Colorado - Who knew?

Technical topics regarding tax preparation.
#1
Nilodop  
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Twenty-something granddaughter lives in CO. Goes over some numbers on her return with me because she thinks her refund for 2022 is too low. All she has is a W-2. First I explain to her that FICA and Medicare withheld does not enter into the calculation of her refund. Then I look up CO income tax and tell her that the refund she figured may actually be too high. Return is so simple I can't believe we are having this conversation.

Who knew? She says the software she used adds a CO sales tax rebate to her refund. When I look it up, I see it for 2021, but not yet for 2022.

How's an old grandfather supposed to impress his granddaughter if her free software knows more than the old guy?
 

#2
lckent  
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Colorado
Up to $972 depending on income & filing status. Free money! Table is on the Form 104.
CPA, Retired
 

#3
Nilodop  
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Thank you.

Her wages 37000
Std ded'n 12950
She's single
Sales tax rebate per her software (she tells me) is 597. Table says 153

Help!
 

#4
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Nilodop wrote:How's an old grandfather supposed to impress his granddaughter if her free software knows more than the old guy?


Explain to her how a carburetor works.
 

#5
Nilodop  
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It would put her to sleep.
 

#6
JAD  
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omg, this conversation reminds me of my grandfather, RIP.
 

#7
CO CPA  
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I'm in Colorado...unless you use Drake who jacked it up for 2021 extended returns due to software error and then you have to fix them all....
 

#8
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I'm using Proseries 2022, sales tax refund is $153.
 

#9
Nilodop  
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Thank you. That's what the table on the tax return form d0104 says too. I will try to find out where she got 597. She used a free filing software - not sure which one.
 


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