1. What is Fiduciary Income Tax?
4. Why do I have to do the Federal Income Tax Return first?
6. I need to file a return for an estate or trust with Colorado derived income, but it is administered out-of-state. How do I determine my Colorado fiduciary income tax liability?
The Colorado fiduciary income tax of a nonresident estate or trust shall be what the tax would have been were it a resident estate or trust apportioned in the ratio of the Colorado taxable income to the modified federal taxable income. Use Schedule E on the Fiduciary Income Tax Return (DR 0105) to make the apportionment.
7. I need to file a return for a Bankruptcy Estate. What do I need to know?
For bankruptcy estates with a Colorado filing requirement, complete the Fiduciary Income Tax Return and provide supporting documentation for the estate only.
Do not complete, submit, or attach the Colorado Individual Income Tax Return as part of the Colorado filing for a bankruptcy estate. For Colorado returns, the Fiduciary Income Tax Return is NOT used as a transmittal for the debtor's form Individual Income Tax Return.
Note: The filing of the bankruptcy estate's tax return does not relieve a debtor from the requirement to file his or her individual income tax return for Colorado income on the form DR 0104.