How does TT calc. Profit or Loss from Rents, Royalties, Partnrshp for a Ca. return? 1040 Sch E line 41=4085. TT step by step has Fed Adjusted=5920 & Ca. Amt=1405 .

I am a Ca. non resident (texas resident) but all of the Sch E amounts are from the Ca rental property. In the Ca Step by Step process, what drives the Fed Adjusted number to be different than the 4085 from the Federal Schedule E, line 41? And, why is the Ca amount less, given all the Sch. E income was a Ca. source? The numbers just dont look right.

937

Intuit Alumni

Jun 4, 2019 10:31:37 PM

To see what the difference(s) is, in Forms Mode, compare the federal and Calif Schedule E Worksheets (the rentals worksheet), lines 21 & 22. There could be depreciation differences on line 18a. Or perhaps differences in suspended loss carryovers.

New Member

Jun 4, 2019 10:31:38 PM

{Edited} Sorry! Misssed typed a comment

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How does TT calc. Profit or Loss from Rents, Royalties, Partnrshp for a Ca. return? 1040 Sch E line 41=4085. TT step by step has Fed Adjusted=5920 & Ca. Amt=1405 .