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GeoPhys
Returning Member

How do I get TurboTax to include tax credits in Line 4a of Colorado Form 204? Easy Step does not subtract the credit and the Line 4a, in Forms, is not editable.

Specific credit is a $5K Innovative Motor Vehicle Credit.  Absence of credit impinges on an Underpayment Penalty.
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2 Replies
CatinaT1
Expert Alumni

How do I get TurboTax to include tax credits in Line 4a of Colorado Form 204? Easy Step does not subtract the credit and the Line 4a, in Forms, is not editable.

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GeoPhys
Returning Member

How do I get TurboTax to include tax credits in Line 4a of Colorado Form 204? Easy Step does not subtract the credit and the Line 4a, in Forms, is not editable.

The problem was TurboTax calculated that I was subject to an underwithholding penalty in spite of the fact that I was due a refund.  I was able to solve the problem by backing up and clicking the option: "Let the state calculate the penalty," which they presumably do correctly.

The error was that a $5,000 Innovative Motor Vehicle Credit was not properly included in Line 1 of CO DR0204.  So a secondary solution is to OVERRIDE Lines 1 and 3 to obviate the penalty

What would really be nice, would be for TurboTax to fix the error in EasyStep, that is to access the $5,000 credit in the calculations.  I am willing to provide a sample, and to discuss the error and underlying mechanics.

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