Colorado Income Tax Filing Guide - 2012 (Page 9 of 24) in pdf

Page 9

and amounts paid on behalf of nonresident partners or

Line 20

Alternative Minimum Tax

shareholders on the DR 0108. We recommend that you

Enter the amount of any alternative minimum tax by

clicking the EDIT button on Revenue Online, or by

read publication FYI Income 51 if this applies to you.

entering the amount on your paper filing. Generally if you

Line 27

Refundable Credits

pay alternative minimum tax on your federal income tax

Complete Form 104CR to claim various refundable credits.

return you will pay the same for your Colorado return. We

For Revenue Online, click the EDIT button to complete

recommend that you read publication FYI Income 14 if this

Form 104CR. Or, if filing a paper return, transfer the

applies to you.

amount from line 9 of Form 104CR to this line.

Line 21

Recapture of Prior Year Credits

Electronically submit through Revenue Online

Enter any historic property preservation credit, health care

any additional documentation for the credit(s)

professional credit, low income housing credit or other

specified. Or you may submit documentation with

credit claimed in prior years that must be recaptured.

the DR 1778, or attach the documentation to your

paper return.

Line 22

Subtotal

This line is automatically calculated by Revenue Online, or

Line 28

Subtotal

enter the sum of lines 19 through 21.

This line is automatically calculated by Revenue Online, or

enter the sum of lines 25 through 27.

Tax Credits

Line 29

Federal Adjusted Gross Income

Line 23

Nonrefundable Credits

Refer to your federal income tax return to complete

Complete Form 104CR to claim various nonrefundable

this line:

credits. For Revenue Online, click the EDIT button to

• 1040EZ form use line 4

complete Form 104CR. Or, if filing a paper return, transfer

• 1040 form use line 37

the amount from line 49 of Form 104CR to this line.

• 1040A form use line 21

Scan and submit any required documentation

If your federal adjusted gross income is a negative amount,

through Revenue Online, E-Filer Attachment,

or less than zero, be sure to enter the amount on your

or attach to your electronic return. Or, mail

Colorado return (in brackets if filing a paper return).

paper documentation with the DR 1778 E-Filer

Compare lines 24 and 28—if line 28 is greater, go to

Attachment form.

line 30. If line 24 is greater, go to line 49 (or to make a

Line 24

Net Tax

donation go to line 32).

This line is automatically calculated by Revenue Online, or

subtract line 23 from line 22.

Line 30

Overpayment

This amount is automatically calculated by Revenue

Line 25

Colorado Income Tax Withheld

Online, if applicable. Paper filers should calculate this line

If using Revenue Online, the sum of step 2 is automatically

by subtracting line 24 from line 28.

transferred to this line. Or, for paper returns, enter the sum

Line 31

Estimated Tax Carryforward

of all Colorado income tax withheld as reported on W-2,

Enter the amount, if any, you would like to be available for

W-2G or various 1099 statements.

2013 estimated tax.

Staple your Colorado withholding forms where

indicated. Or, if filing electronically, scan and

Line 32–46

Voluntary Contributions

submit them through Revenue Online E-Filer

If you would like to donate money to one of the

organizations available as part of Checkoff Colorado,

Attachments.

enter the desired amount here. See the back page of this

Failure to submit your withholding forms will result in

booklet for more information about each of these charitable

the credit being denied. Do NOT include withholding

organizations.

for federal income tax, income tax from another

Line 47

Subtotal

state, or local governments. Be certain to exclude

This line is automatically calculated by Revenue Online, or

amounts withheld from Colorado real estate sales by

enter the sum of lines 31 through 46.

nonresidents, nonresident beneficiary withholding,

or Colorado partnership or S Corporation income

Line 48

Refund

withholding for nonresidents as these specified

Subtract line 47 from line 30. This is the amount of your

refund. You have the option of authorizing a transaction

amounts should be listed on line 26.

by the Department to directly deposit these funds to your

Line 26

Estimated Tax

bank account. Otherwise, a refund check will be mailed to

Enter the sum of all estimated payments and credits

the address you have designated on this return. If you use

allocated to this tax period. Amounts can include estimated

Direct Deposit, you will receive your refund 1 to 2 weeks

tax credits carried forward from the previous tax year,

faster than a paper check.

quarterly estimated payments remitted, any extension

• Direct Deposit—Enter the routing and account

payment remitted, amounts withheld from Colorado real

numbers and account type. The routing number

estate sales by nonresidents on the DR 1079, nonresident

is 9 digits. Account numbers can be up to 17

beneficiary withholdings remitted with the Form 104BEP,

Colorado Income Tax Filing Guide - 2012 Page 9

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