Form DR 0106K, Colorado K-1 is used to report a taxpayer's share of Colorado income, deductions, credits, and other tax attributes from a pass-through entity. Pass-through entities include partnerships, S corporations, estates, and trusts.
Information from the Colorado K-1 is used to determine how much income and other tax items must be reported on the taxpayer's Colorado return.
Program Entry
Colorado Return → Miscellaneous Forms → DR 0106K, Colorado K-1
Who Should Complete This Section?
Complete this section if you received a Colorado Schedule K-1 (Form DR 0106K) from a:
- Partnership
- S Corporation
- Estate
- Trust
A separate entry should be created for each Colorado K-1 received.
The Following Information Will Be Needed
Entity Information
Enter information for the pass-through entity issuing the Colorado K-1, including:
- Entity name
- Entity EIN
- Entity address
- City
- State
- ZIP code
If the entity uses a foreign address, indicate that the address is outside the United States.
Taxpayer or Spouse
Select whether the K-1 belongs to the taxpayer or spouse.
Taxpayers Percentage of Income
Enter the percentage of income allocated to the taxpayer as shown on the Colorado K-1.
The percentage should be entered exactly as reported by the entity and may include decimal places.
Colorado Nonresident Status
Indicate whether the member is a Colorado nonresident.
This information may affect how Colorado income and withholding are reported.
SALT Parity Election
Indicate whether the pass-through entity made a State and Local Tax (SALT) Parity Act election.
Colorado allows certain pass-through entities to elect to pay Colorado tax at the entity level. If the entity made this election, additional credits or adjustments may be reported on the Colorado return.
How Does This Affect My Return?
The information entered from Form DR 0106K may affect:
- Colorado taxable income
- Colorado withholding
- Pass-through entity tax credits
- SALT Parity Act credits
- Colorado additions and subtractions
- Other income and deduction items reported by the entity
Notes
- Enter the information exactly as shown on the Colorado K-1 received from the entity.
- A separate Colorado K-1 entry is required for each pass-through entity.
- Keep a copy of each Colorado K-1 with your tax records.
- Additional Colorado income, withholding, credits, and modifications may be reported elsewhere on the Colorado return based on the information provided by the entity.