Question

I am a non-resident of Colorado and received a Colorado K-1 with a loss. Do I need to file a CO return to keep the loss carryforward?

Forum|Forum|7 years ago
June 6, 2019
1 reply
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I am non-resident of Colorado and have never filed a Colorado return.

I received a Colorado K-1 related to investments in Colorado companies held by a non-Colorado LP (the issuer of the K-1). The K-1 shows a loss.

Do I need to file a Colorado return in order to carry the loss forward to offset future Colorado earnings?

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Rick19744

Employee

Does not appear that this would benefit you. It appears that Colorado does not have a separate NOL computation as they use the federal as a starting point. So unless you have Colorado withholdings that have been remitted on your behalf, which would be rare with a loss, it does not look like you need to file a Colorado tax return.

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.