The S corp had Ordinary business income of $451.00. On the CA 100S State Adjustments line 8 is 1251 after the $800 minimum tax paid was added back in. $1251 of carried over NOL was applied resulting in CA net Income line 20 being 0.
I should know this already, but I have been down the rabbit hole for days and trying to figure out if there is any flow through of the NOL to our 1040 to offset our personal taxes? I don't see the benefit of this NOL being tracked. The company has never owed more than $800 minimum to CA. If there is some adjustment I should be doing manually to the State return, I need some direction please.
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I'll page @Mike9241 but you may have to contact Support.
As stated in another thread, very few people who answer questions here are likely to have TurboTax Business with the California state module installed.
Well, I am starting to think that FTB 3805V is what I need to file. I don't think I have ever used this form and now thinking about which returns I am going to be able to amend. Still looking forward to the expert chiming in. Guess I can print out the Business return now and move to personal.
Still waiting for an expert to chime in.
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