Annualized Income For California Return

Forum|Forum|1 year ago
July 29, 2024
1 reply
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How do I enter the annualized income for the California return?

LenaH

Community Manager

Please follow the instructions below:

Open your California return.
Continue through the return until you get to the page, Underpayment Penalty. Answer yes to review the topic.
Answer no to letting the Franchise Tax Board calculate the penalty and send you a bill.
Answer the information on the following screens.
On the page, Annualized Income Method, answer yes to earning your income unevenly throughout the year.
Enter the information.

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JMSanDiegoAuthor

Level 2

I apologize for being dense, but I go to line 113 on Form 540 for UnderPayment of Tax and it won't let me check the box to attach Form 5805. On Form 5805, there is only a statement to check the box if you want FTB to calculate the penalty. I can not find a yes/no box.

I cannot find an Underpayment Penalty page in my CA return.

I greatly appreciate your patience.