Colorado State Taxes Keith Hamlyn

Primary CO Tax Forms for TY2018 Form 104 - Core CO State Income Tax 3 pages – Most information is transferred by TaxSlayer from the federal return or from the following addendums Addendums to CO Form 104 Form 104CR - Refundable & Non-refundable Credits 3 pages – Transfers to 104: Line 11 (non-refundable) & Line 23 (refundable) Child care expenses & CO-EITC – Auto calculate Long term care insurance credits – Tax counselor input DR 104AD - Adjustments (Subtractions) 1 page - Input for Line 5 of CO form 104 Automatically adjusts for pension income, USG interest, and “State Tax Refund” included in federal taxable income NOTE: Railroad Benefits are tax-free in CO and are eligible for a separate subtraction – Tax counselor input Also, charitable contributions (if applicable) – Tax Counselor input 2018 Tax-Aide Counselor Training

2018 Tax-Aide Counselor Training Less Used CO Tax Forms DR 104US - Consumer Use Tax Input to Line 14 of CO Form 104 Unpaid sales tax associated with on-line purchases – Tax Counselor input DR 104CH - Voluntary Contributions Input for Line 28 of CO form 104 Taxpayer can contribute a portion of their refund to any of the 20 charities listed – Tax counselor input DR 104PN - Part Year CO Resident DR 104X – To amend a previously filed CO return Colorado Tax Income Handbook has list/details of forms 2018 Tax-Aide Counselor Training

2018 Tax-Aide Counselor Training CO Form 104 – CO Income tax Note: Lines 1-4 are filed in by TaxSlayer 2018 Tax-Aide Counselor Training

Form 104CR – Credits (Page 1) CO TaxSlayer Guide, Pages 18-22 2018 Tax-Aide Counselor Training

Form 104CR - Credits (Page 3) 2018 Tax-Aide Counselor Training

DR 104AD – Adjustments CO TaxSlayer Guide, Pages 15-17 2018 Tax-Aide Counselor Training

DR 104US – Uncollected State Tax CO TaxSlayer Guide, Page 23 2018 Tax-Aide Counselor Training

DR 104CH – Voluntary Contributions CO TaxSlayer Guide, Pages 15-17 ETC... 2018 Tax-Aide Counselor Training

Resources – CORE (“Wiki”) CORE Website: https://cotaxaide.org/ta/home/ Select CO Income Tax Handbook OR CO TaxSlayer Guide Both on left hand side of page ALSO At the bottom of the page, select Colorado 104 for a list of resources to assist with the Colorado return. 2018 Tax-Aide Counselor Training

2018 Tax-Aide Counselor Training Other Items Part Year Resident (Form 104PN) Only the CO State Tax portion is in-scope The Tax Counselor may have to calculate portion of Federal Income the client received while resident in CO See “CO Part Year Resident” worksheet on CORE Pages 5-7 of TaxSlayer Guide for Colorado Form 104, Lines 17 & 18 “Prior Year Carry Forward” & “Estimated Payments” Page 12 of TaxSlayer Guide for Colorado Form 104, Line 27 “Tax Credit Carry Forward” to 2019 Possible Tax Penalties – Calculation is Out-Of-Scope Inform the taxpayer that the CO Dept of Revenue may assess a penalty if they owe more than $1,000. 2018 Tax-Aide Counselor Training

Resources - TaxSlayer Video 2018 Tax-Aide Counselor Training

2018 Tax-Aide Counselor Training Questions? 2018 Tax-Aide Counselor Training