DR 0104AMT: Alternative Minimum Tax Computation Schedule (2024)
Colorado · Colorado DOR · Used for tax years 2024
Form DR 0104AMT is the 2024 Colorado Alternative Minimum Tax Computation Schedule for individuals. It uses federal alternative minimum tax figures, Colorado additions and subtractions, and Colorado normal tax to calculate Colorado alternative minimum tax. It also includes an appo
Who files this form
DR 0104AMT calculates Colorado alternative minimum tax for individual taxpayers for 2024. This tax applies when 3.47% of Colorado alternative minimum taxable income exceeds Colorado normal tax.
Ordinarily, you will have Colorado alternative minimum tax if you have federal alternative minimum tax. Part-year residents and nonresidents use the included worksheet to calculate the percentage used to apportion their tax.
What you'll need
Have these forms and details available to complete the schedule:
- Federal Form 6251: Figures used to calculate federal alternative minimum taxable income and adjustments.
- Colorado Form DR 0104: Additions from lines 3 through 8 and Colorado normal tax from line 12.
- Colorado Form DR 0104AD, if you have subtractions: Line 25 and the refund amount on line 1 that must be excluded.
- Colorado Form DR 0104PN, if you are a part-year resident or nonresident: Figures used to allocate income and deductions to Colorado.
- Your name and Social Security number or Individual Taxpayer Identification Number.
How to file
Submit the completed DR 0104AMT computation schedule using either method printed on the form:
- Paper: Submit it with your paper Form DR 0104, Colorado Income Tax Return.
- Electronic: Submit it at Colorado.gov/RevenueOnline using the E-file Attachment option.
Do not return the apportionment worksheet with your return. Submit the computation schedule on page 3 of the provided material instead.
Common mistakes
- Counting income or adjustments twice: Do not enter an amount on line 2 or line 4 that duplicates income or an adjustment already included in arriving at federal alternative minimum taxable income.
- Including excluded subtractions: For line 4, exclude the State Income Tax Refund on DR 0104AD, line 1. Also exclude interest paid by Colorado or its political subdivisions that is included in federal alternative minimum taxable income.
- Missing the special rule for line 1: If Federal Form 6251, line 5, is larger than line 4, subtract line 5 from line 4 and enter the negative result on DR 0104AMT, line 1.
- Not rounding: Round amounts to the nearest dollar.
- Sending the worksheet: Keep the apportionment worksheet out of your return. Submit the computation schedule instead.
Questions people ask
How is the 2024 Colorado alternative minimum tax calculated?
The schedule multiplies line 5 by 3.47% on line 6, with apportionment for part-year residents and nonresidents. Line 8 is the amount by which line 6 exceeds Colorado normal tax on line 7.
Where do I find my Colorado normal tax?
Use the amount from Form DR 0104, line 12, and enter it on DR 0104AMT, line 7.
What if I lived in Colorado for only part of the year or was a nonresident?
Use the Calculation of Apportionment Percentage Worksheet. Divide the Colorado amount on worksheet line 9 by the total amount on that line. Carry the resulting percentage from worksheet line 10 to DR 0104AMT, line 6.
Where can I find more information?
The form directs taxpayers to the Individual Income Tax Guide at Tax.Colorado.gov. It also refers part-year residents and nonresidents to the Department publication Income Tax Topics: Part-Year Residents & Nonresidents.