In a test return I completed, any increases inputted into TurboTax flow to Form 104, Line 8. This increases my total Colorado taxable income. The backup statement in TurboTax state they are Colorado adjustments from Partnership and Fiduciary K-1s. Instructions for Form 104 state that these adjustments are increases to federal taxable income and any other Colorado additions from Line 11 in Column A on any Colorado K-1 (DR 0106K) issued to you ...
To summarize, Line 11 of DR 0106K name the following additions:
- The partner’s distributive share of any addition required for non-Colorado state or local bond interest;
- Business expenses deducted by the partnership in the calculation of federal taxable income for wages or remuneration paid to an unauthorized alien for the physical performance of services in Colorado;
- Expenses deducted by the partnership in the calculation of federal taxable income that were incurred with respect to expenditures made at, or payments made to, any club that is licensed pursuant to section 44-3-418, C.R.S., that has a policy to restrict membership on the basis of sex, sexual orientation, gender identity, gender expression, marital status, race, creed, religion, color, ancestry, or national origin.
In addition, as summarized here, If the CO K-1 on any line is more than the federal K-1, you will enter the description of the line in the long box on the Increases section and the adjustment (increase) amount to get to the CO amount. Alternatively, if a line on the CO K-1 is less than the federal K-1, you will enter the description of the line in the long box on the Decreases section and the adjustment (decrease) amount to get to the CO amount.
If none of these situations apply, then there would be nothing you need to enter.
@Cincolo
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