39-22-303.6–18 Income from Foreclosures. Basis and Purpose. The bases of this rule are §§ 39-21-112, 39-22-301, 39-22-303,

39-22-303.6, C.R.S. The purpose of this rule is to clarify that a taxpayer who qualifies under § 39-22-303.6(10), C.R.S., may not make an election pursuant to § 39-22- 303.6(8), C.R.S. A taxpayer who qualifies under the provisions of § 39-22-303.6(10), C.R.S., must file using the rules of that provision (direct allocation). A taxpayer may not make an election pursuant to § 39-22-303.6(8), C.R.S., to treat such income as apportionable income.