COLORADO STATE RETURN

[JnJTaxes20214Me]

Hello

I am trying to make sense of something I read on the Turbotax site.  I can't figure it out.  I received unemployment during February thru July.  I live in Colorado.  This is my Question:   Is TurboTax done with updating everything surrounding the unemployment subject?? I need to file as I still need income.  I keep getting messages that updates about Colorado will continue to be worked on?  Thank you in advance.   🙂

[ErnieS0]

You can file Colorado. The state has not recognized the federal $10,200 exemption for unemployment benefits for households with less than $150,000. TurboTax will add the amount back to your CO income tax form.

Related Resource:

• Colorado provides guidance on American Rescue Plan related to taxable UI benefits

[JnJTaxes20214Me]

Thank you! For anyone wanting to move to Colorado do your homework.  The taxes in this state are the most I have ever paid in any state ever!  City taxes, road taxes, sales tax, food tax, convenience tax , county tax, etc. Even the utility companies have fees that used to be part of the bill in other states.  They nickel and dime you to death.  Very nice place but be prepared to spend more dollars than you can imagine.