax treatment for it may be different on your Colorado return than on your federal tax return.

An example would be if your K-1 reported interest income on federal obligations, it would be taxable on the federal return but not on the Colorado return. 

[mikejstein]

That is a less than convincing answer, especially given that the inputs being asked for are so drastically different than the CO tax forms (CO Schedule K-1 Equivalent). 

[reoleary]

I am having problems with this too. I don't understand how to input information from the Colorado K-1. TurboTax is asking questions that don't seem to line up well with information provided on the K-1. It should allow us to fill in boxes like most other topics. Please fix this

[tgalluc1]

did you get this figured out by any chance? i am having the same issue - the questions turbotax asks are not intuitive relative to the colorado k-1.  very different than other states.  i am a non resident that earned rental income in the state and the k-1 itself is very logical, just have no idea how to translate it into turbotax. thank you!

[djesterb]

I also have the same questions. This is super confusing when you don't even understand how to look at tax forms. I mean that's why we are using Turbo Tax right? So we can easily input and it does the figuring out for us. I too don't even understand this question. I don't know if my K-1 is showing increases or decreases so I don't know what to input. I saw on a different thread we should compare out federal K-1 to our state K-1 and write in the different but I don't even know how to compare them and where the K-1 info is. 

[DawnC]

You only need to enter items specific to CO.   The K-1 information is entered on the federal return, and TurboTax transfer that tax data to your state returns.   Only the CO adjustments (additions and subtractions or in the case of CO - increases and decreases) need to be entered on the CO state return.    Is there anything on the K-1 for CO that is different from the federal?  @tgalluc1 

[yhlook]

When inputting K-1 in my federal tax return, where do i input the state that the k1 income is sourced?