Solved: CA 592-B for trust
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Level 2

CA 592-B for trust

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? 

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Level 15

CA 592-B for trust

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.

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Level 15

CA 592-B for trust

 

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/

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Level 2

CA 592-B for trust

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?

Highlighted
Level 15

CA 592-B for trust

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.

View solution in original post

Highlighted
Level 15

CA 592-B for trust

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.

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Level 2

CA 592-B for trust

Form 592 looks like the winner. THanks!

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