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Get your taxes done using TurboTax
As per https://www.ftb.ca.gov/forms/2024/2024-3510-instructions.html#:~:text=Intangible%20Drilling%20and%20...). , California does not allow intangible drilling cost expense in 2024 but Federal return allows it. How to handle this in Turbo Tax with the California return? Turbo Tax is taking the federal taxable amount (reduced by intangible drilling cost) in California as well which seems incorrect.
‎April 2, 2025
7:48 AM