Form 105 - Colorado Fiduciary Income Tax Return

Form 105 instructions

general inFormaTion

to be withheld is 4.63% of the beneficiary’s share of said income,

This filing guide will assist you with completing this Colorado

Income Tax Return. once you finish the form, file it with a computer,

computed without exemption, unless the nonresident beneficiary

smartphone, or tablet using our free and secure Revenue online

files a timely return of his total income from sources within Colorado,

in which case the fiduciary shall withhold and pay only the amount of

service at or, you may file using

tax disclosed by the beneficiary’s return. use Form 104BEp on the

private eFile software or with a paid tax preparer. By filing your return

inside back cover to make the payment. File Form 104BEP using

electronically, you significantly reduce the chance of errors and you

the name, address and social security number of the beneficiary.

will receive your refund much faster. If you cannot file electronically

Photocopy additional copies of Form 104BEP as needed. Payment

for any reason, mail the enclosed forms as instructed.

is due at the time the income is distributed.

Please read through this guide before starting your return. All

Period to be covered by the return. The return must cover the

Colorado forms and publications referenced in this guide are

same tax period as is used for federal tax purposes.

available for download at — the official

Colorado Taxation Web site.

Amending your return. A change or correction on

your return may be made through Revenue online,

account number. A Colorado account number is not assigned

If you are unable to amend

to a fiduciary account until the first tax return has been filed. If the

online, complete a corrected Form 105. Check the amended return

eight-digit account number has been assigned, please enter it on

box at the top of the corrected Form 105. Any adjustment made on a

the return. This will speed processing of the return and the issuance

federal amended return must be reported and the Colorado income

of any refund.

tax adjusted accordingly. Any adjustments made by the IRS must be

Resident estates and trusts. A resident estate is defined as an

reported to Colorado by attaching the revenue agent’s report (RAR)

estate of a deceased person which is administered in Colorado in

to the amended return. Attachments may be uploaded in Revenue

any manner other than by an ancillary proceeding. A resident trust

online. The statute of limitations for assessment will not run on any

is defined as any trust which is administered in Colorado.

year for which such adjustments are not reported.

Nonresident estates and trusts. The Colorado tax of a nonresident

When and where to file. The Colorado fiduciary income

estate or trust shall be what the tax would have been were it a resident

tax return is due by the fifteenth day of the fourth month

estate or trust apportioned in the ratio of the Colorado taxable income

following the close of the taxable year. See form DR 0158-F

to the modified federal taxable income. use schedule E to make

for automatic extension of time for filing. Electronically file at

the apportionment.

or, if you cannot file

electronically for any reason, mail Form 105 to: Colorado

Requirement for filing. Every resident estate or trust or every

Department of Revenue, Denver, Colorado 80261-0006.

nonresident estate or trust with Colorado source income must file

a Colorado income tax return if it is required to file a federal income

Additional information available. Forms, FyIs and

tax return or if it has a Colorado tax liability.

other information is available on the Taxation Web site at

or you can call 303-238-SERV (7378)

information returns. Any estate or trust that is required to file a

for information.

federal information return (such as the 5227 or 1041A) must also

line By line insTrucTions

file Form 105 with Colorado. Complete the appropriate schedules

to provide beneficiary and income information.

First, complete the federal income tax return to be filed with the

Return for decedent. If an executor or administrator is required to

IRs–form 1041. you will use the information from that form to

file a federal income tax return for a decedent who was a Colorado

complete this Colorado income tax return.

resident or a nonresident with Colorado source income, he/she is

Line 1 Federal Taxable Income

required to file a Colorado return for such decedent.

Enter the federal taxable income of the estate or trust.

If a final determination of tax liability is requested for the estate

Line 2 Additions to Taxable Income

or trust of a decedent, the request must be submitted on form

Enter the sum of the following:

DR 0253. Such request must be submitted under separate cover.

• Any state income tax claimed as a deduction in computing federal

Estimated tax payments are not required for a fiduciary return.

taxable income.

However, if you want to make estimated payments, use estimated

• Any interest income accrued or received during the taxable year on

tax Form 105EP to submit your payment.

obligations of any state or subdivision thereof other than obligations

of the state of Colorado or a subdivision thereof. The amount of

Withholding for nonresident beneficiaries. Every fiduciary of

interest entered shall be net of any bond premium amortization

an estate or trust, with a nonresident beneficiary who receives net

and any expenses required to be allocated to such interest income

income from real or tangible personal property within Colorado, shall

under provisions of the internal revenue code.

withhold and pay taxes to the Department of Revenue out of the

income to be distributed to such nonresident beneficiary. The amount

Page 3

Form 105 - Colorado Fiduciary Income Tax Return - 2011 Page 3

Related Articles

Related forms

Related Categories