Thanks for your input on my first question, @nexchap. I will report all information on the K-1's in TT, as you suggested.
As it relates to my other two questions / how to enter the information from the K-1's on my Colorado tax return, I decided to contact the CO DOR. Unfortunately, they were only of limited help, as they indicated they are "examiners" not "preparers". They did however confirm that if I had a net passive loss at the federal level, this would "trickle down" to the state and I would not have to report it. They also stated that they are "not aware of" any increases or decreases that I would need to apply at the state level as it pertains to the federal K-1 amounts. Doing some googling on the subject, I found that Colorado conforms to the federal treatment of bonus depreciation (see here). As such, even though my K-1 shows a non-zero amount in the aforementioned "Potential Bonus Adjustment to Ordinary Income or Loss (-)" column, it appears the keyword is "potential" and I don't need to do anything with that amount.
