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Teke0
New Member

I am a FT CA res but sold a farm in ID for a big loss. That +$300 farm inc is all in ID. How do I move this Schedule F to ID and Remove it from CA?

I can delete the Sch F from CA and it removes the loss but doesn't remove that income from the CA adj form.  When I reopen the Fed return, it adds that Sch F back into CA.  Would another product make any difference??

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Accepted Solutions
TerryA
Level 7

I am a FT CA res but sold a farm in ID for a big loss. That +$300 farm inc is all in ID. How do I move this Schedule F to ID and Remove it from CA?

You have a misconception of state taxation: your resident state gets to tax all of your income regardless of where it comes from. So, get the Calif Schedule F Worksheet back into TT/Calif (you may have to delete the Calif return and start it over, although the Sch F Wks should be regenerated from the federal Schedule F) and don't go around deleting or overriding anything - TT/Calif is preparing your return correctly. Let it.

You should first prepare your nonresident Idaho return to report the farm operating income and sale. Then finish your resident Calif return. If there is tax on the Idaho return, TT/Calif will prepare Schedule S (other state tax credit) for some or all of the Idaho tax on the farm income that California is also taxing to help prevent double taxation.

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1 Reply
TerryA
Level 7

I am a FT CA res but sold a farm in ID for a big loss. That +$300 farm inc is all in ID. How do I move this Schedule F to ID and Remove it from CA?

You have a misconception of state taxation: your resident state gets to tax all of your income regardless of where it comes from. So, get the Calif Schedule F Worksheet back into TT/Calif (you may have to delete the Calif return and start it over, although the Sch F Wks should be regenerated from the federal Schedule F) and don't go around deleting or overriding anything - TT/Calif is preparing your return correctly. Let it.

You should first prepare your nonresident Idaho return to report the farm operating income and sale. Then finish your resident Calif return. If there is tax on the Idaho return, TT/Calif will prepare Schedule S (other state tax credit) for some or all of the Idaho tax on the farm income that California is also taxing to help prevent double taxation.

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