Colorado TABOR for 2023

Forum|Forum|2 years ago
February 1, 2024
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Reviewing the TurboTax 2023 Deluxe worksheets for Colorado state tax. Line item 34, State Sales Tax Refund, does not include the $800 (one qualifying taxpayer). Which TurboTax question (for the state return) should this $800 credit be inserted?

JamesG1

To qualify for the Colorado state sales tax refund, see the screen Qualifying for the Colorado state sales tax refund in the Colorado state income tax return.

See the Colorado Department of Revenue website here.

For one year only (2023), TABOR state sales tax refunds claimed on income tax returns, or PTC applications, will provide an equal refund of $800 for all qualifying individuals ($1,600 for two qualifying individuals filing jointly).

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patsy_j

where do i find this mystery question?

i have tried to "search" for it but no dice 😞

BillM223

I found this screen in the Online product near the very end of the Colorado interview, after the discussion about the underpayment penalty.

In the desktop product, navigate again towards the end of the state interview to the screen with the heading, "A Few Things Before We Wrap Your State Taxes", scroll down to "Other Situations", then click on Start or Revisit for "Sales Tax Refund".

@patsy_j

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Westipeep

This is very confusing for Colorado residents because we were alerted there is a $800.00 per filer refund from the state. We werent informed it would be a sep check but "your state refund will be much larger due to the Tabor refund. Please provide additional info soon.

BillM223

You can read what Colorado says about TABOR here.

TurboTax will generate the tax credit automatically if the taxpayer meets the requirements. These are:

1. you must be a full-time Colorado resident.

2. You must not have been incarcerated 180 days or more in 2023.

In my test case, the $1,600 refund (for a couple filing married joint) appeared on line 34, just as it should have.

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Wolffe

Mine was erased when I logged back in to file my Colorado return, and the system wouldn't let me put it back in. I'll probably end up filing an amended return.