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Business & farm
You have to allocate the income to CO. Everything gets transferred to your state returns and is taxable on your resident return (the $800 fee is separate and does not apply to you since your LLC is not registered in CA). When you go through the nonresident return (CO) - you will go through all of your income, but allocate nothing to CO except for the business Schedule C income. When asked about the other income amounts, enter $0 for Colorado.
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‎April 22, 2024
3:11 PM