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Colorado Tax Forms in 2024

Understanding Colorado tax forms can be challenging, but knowing the basics can simplify the process. In this blog, we break down the essential Colorado tax forms, where to find them, and tips for accurate filing to ensure a hassle-free tax season.
Colorado Tax Forms
Colorado Tax Forms in 2024
Residents in Colorado enjoy various tax credits and tax deductions that reduce their tax liability. Read on to know more about this.

Are you a Colorado resident looking for ways to understand tax forms? Colorado Tax Forms can be confusing whether you’re a new resident or have just become financially independent. No matter the reason, your tax filing journey might hit some roadblocks if you do not keep essential documents and tax forms handy. This article is all you need to understand tax forms in Colorado. It teaches you how to obtain and file tax forms.

Colorado Income Tax Forms

Here are some common tax forms Colorado residents must file: 

DR 0104

This is an individual tax return form. It must be filled out by full-time, part-time, and even non-residents who have income sources in Colorado.

DR 0104AD

This is a schedule in form 0104. This schedule helps taxpayers to claim any subtractions from their income.  

DR 0104BEP

This is a nonresident beneficiary form. Nonresidents must complete it to claim their estimated income tax payments. 

DR 0104EP

Full-time and part-time residents of Colorado fill out this form. It is called Individual estimated income tax payments. 

How to Obtain Colorado Tax Forms?

Obtaining Colorado tax forms is a straightforward process. Here are several methods you can use to get the forms you need:

  1. Colorado Department of Revenue (CDOR) Website: Visit the Colorado Department of Revenue website.
  1. CDOR Service Centers: To pick up tax forms in person, visit one of the Colorado Department of Revenue service centers.
  2. Public Libraries and Post Offices: During tax season, Colorado’s public libraries and post offices stock common state tax forms. It’s a good idea to call ahead to ensure they have the forms you need.
  3. Request by Phone: Call the Colorado Department of Revenue at (303) 238-7378 to request that tax forms be mailed to you.

Tax Credits and Deductions in Colorado

Residents in Colorado enjoy various tax credits and tax deductions that reduce their tax liability. Here are some tax credits one can find in Colorado:

  • Colorado State offers Earned income tax credits for low and moderate-income families
  • Up to 50% of childcare contributions are credited.
  • The state also offers enterprise Zone credit, Historic preservation credits, and innovative motor vehicle credit.

Not only tax credits, residents in Colorado also enjoy tax deductions offered by the state. Here are some tax deductions one can benefit from:

Standard deductions up to $13k for single filers and $ 27k for joint filers. 

The state also offers taxpayers itemized deductions and 529 college savings plans.

Residents can also enjoy Retirement income exclusion and Medical savings account contributions in Colorado. 

Conclusion

Every tax form serves a unique purpose and is essential for taxpayers and the government. These forms provide crucial information about your tax situation, income, and sources, enabling the government to collect taxes accurately and issue refunds where applicable. By understanding taxes in-depth, you can benefit from deductions and credits to reduce your tax burden. The Beem Income Tax Calculator is a powerful tool that helps you estimate your tax liabilities and refunds, making the tax filing process easier. Additionally, the Beem app helps users boost their finances, manage bills on time, and track their credit score from anywhere at any time.

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Author

Picture of Prem Kishan

Prem Kishan

A seasoned Product Manager who thrives on making a meaningful impact within the organization, Prem is deeply passionate about tackling intricate problems using cutting-edge technology and is a specialist in tax content.

Editor

This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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