How do I amend my 2023 Colorado state tax return to fix the state underpayment penalty?
Some Colorado TurboTax customers have overpaid their 2023 state taxes due to an error with the Estimated Tax Calculation.
If we notified you, we recommend you submit an amended state tax return as soon as possible. By filing an amended return, you’ll be able to get the money back in your pocket where it belongs!
Please select your version of TurboTax below and follow the instructions.
TurboTax Online
On the Tax Home screen, scroll down to Your tax returns & documents and select 2023. If you have not already done so, we recommend that you print a copy of your original 2023 tax return for your records by selecting Download/print return (PDF).
Select Amend (change) return, then Amend using TurboTax Online.
Enter “TO CORRECT THE UNDERPAYMENT PENALTY” as the reason for amending.
Follow the instructions provided by TurboTax to efile the amended state tax return.
Save a copy of your amended state tax return for your records.
TurboTax CD/Download
Write down the original refund or balance due amount for your Colorado state income taxes. We recommend you check the paper/PDF copy of your return(s), or your banking records to verify the correct amount.
Open the TurboTax Desktop software for the year you're amending. For example, you must amend your 2023 return in the 2023 version of TurboTax.
Before you make any changes, select File then Save As... then add "Amended 2023 return" to the file name to preserve your original return.
Under Need to File an Amended Return? select Amend a Filed Return.
Select Amend for the return you need to amend. If the return you need doesn’t appear as an option, select Find a Tax File to find and load the return.
Enter “TO CORRECT THE UNDERPAYMENT PENALTY” as the reason for amending.
Follow the instructions provided by TurboTax to efile the amended state tax return.
Save a copy of your amended state tax return for your records.
If you have questions, call 844-333-2161 (Monday–Friday, 6 AM to 6 PM MT) to speak with an expert. Mention 2023 CO Underpayment of Estimated Tax Calculation so they know what you’re calling about.
