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- Colorado does not conform to the Cares Act
Colorado does not conform to the Cares Act
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rsotelo
Level 2
10-06-2020
02:18 PM
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I get this error that Colorado does not conform to the CARES act and I should manually calculate the federal taxable income. When I enter the FTI, the error doesn't go away.
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George4Tacks
Level 15
10-06-2020
03:20 PM
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Is this just a warning? If so, you can just ignore it and go ahead and file the return. Many of these do NOT go away when you make an adjustment to satiisfy the warning. https://proconnect.intuit.com/community/individual/help/diagnostic-reference-ref-frequently-asked-qu...
Answers are easy. Questions are hard!
itonewbie
Level 15
10-07-2020
10:00 AM
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As George says, it's just a warning to have you take a second look to make sure the return is correct before it is filed, in case you overlooked that.
You shouldn't override the FTI. Unless you know exactly what you are doing, overriding is almost always a bad idea. CO starts with FTI and makes various adjustments to arrive at CO taxable income. If that return includes any non-conforming provisions, those amounts are entered as adjustments (either addition or subtractions) instead.
Question to you is whether your client's return has any non-conforming provisions due to retroactive application or decoupling. If not, you simply need to check off the diagnostic so that you could submit the return for e-filing.
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