Generating Colorado DR 1316 Agricultural Land Capital Gain Subtraction in ProConnect Tax

You can generate the Colorado taxable income subtraction for Form DR 0104, line 9 or Form DR 1316 on the Disposition or Depreciation screen in ProConnect Tax.

Follow these steps to generate DR 0104, line 9 and Form DR 1316 from the Disposition screen:

1. From the Input Return tab, go to Income ⮕ Dispositions.
2. Select Schedule D/4797/etc.
3. Enter a Description of Property.
4. Enter Date Acquired.
5. Enter Date Sold.
6. Enter Sales price.
7. Enter Cost or basis.
8. Click on the blue Details button for this disposition.
9. Go to the State & Local tab on this screen.
10. Scroll down to the Colorado Agricultural Land Capital Gain Subtraction section on this input screen.
11. Check the box labeled Qualified asset.
12. Make any other applicable entries for this sale.

Follow these steps to generate DR 0104, line 9 and Form DR 1316 from the Depreciation screen:

1. From the Input Return tab, go to Deductions ⮕ Depreciation.
2. Click on the blue Details button for the asset being disposed.
3. Go to the Disposition tab.
4. Enter the Date sold, disposed, or retired (MANDATORY).
5. Enter the Sales price.
6. Make any other applicable entries for this sale.
7. Go to the State & Local Disposition tab.
8. Scroll down to the Colorado Agricultural Land Capital Gain Subtraction section on this input screen.
9. Check the box labeled Qualified asset.
10. Make any other applicable entries for this sale.