I've got an ordinary business loss reported on a partnership K-1 for CO. There is a net passive loss for 2023 but my understanding is that I need to report it so it can be carried over to the future for use if/when there may be capital gains. Where do I enter the ordinary business loss in TT on the CO state return?
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Per Expert @JamesG1:
This Colorado Department of Revenue Taxation Division website states:
"Nonresident Definition
A nonresident is an individual who did not reside within the boundaries of Colorado at any time during the tax year. However, the person may have temporarily worked in Colorado and/or received income from a source in Colorado. A nonresident is required to file a Colorado income tax return if they:
By this definition you would not be required to file a Colorado return. However, keep track of your losses to use in the future, as you suggested.
Here's more discussion on State Return for K-1.
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