No, TurboTax does not support the entry of more than one vehicle for the Colorado Innovative Motor Vehicle Credit. If you have
more than one vehicle qualifying for this credit, a separate Form DR
0617 for each vehicle is required to be completed and attached to your Colorado income
tax return.
You will need to mail in your Colorado state return and the
income tax return claiming
the credit must include the following attachments:
- A completed Form DR 0617 for each vehicle
- A copy of the invoice, purchase agreement, or lease agreement for the qualifying
motor vehicle
- A copy of the Colorado vehicle registration for the qualifying motor vehicle
- Any credit claimed for the purchase of a used vehicle must be accompanied by a
Vehicle History
- Report" showing the vehicle was not previously registered in
Colorado. A “Vehicle History Report” can be obtained from any of a number of
third party companies that offer such reports. An internet search for the
phrase "Vehicle History Report" should provide a listing of companies
that can produce this report.
The innovative motor vehicle credit is a refundable credit. The
allowable credit is first applied against the income tax liability of the
person who purchases, leases, or converts the qualifying motor vehicle. If the
credit exceeds the tax due, the excess credit will be refunded.
For additional copies click here: Form DR
0617
For instructions and specific vehicle criteria please see the
Colorado Department of Revenue:
FYI Publications
- Income Tax (choose
Income 67)
