PTE election in California

[Side_Gig]

I am self employed  SMLLC , I did made estimated payments in 2023

However i  did not do PTE election - by June 15,2023

Can i reclassify estimated tax to PTE? What form i have to submit then

[RobertB4444 · Accepted solution]

California says that you needed to file the election with your timely filed return.  Since you didn't do the election they will apply the payments to your personal return.

Here is the California Franchise Board info.

The only way to fix it going backwards is to contact the Franchise Board and see if they are willing and able to reassign the payments.  I would say it is unlikely but it's worth a shot.

Here is how to contact the CFTB.

@Side_Gig