I am also looking for a slot to report my College Invest contributions on the Colorado income tax forms. When I printed out the CO "Subtractions from Income Schedule" form, it was under the "Subtractions from Federal Taxable Income" column. That shouldn't be an income source. It's a deduction on State forms only. I wanted to amend my 2019 Taxes to include the College Invest amount but I was stimied on the amending procedure. Please clarify.
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Yes, substitute "Subtractions" with "Deductions"
"Subtractions from Income Schedule" form, it was under the "Subtractions from Federal Taxable Income" column
It is a "Deduction from Federal Taxable Income"
The state return takes the income reported on your federal return and then is "deducting" or "subtracting" the credit for the college invest so that your income is less and you state tax will be less.
Yes, substitute "Subtractions" with "Deductions"
"Subtractions from Income Schedule" form, it was under the "Subtractions from Federal Taxable Income" column
It is a "Deduction from Federal Taxable Income"
The state return takes the income reported on your federal return and then is "deducting" or "subtracting" the credit for the college invest so that your income is less and you state tax will be less.
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