Says CA form 5805 not ready??

Forum|Forum|5 years ago
January 22, 2021
3 replies
42 views

I am filing my taxes as usual with no changes to anything...I received a message at the end that says my Form 5805 Underpayment of Estimated Tax won't be ready until mid-Feb. I've never been flagged for this form before. The only thing that differed last year was I had a second job and it looks like that job did not deduct enough CA state tax ($27 on $5500 salary) even though I filled out my W-4 claiming 1. I owe the state $360.

Anyone have an idea of what would create this? It says I'll get a $6 penalty, which I really don't care about since I just want to get this paid and over with.

Thanks for sharing your knowledge!

Jessica

TurboTax Free Edition Online

ThomasM125

Level 15

Form TFB 5805 is used to calculate the penalty for underpayment of tax in California. You must have a penalty since you owe taxes. The form is required since you owe taxes so you will have to wait until it is available to file your tax return.

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Ace in Space

Level 2

CA form 5805 in Turbo Tax is different than the one available downloaded from the CA Franchise Tax Board. But both show 2 entrys for 7/15/20 withholding. Not sure which entry to use. Can't put in the same number in Turbo Tax because all 4 periods are added to get total withholding. Get error when only putting entry in one and putting in $0 for the other. Instructions for form 5805 are no help since they don't match the downloaded form. Waiting for the correct form in Turbo tax.

pglidden

Level 2

I have the same error. Looks like a programming error in the form with two 7/15/ entries and no 4/15 entry possible. Only way to clear the error is to put a 0 in the first 7/15 slot.