PTET (Pass Through Entity Tax) - COLORADO

When you enter your CO S-Corp tax return information through the interview steps in TurboTax Business, you will mark each non-resident shareholder that you wish to be included in the composite return in order to elect to pay the taxes.  To qualify to pay shareholders' taxes the S-Corp must be filing for more than one non-resident shareholder.

In TurboTax Business when going through the Colorado S-Corp tax return questions:

1. When you get to the Nonresident Shareholder Filing Summary screen, click Edit for each of the non-resident shareholders
2. Mark Include in Composite Filing
3. Click Done and answer the questions about applying 2021 overpayment and Tax payments for 2022
   • The Tax payments for 2022 screen is where you enter if you already paid the tax or a portion of the tax due