Colorado K-1 box 15 Partner's or shareholder's share of tax paid with SALT Parity election

[Mary128]

When inputting Colorado State Tax Return, I have a Colorado K-1 that shows box 15 with Partner's or shareholder's share of tax paid with SALT Parity Election.  Where do I input this amount in turbo tax? It seems like I need it on the DR104CR but no idea how to get the amount on that form.  (It never asked the question when I input the federal K-1 information so it must be in the State return portion where I input it).

Also on the same Colorado K-1, box 9 shows a state income tax add back.  When I try and input on the CO state return under Qualified Business income deduction addback, when I press start or revisit it just sends in a loop back to the same screen so I can't input a number in turbo tax.  Any suggestions?

[AliciaP1 · Accepted solution]

Your box 15 amount needs to be entered on the Colorado Credits and Taxes screen on the line Electing Pass-Through Entity Owner Credit.  Your box 9 information needs to be entered as a Schedule K-1 Increase rather than the QBI Deduction add-back because the amount reflects State Income Tax Paid by the business and is not deductible to the state.

To enter these amounts in TurboTax you can follow these steps:

1. Within your return start your State Taxes 
2. On the Schedule K-1 Increases screen enter the entity name from your K-1 and the Colorado amount shown in box 9
3. Continue to the Take a look at Colorado credits and taxes screen
4. Scroll down to the Business and investment credits section and click Start for Electing Pass-Through Entity Owner Credit
5. Enter the amount from box 15
6. Proceed entering/reviewing your return

Be sure to go back and remove the amount entered for the QBI Deduction add-back as well.