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The Colorado 104 form, officially known as the DR 0104, is essential for individuals filing their state income tax returns. This form caters to full-year residents, part-year residents, and non-residents, allowing them to report their income and calculate their tax obligations. It requires personal details such as names, Social Security numbers, and dates of birth for both the taxpayer and their spouse, if applicable. Additionally, taxpayers must report their federal taxable income and make necessary adjustments for state-specific deductions and additions. This includes items like business interest expense deductions and net operating loss addbacks. The form also addresses various credits that can reduce the overall tax liability, such as nonrefundable credits and refundable credits. Furthermore, taxpayers can indicate their preference for direct deposit refunds and provide third-party designee information if they wish to authorize someone else to discuss their return with the Colorado Department of Revenue. Completing this form accurately is crucial for ensuring compliance with state tax laws and for maximizing potential refunds or minimizing tax due.

Key takeaways

  • Understand the Purpose: The Colorado 104 form is used for filing individual income tax returns for residents, part-year residents, and non-residents.
  • Gather Necessary Information: Collect personal information such as Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), and details about your spouse if filing jointly.
  • Include Supporting Documents: Attach W-2s and 1099s that show Colorado withholding to your return.
  • Calculate Federal Taxable Income: Enter your federal taxable income from your federal tax return on line 1 of the form.
  • Account for Additions and Subtractions: Be sure to list any necessary additions to or subtractions from your federal taxable income, as detailed in the instructions.
  • Determine Tax Liability: Use the tax table or the DR 0104PN to find your Colorado tax based on your taxable income.
  • Claim Credits: Include any nonrefundable and refundable credits on the appropriate lines, ensuring to attach the relevant forms.
  • Review for Accuracy: Double-check all entries to avoid mistakes that could delay processing or result in penalties.
  • Submit on Time: File your return by the due date to avoid late fees, and choose to e-file or mail it to the correct address provided in the instructions.

Dos and Don'ts

When filling out the Colorado 104 form, it’s important to follow certain guidelines to ensure accuracy and compliance. Here’s a list of what you should and shouldn’t do:

  • Do: Double-check your personal information for accuracy, including names and Social Security Numbers.
  • Do: Use the most recent version of the form to avoid outdated information.
  • Do: Include all required documentation, such as W-2s and 1099s, with your submission.
  • Do: Round amounts to the nearest dollar as specified in the instructions.
  • Do: Sign and date the form before submitting it to the Colorado Department of Revenue.
  • Don’t: Leave any fields blank. Fill in all required sections completely.
  • Don’t: Forget to include additional forms, like the DR 0104PN or DR 0104CR, if applicable.
  • Don’t: Use pencil or erasable ink. Always complete the form in black or blue ink.
  • Don’t: Submit the form without reviewing it for errors or omissions.
  • Don’t: Ignore the deadlines for filing. Late submissions can incur penalties.

File Specs

Fact Name Description
Form Title The form is titled "2020 Colorado Individual Income Tax Return".
Governing Law This form is governed by Colorado state tax laws, specifically under Title 39 of the Colorado Revised Statutes.
Filing Types It accommodates Full-Year, Part-Year, and Nonresident taxpayers.
Identification Requirements Taxpayers must provide their Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
Refund Claims If claiming a refund for a deceased taxpayer, the form requires the inclusion of a death certificate and Form DR 0102.
Income Reporting Federal Taxable Income must be reported from the federal income tax form 1040, line 15.
Credits and Deductions Taxpayers may claim various credits and deductions, including Nonrefundable Credits and Enterprise Zone credits.
Submission Requirements Supporting documents such as W-2s, 1099s, and various schedules must be submitted with the return.
Filing Addresses Returns must be mailed to specific addresses based on whether a payment is included or not.