Colorado TABOR and corrected tax tables not included in Turbotax?

Forum|Forum|3 years ago
February 12, 2023
2 replies
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Colorado says the TABOR refund has been updated in State Income tax tables. Also tax rate has dropped to 4.5%. When will Turbotax update to include these changes?

I've entered everything but yet to file due the change in CO tax tables. The dollar figure in CO State tax remains unchanged since the Colorado statement of changes

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Best answer by AliciaP1

Yes, TurboTax is updated for the 4.4% 2022 tax rate and is calculating the 2022 TABOR refund if you qualify.

@JJSensei

ErnieS0

IRS decided the Colorado Cash Back refund is not taxable for federal purposes. It does not have to be included on the tax return. The refund was never taxed by state.

Colorado reduced its income tax rate to 4.4%. Check you return to see whether the tax rate has been updated.

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JJSenseiAuthor

Ah, yes, the TABOR direct refund of 2022 is not taxed. I saw that. Thanks. But Colorado is doing another TABOR refund through the filing taxes for 2022.

Hence the question of: Has Turbotax updated its Colorado tax tables to reflect the most recent TABOR refund. And has Turbotax updated its tables to reflect the 4.4% rate?

Many thanks for reaching out.

AliciaP1Answer

Yes, TurboTax is updated for the 4.4% 2022 tax rate and is calculating the 2022 TABOR refund if you qualify.

@JJSensei

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BillM223

@brat0504 is correct, there two screens near the end of the Colorado interview that you have to pass through and make the correct answers to trigger the Colorado Sales Tax Refund:

1. "Qualifying for the Colorado state sales tax refund" (this is where the question about days incarcerated is)

2. "Qualifying for the Colorado sales tax refund" (where you have to indicate your filing date)

Once you have clicked on Yes on the second screen, the TABOR refund will be added.

Let this be a lesson for all TurboTax users, that when you start a section in TurboTax, that you finish it.

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