DR 1305G: Gross Conservation Easement Credit Use Schedule (2024)
Colorado · Colorado DOR · Used for tax years 2024
Colorado Form DR 1305G is the 2024 Gross Conservation Easement Credit Use Schedule. It reports the source and amount of each credit, amounts used in prior years, and amounts used this year, abandoned, or carried forward.
Who files this form
Use the 2024 DR 1305G to report gross conservation easement credit you are using, carrying forward, or abandoning on your tax return. The schedule asks whether you are a transferee or a type of donor for each credit.
A disregarded entity that is not filing a return should only be listed parenthetically with its filing taxpayer.
What you'll need
Have the following information available to complete the schedule:
- Your name or business name, applicable taxpayer identification numbers, and tax year beginning date.
- The name of the person or entity from whom you received each credit, plus their Social Security number or federal identification number, or their Colorado account number.
- The tax credit certificate number for donations made in 2011 or later.
- The date you received each credit.
- The amount you purchased, the amount from your most recent DR 1305, Line 16, or the allocated amount available for each composite member.
- The credit used in prior years and the amounts you are using or abandoning this year.
How to file
Complete Part G for each credit:
- Identify your taxpayer type, the source of the credit, and the requested identification details.
- Enter the total credit available on Line 30 and credit used in prior years on Line 31.
- Subtract Line 31 from Line 30 to calculate Line 32, the credit available this year.
- Enter the credit you are using on Line 33 and any credit abandoned on Line 34.
- Subtract Lines 33 and 34 from Line 32 to calculate the credit carried forward on Line 35.
Enter the Line 33 total on your main return's Gross Conservation Easement Credit line. Submit additional pages as needed, with overall totals only on the final page.
The form prints this department address:
Colorado Department of Revenue
Denver CO 80261-0005
The supplied text does not give mailing or e-filing instructions.
Common mistakes
- Do not include dashes or periods in the tax credit certificate number. This field applies to donations made in 2011 or later.
- If you use additional pages, enter overall totals only on the final page.
- On Line 25, list yourself if you are a non-pass-through donor. If you are a pass-through entity filing a composite return, list the composite members.
- List a disregarded entity that is not filing a return only parenthetically with its filing taxpayer.
- Check the Line 33 limit. Credit used is generally limited to net tax after applying other credits. For a donor claiming a credit refund in a surplus year, the limit is an aggregate $50,000 for all taxpayers with credit from the donation.
Questions people ask
How do I calculate the credit available this year?
Subtract credit used in prior years on Line 31 from total credit available on Line 30. Enter the result on Line 32.
How much credit can I use this year?
Line 33 is generally limited to net tax after applying other credits. If you are a donor claiming a credit refund in a surplus year, the limit is an aggregate $50,000 for all taxpayers with credit from the donation.
How do I calculate the credit carried forward?
Subtract the credit used this year on Line 33 and the credit abandoned on Line 34 from Line 32. Enter the result on Line 35.
What if I need more space to list my credits?
Submit additional pages as needed. Enter overall totals only on the final page.
Where can I find more information about this credit?
The form refers taxpayers to FYI Income 39 and Income Tax Topics: Conservation Easement Credit at Tax.Colorado.gov.