Yes, there is -- if you've entered gambling losses on your federal return, those will be reflected on your Colorado return.
Line 1 of your Colorado return starts out using the taxable income from your federal Form 1040-series form. That means that any allowable gambling losses you included on your federal return are already accounted for on your state return.
To enter your gambling losses in TurboTax Online:
- Open TurboTax Online
- Select Tax Home in the left pane
- On the Hi, let's keep working on your taxes! screen, select the dropdown on the right side of the Deductions & Credits box, then select Start, Continue, or Pick up where you left off
- Scroll down and select the Show more dropdown to the right of Less Common Income
- Select Start or Revisit to the right of Gambling Winnings
- You'll first be asked to enter winnings from any Forms W-2G you might have received. Enter all W-2G information. When you're done with those, select Done on the W-2G info page
- You'll then be asked to enter any non-W-2G winnings. Enter the total amount, if any, then select Continue
- Now you'll come to a screen called Let us know if you had any gambling losses in 2022. Enter your gambling losses into the field on the screen and select Done
Note that you can't claim gambling losses unless you itemize deductions, and the TurboTax program won't allow you to enter losses larger than your total winnings.
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