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April 7, 2025
Question

California State Review says that Form 5805: Part III Line 4 must be entered. Can someone explain what needs to be provided there ?

  • April 7, 2025
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    April 7, 2025

    Form 5805 is used to calculate the penalty for underpayment of estimated tax by individuals and fiduciaries. Part III Line 4 specifically requires you to enter your:  

    1. Itemized deductions for the period shown in each  column.
    2. If you do not itemize deductions, enter -0- here and  on line 6. 
    3. Estates or Trusts, enter -0- here, skip to line 9,  and enter the amount from line 3 on line 9 

    : Franchise Tax Board Instructions for Form 5805

    : Franchise Tax Board Form 5805