CO Income Tax Filing Guide 2018 free printable template

This form apportions your gross income so that Colorado tax is calculated for only your Colorado income. ZIP DR 0158-I 06/07/18 180158-I19999 2018 Extension Payment for Colorado Individual Income Tax Filing extensions are granted automatically only return this form if you need to make an additional payment of tax. Sum of lines 7 through 9. Tax Credits Visit Colorado. gov/Tax/Income-Tax-Credits to read more about which tax credits can be claimed on this form. Line 11 Nonrefundable Credits...Complete the DR 0104CR to claim various nonrefundable credits. The servicemember may make this election by filing a return and checking the applicable box on Form 104PN. Military servicemembers who are stationed in Colorado but are not Colorado residents are not required to pay Colorado tax on their military income. Automatic Filing Extension Colorado offers an automatic 6-month extension to file your income tax return if you cannot submit your return by the April 15 due date. This means that...you can file your return by October 15 without filing this form. While there is an extension to file there is not an extension to the payment due date. And royalty income received or credited to your account during the part of the year you were a Colorado resident and/or partnership/S corporation/fiduciary income that is taxable to Colorado during the tax year. 18. Enter all other income from form 1040 Schedule 1 lines 10 11 and 21. List Type 20. Total Income. Line 1 Federal Taxable Income Refer...to your federal income tax return to complete this line Form 1040 line 10 If your federal taxable income is a negative amount be sure to enter the amount as such on your Colorado return. If submitting a paper return put the negative amount in parentheses for example 1 234. Total tax payments and credits Add lines 2a through 2c 3. Tax due Subtract line 2d from line 1. Enter the result here and on the form below Return the DR 0158-I with check or money order payable to the Colorado Department of...Revenue Denver Colorado 80261-0008. The methodology for some estimates and income class categories changed from 2014 due to changes in the Bureau of Labor Statistics Consumer Expenditure Survey CES therefore estimates from prior years may not be comparable. Estimate of income uses the CES definition of money income which includes all sources of income taxable and nontaxable as well as transfer payments such as public assistance supplemental security income food stamps and other benefits or...contributions. Some taxpayers family money income estimate was negative. Negative income is associated with self-employment and investment losses. These taxpayers were excluded because we cannot reliably assign them to the income categories used in this table. The total state collections for drivers licenses was divided by the total number of filers yielding a flat fee across all income classes. The registrations and specific ownership fees/taxes paid were estimated using the total state...collections and the CES average number of vehicles for each income class.

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How to fill out CO Income Tax Filing Guide

Instructions and Help about CO Income Tax Filing Guide

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Edit the CO Income Tax Filing Guide using pdfFiller's tools, which allow you to input your information directly on the form. Simply upload the form to pdfFiller, and use the editing features to fill in your details. Once edits are made, you can save or print the form directly from the platform.

How to fill out CO Income Tax Filing Guide

Filling out the CO Income Tax Filing Guide requires careful attention to detail. Begin by gathering necessary financial documents, such as W-2s, 1099s, and any additional income reports. Then, follow these steps for completion:

1. Input your personal identification information, including name, address, and Social Security number.
2. Report your total income from all sources, ensuring accuracy to avoid penalties.
3. Deduct eligible expenses according to Colorado tax regulations.
4. Calculate your total tax liability and any credits that apply to you.
5. Sign and date the form before submission.

About CO Income Tax Filing Guide 2018 previous version

What is CO Income Tax Filing Guide?

What is the purpose of this form?

Who needs the form?

When am I exempt from filling out this form?

Components of the form

What are the penalties for not issuing the form?

What information do you need when you file the form?

Is the form accompanied by other forms?

Where do I send the form?

About CO Income Tax Filing Guide 2018 previous version

What is CO Income Tax Filing Guide?

The CO Income Tax Filing Guide was the primary form used by Colorado taxpayers to report income and pay taxes owed to the state. Designed for residents and non-residents alike, the form collects essential tax data used in the calculation of state tax obligations.

What is the purpose of this form?

The purpose of the CO Income Tax Filing Guide is to document annual income and compute the respective state tax liability. Accurately completing this guide ensures compliance with Colorado's tax laws and helps prevent potential penalties or interest charges of late or incomplete filings.

Who needs the form?

Any individual or entity earning income in Colorado must complete the CO Income Tax Filing Guide. This includes residents, part-time residents, and non-residents who have generated income from Colorado sources, such as wages, business profits, or rental income.

When am I exempt from filling out this form?

You may be exempt from filing the CO Income Tax Filing Guide if your total income is below the minimum taxable threshold established by the state. Additionally, certain specific exemptions exist for full-time students, military personnel, or individuals whose income derives entirely from non-taxable sources.

Components of the form

The CO Income Tax Filing Guide consists of several key components including personal identification information, income reporting sections, deduction claims, credit claims, and the taxpayer's signature. Understanding each section is crucial for accurate form completion to ensure compliance and avoid issues during audits.

What are the penalties for not issuing the form?

Failing to file the CO Income Tax Filing Guide by the due date may result in penalties that include a percentage of the taxes owed, and interest on any unpaid balances. These penalties can accumulate over time, significantly increasing the total payment due to the state.

What information do you need when you file the form?

To file the CO Income Tax Filing Guide, you will need your Social Security number, W-2s or 1099s for income reporting, information on deductible expenses, and any tax credits for which you may qualify. It is important to gather all relevant information beforehand to streamline the filling process.

Is the form accompanied by other forms?

Filing the CO Income Tax Filing Guide may require supplementary forms depending on your income sources and deductions. For instance, if you are claiming certain credits, additional schedules may be necessary. Review Colorado’s tax requirements to determine any companion forms needed for your submission.

Where do I send the form?

The completed CO Income Tax Filing Guide should be mailed to the Colorado Department of Revenue. The specific mailing address can vary, so it is crucial to check the latest information from the state’s official tax website or your drafted instructions to ensure proper submission.