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Can I enter into 2018 Turbo Tax Premier (for individuals) the California minimum franchise tax paid for 2017 S-Corp?

My S-Corp in California was dissolved in 2017.  I thought I did not have to pay $800 CA minimum franchise tax for 2017.  But this year 2018 CA FTB (Franchise Tax Board) sent me a bill of $800 plus late fees, which I paid in full.  FTB said they sent me the bill because I filed S-Corp tax return for 2017.  Is it possible that I enter my payment ($800 plus late fees) into 2018 Turbo Tax Premier?

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Accepted Solutions
Cindy0H
New Member

Can I enter into 2018 Turbo Tax Premier (for individuals) the California minimum franchise tax paid for 2017 S-Corp?

Yes, you can. Here is how:

  • Personal
  • Deductions & Credits
  • Estimates and Other Taxes Paid
  • Other Income Taxes
  • Balance due on your 2017 state taxes paid in 2018

View solution in original post

6 Replies
Cindy0H
New Member

Can I enter into 2018 Turbo Tax Premier (for individuals) the California minimum franchise tax paid for 2017 S-Corp?

Yes, you can. Here is how:

  • Personal
  • Deductions & Credits
  • Estimates and Other Taxes Paid
  • Other Income Taxes
  • Balance due on your 2017 state taxes paid in 2018

Can I enter into 2018 Turbo Tax Premier (for individuals) the California minimum franchise tax paid for 2017 S-Corp?

Thank you, TurboTaxCindyH, so much for your help!

Can I enter into 2018 Turbo Tax Premier (for individuals) the California minimum franchise tax paid for 2017 S-Corp?

@TurboTaxCindyH  I followed the steps you provided above and did not encounter any errors, but I did not see any change in terms of reducing Fed tax or CA tax.  Is this normal?
Cindy0H
New Member

Can I enter into 2018 Turbo Tax Premier (for individuals) the California minimum franchise tax paid for 2017 S-Corp?

If you are taking the standard deduction, it wouldn't change anything.

Can I enter into 2018 Turbo Tax Premier (for individuals) the California minimum franchise tax paid for 2017 S-Corp?

@TurboTaxCindyH You are correct.  Thank you.

Can I enter into 2018 Turbo Tax Premier (for individuals) the California minimum franchise tax paid for 2017 S-Corp?

@TurboTaxCindyH I tried itemized deduction and saw the change in CA tax.  Thanks.

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