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March 11, 2025
Question

CA state return Form 5805: Part III line 4

  • March 11, 2025
  • 1 reply
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What is this? There is absolutely no explanation anywhere that explains what this entry is or where to find it!!!!!

    1 reply

    March 11, 2025

    CA form 5805 Underpayment of Estimated Tax by Individuals and Fiduciaries part III Annualized Income Installment Method.

     If your income varied during the year, you may be able to lower or eliminate the amount of one or more required installments by using the annualized income installment method.

     

    Line 4 instructions: Enter your itemized deductions for the period shown in each column. If you do not itemize deductions, enter -0- here and on line 6. Estates or Trusts, enter -0- here, skip to line 9, and enter the amount from line 3 on line 9

     

    To revisit that section in TurboTax: 

    1. Open your state return.
    2. Continue to the screen A few things before we wrap up your state taxes
    3. Click Revisit next to Underpayment penalty 
    4. Continue and select No to the question If you want the Franchise Tax Board to calculate your penalty 
    5. On the screen Annualized Income Method select Yes to review/change your entries.

     

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