Fillable Form 112x - Amended C-Corporation Income Tax Return

Instructions

The 2014 Form 112X, Amended C Corporation Income Tax

Colorado net operating losses may not be carried back

to an earlier year. They may be carried forward for 15

Return, is used to correct your 2014 Corporation income

tax return. File the return for free using Revenue Online.

years from tax years beginning before August 6, 1997, and

You can file on paper if you cannot file electronically,

20 years from tax years beginning on or after August 6,

but please note that filing on paper can increase return

1997. A separate amended return must be filed for each

year from which a net capital loss is carried back. For

problems and delay refunds. For more information or any

questions pertaining to income, deductions, modifications,

example, if the taxpayer incurs net capital losses in 2013

and 2012, both of which are carried back to tax year 2011,

credits, etc., refer to the income tax book for 2014 or call

one amended return must be filed reflecting the carry back

the Department of Revenue at

(303) 238-SERV (7378). You can also obtain forms,

from one year and a second amended return must be

filed reflecting the subsequent carryback from the other

information and the FYIs referenced herein online at

year. If a taxpayer filed their original 2011 return reporting

a federal taxable income of $100,000 and then incurs net

Attachments: Attach all required schedules and supporting

capital losses of $25,000 and $35,000 in 2013 and 2012

certifications to this amended return even if there is no

respectively, one amended return must be filed reporting

change from the original return. (For example: Schedule

the 2013 loss reducing the 2011 federal taxable income

SF, Form 112CR, DR 0074, etc.) Failure to attach this

to $75,000 and a second amended return must be filed

documentation will result in the disallowance of credits,

reporting the 2012 loss further reducing the 2011 federal

subtractions or reduced apportioned income.

taxable income to $40,000.

Lines 33 through 40 compute the amount you owe to the

Protective Claims. If this amended return is being filed to

state on the amended return. Any decrease in the amount

keep the statute of limitations open pending the outcome

of the overpayment (line 34) or increase in the amount

of a court case or tax determination in another state that

owed (line 35) will indicate that an amount is owed with

affects your Colorado return, check the protective claim box

the amended return. See FYI General 11 for assistance in

under reason for filing corrected return.

computing the amount of interest to enter on line 36. If you

have previously been assessed a delinquency penalty or

Payment

Taxpayers can now visit

estimated tax penalty and this amended return causes the

amount of penalty to change, enter the increased penalties

to pay online. Online payments reduce errors and provide

instant payment confirmation. Revenue Online also allows

on lines 35 and/or 36.

users to submit various forms and to monitor their tax

Lines 40 through 44 compute your refund of credit

account. Please be advised that a nominal processing fee

available on the amended return. Any increase in the

may apply to electronic payments.

amount of the overpayment (line 40) or decrease in the

amount owed (line 41) will indicate that an overpayment

If you are unable to remit electronically, make your check

is available with the amended return. The overpayment

payable to the Colorado Department of Revenue and mail it to:

can be credited to estimated tax (line 43) for the tax year

Colorado Department of Revenue

following the period on the amended return, or can be

Denver CO 80261-0006

requested as a refund (line 44).

If you are not submitting your return electronically, please

Statute of Limitations. The statute of limitations for filing

use form DR 0900C to remit your payment. Otherwise, your

a Colorado claim for refund is generally four years from the

account might not be properly credited.

original due date of the return or three years from the date

of the last payment of tax or the year involved, whichever

is later. In the case of an investment credit or capital loss

carryback, the claim must be filed within four years of the

due date of the return for the year during which the credit or

loss arose. See FYI General 18.

Manage your account.

File and pay online.

Get started with Revenue Online today!

Form 112x - Amended C-Corporation Income Tax Return - 2014 Page 4

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