Items on Seller's Final Settlement Statement

Forum|Forum|3 years ago
February 8, 2023
1 reply
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I sold a house last year, which I had been renting out for several years.

The title company withheld 3.33% of the sale price for the CA FTB ... it is listed on the SFSS as:
Withholding 3.33% Franchise Tax Board to Franchise Tax Board: $53,280.00

I don't know where I am supposed to represent this value in my State return??
Could someone give me a lead??

I'm using TurboTax Premium Desktop for Windows

Best answer by RobertB4444

When you go through the state return it will ask about any payments or estimated payments you made. You will report this as a payment that you made using the closing date of the sale as the date.

@derelict

RobertB4444Answer

When you go through the state return it will ask about any payments or estimated payments you made. You will report this as a payment that you made using the closing date of the sale as the date.

@derelict

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