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MLBLACK
New Member

CO STATE RETURN ERROR

AGI on my 1040-SR, line 11 is a negative number.  Taxable Income, line 15 is zero.  On the CO return, line 1 should be the amount from 1040-SR line 15.  However, it is the AGI minus the deductions (1040-SR line 11 minus 1040-SR line 12).

 

I see no way to override line 1 on the CO State return.

2 Replies
ErnieS0
Expert Alumni

CO STATE RETURN ERROR

Your Form 104 is correct. Colorado wants you to use the negative number. Colorado says, "If your federal taxable income is a negative amount, be
sure to enter the amount as such on your Colorado return."

 

See Line 1 Federal Taxable Income in the DR 0104 Book.

MLBLACK
New Member

CO STATE RETURN ERROR

Thank you for your response.  However, this still doesn't seem correct to me.

 

The instructions in the DR 0104 book state the following:

"Line 1 Federal Taxable Income
Refer to your federal income tax return to complete this line:
• Form 1040 line 15
If your federal taxable income is a negative amount, be
sure to enter the amount as such on your Colorado return".

 

The amount on my Federal return, Form 1040 SR, line 15, is zero, so it seems to me that the amount on Line 1 of the CO return should be zero.

 

The Adjusted Gross Income, Form 1040 SR, line 11, is a negative number.  As I said, the number filled in on Line 1 of the CO return is the Adjusted Gross Income (a negative number) minus the amount on Form 1040 SR, line 12 (deduction amount), making it a large negative number.

 

Any further assistance you can provide would be greatly appreciated.

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