where to report ordinary business income/loss reported on K-1 for CO on NR state return?

[grapegrower]

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?

[MarilynG1]

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:

• are required to file a federal income tax return, and
• had taxable Colorado-sourced income."

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.