Colorado DOR Issues Adopted Rule Correction on Itemized Deductions Addback

The Colorado Department of Revenue (DOR) July 10 issued an adopted rule correction on itemized deductions addback. The adoption corrects the reference to the threshold requiring a taxpayer to add back the difference between their itemized deduction and the applicable limit on their Colorado income tax return to determine their Colorado taxable Income. [Colo. Dep’t of Revenue, Corrected Reg. Section 39-22-104(3)(p), 07/10/24]