I paid this at closing and want to get credit for it. I included it lumped in with "sales expenses" total (under Federal) as this is how it was mentioned on my settlement statement. However, I don't see it transferring to my CO State return. I'd like to see it entered in a designated area. I need the credit in State. Thx!
Enter the Colo. tax on Form DR 1079 in the federal return so that the withholding can be included in your federal itemized deductions. TT/Colo will pick it up from there. Be sure to remove that amount from your "sales expenses"
Federal Taxes tab (or whatever your "Premier" has - this is the "Deluxe" path)
Deductions and Credits
I'll choose what I work on
Scroll down to Estimates and Other Taxes Paid
Select Other Income Taxes
Under Other Income Taxes Paid in 2018 is
Withholding not already entered on a W-2 or 1099
Enter the $$ withheld in the State box (round to nearest dollar - don't enter pennies) and select Colorado from the dropdown.
Now, if your Colo. main form has a separate line for that withholding then TT/Colo will ask about it - watch for it and follow along. In any case, review your Colo return and make sure you're getting credit for that amount.
Enter the Colo. tax on Form DR 1079 in the federal return so that the withholding can be included in your federal itemized deductions. TT/Colo will pick it up from there. Be sure to remove that amount from your "sales expenses"
Federal Taxes tab (or whatever your "Premier" has - this is the "Deluxe" path)
Deductions and Credits
I'll choose what I work on
Scroll down to Estimates and Other Taxes Paid
Select Other Income Taxes
Under Other Income Taxes Paid in 2018 is
Withholding not already entered on a W-2 or 1099
Enter the $$ withheld in the State box (round to nearest dollar - don't enter pennies) and select Colorado from the dropdown.
Now, if your Colo. main form has a separate line for that withholding then TT/Colo will ask about it - watch for it and follow along. In any case, review your Colo return and make sure you're getting credit for that amount.