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Investors & landlords
The CA tax WITHHELD on the sale is NOT an expense ... it is a WITHHELD TAX and is NOT used added to the basis of the property but it IS entered as a state withholding and will affect the federal & state return accordingly.
I HIGHLY recommend you seek some professional guidance with this matter if you get confused by the program in the least and as already mentioned you must READ ALL THE WORDS ON THE INTERVIEW SCREENS ***CAREFULLY*** .... this cannot be stressed enough. If you are using the ONLINE program the upgrade to the LIVE option for personal guidance.
‎December 31, 2019
4:20 PM
3,608 Views