CA 592-B for trust

8 replies
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I use business turbotax for a family trust. This trust has a rental home in CA. The rental company sends me a 592-B form showing the tax withheld from the rental income. How do I get this tax distributed to the two K-1 CA recipients? Right now CA does not return the taxes withheld from the rental income. Is there a how to on what to do?

TurboTax Business Windows

Anonymous_Answer

Level 15

I am not sure whether or not this will be of any use, but the instructions are on the CA FTB web site.

See https://www.ftb.ca.gov/about-ftb/newsroom/tax-news/august-2019/schedule-k-1-and-withholding.html

With respect to how to enter this into the CA fiduciary module of TurboTax Business, you might want to try Forms Mode. The Interview, Step-by-Step Mode, for state returns will most likely not provide much, if any, guidance as is typical of most consumer-level (and even professional) income tax preparation software for trusts and estates.

Critter

Level 15

You will need to contact TurboTax support for this situation ….

Go to this website to contact TurboTax support during business hours - https://support.turbotax.intuit.com/contact/

someOldGuyAuthor

Level 2

I am sorry to say they could not help me. Seems like a simple question. Trust gets a 592-B. How to pass this on to K1 recipients. Anyone know how this business program works? People who sell it do not seem to know which I find a tad annoying. Any other tax programs out there that might have this figured out?

Anonymous_Answer

Level 15

I am not sure whether or not this will be of any use, but the instructions are on the CA FTB web site.

See https://www.ftb.ca.gov/about-ftb/newsroom/tax-news/august-2019/schedule-k-1-and-withholding.html

Carl

Level 11

I am only vaguely familiar with the CA form 592-B. I can recall this issue occurring a few years ago. I also recall the the "answer" was that you have to go into forms mode to enter that 529-B into the California Estate Tax Return, Form ET-1. But I don't recall which specific worksheet in the program where you have to enter the tax information from the 592-B if section 3 box c is checked.