Is Colorado Schedule K-1 Increases "Increase Amount" the same as Box 1 on a Schedule K-1 Form 1120-S?

No.  If you received a separate Colorado K-1 in addition to the federal K-1, first compare the amounts on both forms.

1.  If the information on the state K1 is same as the Federal K1, you do not report the state K1--the information will flow from the K-1 you entered on the federal side.

2.  If there are not the same, then you have to enter the difference as adjustments to Federal Income in the state section of the program.

• If the amount on the state K-1 is higher than the federal K-1, enter an addition ("Increase amount") to federal income on your CO return.
• If the amount on the state K-1 is lower than the federal K-1, enter an subtraction to federal income on your CO return.

What amounts on the federal K-1 are you comparing to the CO state K-1?

I am also curious about this. We're encountering the same issue.

Which line are you referring to, ordinary business income (loss)?