Part Time CO Resident spends months in FL. Can I subtract from CO Income return the % of portfolio income earned while in FL?

Forum|Forum|2 years ago
March 6, 2024
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I am a CO resident who spends 3-6 months a year in FL (winter of course). The CO Part Time Resident tax return has lines to deduct income earned while not in CO. So can I deduct the portfolio income earned while in FL from the CO return? None of the income is CO sourced. I believe that FL has no portfolio income tax. Thanks much.

DMarkM1

No. There is no filing option for a part-time resident in CO. There is a part-year resident return for taxpayers who permanently moved into or out of CO during the tax year. If you lived in CO during the tax year and did not permanently move into or out of CO during the tax year, you are a full year CO resident and do not file a part-year return. Your income no matter where it is earned is taxable to CO.

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