CO – 104AMT – Alternative Minimum Tax

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Article: 50688

What is Form 104AMT (DR 0104AMT)?

Form 104AMT (also known as DR 0104AMT) is the Colorado Alternative Minimum Tax Computation Schedule. It’s used by individuals, estates, and trusts to determine whether the Colorado AMT applies and, if so, calculate the amount due. This tax ensures that taxpayers with high incomes or significant adjustments pay a minimum level of tax, regardless of deductions or credits.

Who Must File It?

You need to complete Form 104AMT if any of the following apply:

  • You owed federal AMT based on 6251; or
  • Your Colorado alternative minimum taxable income (AMTI) results in a tentative minimum tax that exceeds your regular Colorado income tax.
  • Estates and trusts also use this form, while corporations are exempt.

How to Fill Out Form 104AMT

To include the DR 0104AMT on your Colorado return, you will need to add the screen CO – 104AMT – Alternative Minimum Tax:

  1. Go to the State Taxes section.
  2. Click “I’d like to see the forms I’ve filled out or search for a form.”
  3. Choose Colorado from the dropdown.
  4. Under the General tab, select CO – 104AMT – Alternative Minimum Tax.
  5. Complete the form as it applies to your situation.
  6. Click Save to finalize.

Special Situations

  • Part-year residents and nonresidents: Apportion AMTI based on Colorado-source income using the DR 0104PN worksheet.
  • Estate and trust filers: Use the analogous fiduciary schedule, DR 0105 (Schedule F).
  • Minimum : If you claimed a federal minimum tax credit (Form 8801), you may claim a Colorado minimum tax credit equal to 12% of that, up to your tax liability; requires filing Form 104CR.

Why It Matters

  • Ensures a minimum state tax baseline for high-income taxpayers, similar to the federal AMT.
  • The 3.47% rate (since 2001) applies after federal adjustments.
  • A portion of AMT revenue supports programs like education and housing under TABOR rules.

Where to Get the Form & Instructions

  • Form and instructions are available on the Colorado DOR website (search “DR 0104AMT” or “104AMT”)
  • Worksheets, guidance, and up-to-date forms can be found in the “Individual Income Tax” section of Colorado’s tax forms portal.

Need More Assistance?

  • Refer to IRS Form 6251 for federal AMT specifics.
  • See Colorado Income Tax Topics: Part‑Year Residents & Nonresidents for apportionment guidance.
  • Form 104CR is required to claim a Colorado Minimum Tax Credit.
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