Colorado Enterprise Zone Tax Credit

Forum|Forum|3 years ago
February 10, 2023
1 reply
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I expect TurboTax 2022 to automatically calculate and forward the appropriate entries from my 2021 Colorado Tax Return for the Enterprise Zone Tax Credits that I did not use in 2021 and enter them in the appropriate places on CO Form DR1366 to complete the correct amount on line 42. Am I wrong about this? Did I fail to carry this info forward when I started my 2022 tax return? Advice?

DaveF1006

Yes, the good news is that you may carryfoward enterprise zone credits up to five years but you will need to report this in your Colorado state tax return if the 2021 carryover did not populate into your 2022 tax return. Here is how to report.

log in or open your 2022 tax return.
Go to state taxes and begin working in your return.
When you arrive at a page that mentions Take a Look at Your Colorado credits and taxes, scroll down to business and investment credits>Enterprise Zone Credits.
Enter none of the above in the first screen.
The second screen will allow you to enter enterprise zone carryovers from a prior year.

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