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September 28, 2021
Question

California Form 5805

  • September 28, 2021
  • 1 reply
  • 0 views

I am a contractor and apparently I underpayed my California state taxes. In order to calculate the amount due, I need to fill out form 5805. They are requesting my AGI (Adjusted Gross Income) from 1/1 to 3/31, 1/1 to 5/31 and 1/1 to 8/31. Is there an easy way to pull this out of TurboTax? I have never seen this before and have no idea how I could make the calculation.

1 reply

VolvoGirl
Employee
September 28, 2021

No.   You have to add up your income for each period.  Each period starts at Jan 1.  So do Jan 1 - March 31 first then add in to 5/31, then add in up to 8/31.