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Level 2
June 10, 2021
Question

Line 7b form CA 540 how does one get that value?

  • June 10, 2021
  • 5 replies
  • 19 views
I am trying to verify a proposed assessment penalty

5 replies

macuser_22
Alumni - Champ
Alumni - Champ
June 10, 2021

The CA 540 form does not have a line 7b.   Line 7 is your exemptions.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Level 2
June 10, 2021

2017 CA 540 does have an item 7b or at least mine does.  I just need to know how that value got there coming from turbo tax.

macuser_22
Alumni - Champ
Alumni - Champ
June 10, 2021

@jptradellc wrote:

2017 CA 540 does have an item 7b or at least mine does.  I just need to know how that value got there coming from turbo tax.


I think you are referring to Schedule CA and not the 540 form.

 

The Schedule CA line 7b is the total of lines 1 to 14 on the "California Wage, IRA and Pensions Adjustments" form.    You would need to look at that form to see where it came form.

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
VolvoGirl
Level 15
June 10, 2021

There is a line 7B on CA (540) for capital gains

https://www.ftb.ca.gov/forms/2020/2020-540-ca.pdf 

 

Is that what you need?