DR 0106K: Colorado K-1 (2024)
Colorado · Colorado DOR · Used for tax years 2024
Colorado K-1 (DR 0106K) reports a partner’s share of partnership income, deductions, modifications, and credits. It also reports amounts attributable to Colorado for applicable nonresident partners.
Who files this form
- Partnerships must complete and file a Colorado K-1 (DR 0106K) for each partner for each tax year.
- S corporations must complete and file a Colorado K-1 for each shareholder for each tax year.
The partnership or S corporation must also give each partner or shareholder a copy on or before the date it files the Colorado K-1s with the Colorado Department of Revenue. The copy reports that person’s share of income, deductions, modifications, and credits.
When it's due
Calendar tax year 2024: Colorado K-1s are due April 15, 2025.
What you'll need
Have these documents and details available to complete the Colorado K-1:
- Each partner’s federal Schedule K-1 from IRS Form 1065, or each shareholder’s federal Schedule K-1 from IRS Form 1120-S.
- Each partner’s or shareholder’s name, address, applicable tax identification number, and Colorado residency status.
- The partnership’s or S corporation’s name, address, and either its Colorado account number or federal employer identification number (FEIN).
- The beginning and ending dates of the entity’s fiscal tax year, if applicable.
- Information about Colorado additions, subtractions, and applicable credits, including relevant Colorado K-1s received from other partnerships.
- Information about any composite return, DR 0107 filing, or SALT Parity Act election that applies.
For a paper submission, include the DR 1706 cover sheet, Annual Transmittal of DR 0106K – Colorado K-1 Forms.
How to file
Submit a copy of each partner’s or shareholder’s Colorado K-1 to the Colorado Department of Revenue using one of these methods:
- Revenue Online: Submit a spreadsheet or XML file, or enter the data manually, at Colorado.gov/RevenueOnline.
- MeF: If filing through MeF, submit the Colorado K-1s as part of the partnership or S corporation return.
- Mail: Send paper Colorado K-1s with the DR 1706 cover sheet to:
Colorado Department of Revenue
Denver, CO 80261-0006
Do not attach the Colorado K-1 copies or DR 1706 to a paper DR 0106 return. Give each partner or shareholder their copy no later than the date you file the Colorado K-1s with the Department.
Common mistakes
- Attaching K-1s to a paper DR 0106: Do not attach the Colorado K-1 copies or DR 1706 transmittal form to that paper return.
- Entering losses or deductions as positive amounts: Enter them as negative amounts. On paper returns, use parentheses. Colorado subtractions on line 13 also go in as negative amounts.
- Filling in Column B for resident recipients: Leave lines 1 through 13 of Column B blank for resident partners and shareholders. Also leave those lines blank for partners that are corporations or partnerships.
- Reporting unpaid tax on a partnership K-1: Do not enter an amount on line 16 that the partnership has not remitted to the Department. The total reported across its Colorado K-1s must equal the tax calculated and paid for the composite return or SALT Parity election.
- Including excluded credits on a partnership K-1: Do not include credits already applied on DR 0106CR toward the partner’s composite tax share, or credits allowed in prior tax years.
Questions people ask
How do I report a partner or shareholder who lived in Colorado for only part of the year?
Check the resident box and follow the instructions for resident partners or shareholders.
Do I need to submit a new DR 0107 every year for the same nonresident?
No. A DR 0107 filed with the Department for a nonresident partner or shareholder remains in effect for future tax years.
What is the difference between Column A and Column B?
Column A reports the partner’s or shareholder’s share of the listed items. Column B reports the Colorado portion for applicable nonresidents. Complete lines 1 through 13 of Column B for nonresident partners who are individuals, estates, or trusts, and for nonresident shareholders. Leave those lines blank for residents and for partners that are corporations or partnerships.
Which tax identification number should I enter for the recipient?
For an individual, enter their Social Security number (SSN) or individual taxpayer identification number (ITIN). For a partner that is an estate, trust, corporation, partnership, or other legal entity, enter its FEIN. For a shareholder that is an estate or trust, enter its FEIN.