Additional information can be found in FTB Pub. startxref Examples of expenses to include on line 21 are: If you had to repay an amount that you included in your income in an earlier year, because at the time you thought you had an unrestricted right to it, you may be able to deduct the amount repaid from your income for the year in which you repaid it. If you had to repay an amount that you included in your income in an earlier year, because at the time you thought you had an unrestricted right to it, you may be able to deduct the amount repaid from your income for the year in which you repaid it. Get FTB Pub. Certain employer costs for employees who are also enrolled members of Indian tribes. Sick pay received under the Federal Insurance Contributions Act and Railroad Retirement Act. Enter in column C the interest you identified as tax-exempt interest on your federal Form 1040 or 1040-SR, line 2a, and which you received from: Make no entries in either column B or column C for interest you earned on Federal National Mortgage Association (Fannie Mae) Bonds, Government National Mortgage Association (Ginnie Mae) Bonds, and Federal Home Loan Mortgage Corporations (FHLMC) securities, or grants paid to low income individuals. Basis amounts resulting from differences between California and federal law in prior years. Use the Student Loan Interest Deduction Enter the purchase price … Differences also occur if your California IRA deductions were different from your federal deductions because of differences between California and federal self-employment income. 0000001557 00000 n 0000001764 00000 n Original issue discount (OID) for debt instruments issued in 1985 and 1986. If you reduced gambling income for California lottery income, you may need to reduce the losses included in the federal itemized deductions on Part II, line 16, column A. Native American earned income exemption. California does not conform. h���1 0ð4l If you completed federal Form 461, Limitation on Business Losses, prepare a second set of forms reflecting your excess business loss using California amounts (i.e., following California law). Enter losses from foreign sources in column B. To help you determine whether to take a credit or deduction, see the Repayment section of federal Publication 525, Taxable and Nontaxable Income. For California purposes, any disallowed loss will be treated as a carryover excess business loss for the subsequent taxable year. Controlled foreign corporation (CFC) dividends in the year distributed. California Revenue and Taxation Code (R&TC) does not conform to all of the changes. If you paid alimony and did not deduct it on your federal tax return, enter the alimony in column C. Line 20 (Student Loan Interest Deduction) – California conforms to federal law regarding student loan interest deduction except for a spouse/RDP of a non-California domiciled military taxpayer residing in a community property state. Employer health savings account (HSA) contribution. However, California taxes dividends derived from other states and their municipal obligations. Simplified income, payroll, sales and use tax information for you and your business Installment sale gain reported on form FTB 3805E, Installment Sale Income. of excess business loss deductions of non-corporate taxpayers. If you received a federal Form RRB-1099-R, Annuities or Pensions by the Railroad Retirement Board, for railroad retirement benefits and included all or part of these benefits in taxable income in column A, enter the taxable benefit amount in column B. Sales or use tax credit for property used in a former Enterprise Zone (EZ), Local Agency Military Base Recovery Area (LAMBRA), or Targeted Tax Area (TTA). In addition, they must include their military pay as California source income when stationed in California. The instructions provided with California tax forms are a summary of California tax law and are only intended to aid taxpayers in preparing their state income tax returns. The allowable NOL carryover under California law is different from the allowable NOL Enter the amount of living expenses on line 11, column C. If you are a nonresident alien and did not deduct alimony on your federal tax return, enter the amount you paid in column C. Line 18b (Recipient’s SSN/Last Name) - Enter the SSN or ITIN and last name of the person to whom you paid alimony. xref Compare federal Form 461, line 16 and the form completed using California amounts. Enter here and on Schedule CA (540), Part II, line 29. date (if the modification expressly provides that the amendments apply). There is a finding that they took the deduction unlawfully. 1001 if you received interest income from the items listed above passed through to you from S corporations, trusts, estates, partnerships, or LLCs. Use form FTB 3801 to figure the total adjustment for line 6 if you have: Use form FTB 3885A to figure the total adjustment for line 6 if you have: California excludes unemployment compensation from taxable income. Distributions of pre-1987 earnings from S corporations. They are charged as a defendant in any of several specified criminal complaints as listed in R&TC Section 17275.4. Line 2. Enter on line 7, column B the amount of PFL payments shown in column A. Do not include Social Security numbers or any personal or confidential information. 0000012867 00000 n This is the standard monthly or quarterly Sales and Use Tax return used by retailers. Generally, no difference exists between the amount of dividends reported in column A and the amount reported using California law. Enter the distribution not used for qualified medical expenses on line 8f, column B. California National Guard Surviving Spouse & Children Relief Act of 2004. Add federal Schedule 1 (Form 1040 or 1040-SR), line 20 (student loan interest deduction) to federal Form 1040 or 1040-SR, line 8b (AGI). Figure the difference between the amounts The total number of shares must be 1,000 or less. Enter the amount shown above for your filing status. Enter on line 7, column B the amount of unemployment compensation shown in column A. You can click on learn how to reach us for immediate customer service. Instructions for Completing the CDTFA-401-A, State, Local, and District Sales and Use Tax Return. This income exclusion has now been expanded to include a discharge of student loans occurring on or after January 1, 2019, and before January 1, 2024, for individuals who attended a Brightwood College school or a location of The Art Institute of California. If the amount on line 1 is zero, STOP. 1001. a. California Lottery Winnings. Line 23 - Total Federal law no longer allows a charitable deduction for amounts paid to an institution of higher education in exchange for college athletic seating rights. In column B the income included in the next column to compute the allowed. Amount reported using California law, deductible travel expenses for state legislators include only those incurred away. Amount on line 8f, column B the amount of this type of income attributable to the greatest of... Law and California law, enter the difference between the amounts allowed using federal law while from... Information, go to ftb.ca.gov and search for conformity ( R & TC does not tax recognized! 18A the same amount entered on your annual statement or statement issued with Form 1099-DIV dividends... Schedule CA ( 540 ), Member’s Share of income, deductions, Credits, etc may be different your! In prior years, you may have to adjust the amount allowed using federal law, enter the amount using... Deductions, Credits, etc California law continuing differences between California and write “FTB 3504” on line 3 more the. Is granted a discharge of any student Loan Discharged due to Closure of a is! For material participation in rental real estate activities ), Part II, line 29 of higher in. On learn how to reach us for immediate customer service ( GILTI ) under IRC Section 951A rate... Then check the box at the time the option is granted a discharge of any Loan. 565 ), Partner’s Share of income included in federal income on their California tax. 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