Article: 50685
What is This Credit?
The Innovative Motor Vehicle Credit provides a Colorado tax benefit for individuals and businesses who purchase or lease a qualifying electric or alternative fuel vehicle. You’ll need to complete Form DR 0617 to report vehicle details and claim the credit.
Information You’ll Need
To complete this screen, gather the following for each qualifying vehicle:
- Vehicle model year, make, and model
- Vehicle Identification Number (VIN)
- Manufacturer’s Suggested Retail Price (MSRP)
- Vehicle weight (GVWR) if applicable
- Vehicle type (select from dropdown)
- Whether it’s a medium electric truck (14,000 lbs or less)
- Date of purchase or lease
- Type of credit being claimed
How to Add the CO – DR-0617 – Innovative Motor Vehicle Credit Screen
To enter this information:
- Open the State Taxes section on the left-hand side.
- Click I’d like to see the forms I’ve filled out or search for a form.
- Select Colorado from the dropdown.
- Go to the Credits tab.
- Click on CO – DR-0617 – Innovative Motor Vehicle Credit to open the screen.
- Fill out the required vehicle and credit information.
- Click Save.
Further Information
For more eligibility details, see the official DR 0617 form instructions on the Colorado Department of Revenue website.