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Retroactive SALT Parity Election 2018-2021

If you plan to make a Retroactive SALT Parity Election for tax years 2018 to 2021, be proactive and prepare a DR 1715 (Partner or Shareholder Declaration for Qualified Business Income Deduction) and submit it to each partnership making the election that you are a member of. Do not return this document to the Department. Partners or shareholders who are corporations or partnerships do not need to complete this form. However, corporate and partnership partners should ensure that the electing pass-through entity has their current mailing address to avoid delays in receiving the refund of the resulting credit. 

To ensure timely processing and accurate delivery of the refund, please make sure that the mailing address information provided is complete and the most current for the partner. Submit the partner's full address, including any apartment or unit number, and the correct zip code. Old, incorrect or incomplete information for the mailing address will delay delivery or cause the partner's refund to be issued to the wrong location. 

Once a partnerships files the return and full payment is received, please allow 30 days for return processing and credits to be distributed to your individual partner or shareholder Colorado account and a refund to be issued. 

Unless there are other factors that warrant an amended individual income tax return, no additional action is needed to receive a refund. Amendments for partners and S corporation shareholders will be addressed by the Retroactive SALT Parity Act Composite Reporting Return and will not require separate amended returns (DR 0104X, DR 0112X, or DR 0105).

To check the status of your refund please send a secure message through Revenue Online, contact us by email, or call the taxpayer helpline. Response times can vary depending on your specific tax situation, the tax type you are inquiring about, time of year/month, and/or current customer service volume. All inquiries are answered in the order in which they are received. Thank you for your patience. 

Please note

  • If you are a member of multiple partnerships filing for the SALT Parity election, you only need to disclose the Qualified Business Income Deduction Addback once, rather than to all Partnerships. 
     
  • Individual partners and shareholders can expect to receive multiple 1099Gs. Each tax year, 2018-2021, included in the Retroactive SALT Parity election will generate a Tax Year specific 1099G.