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State of California Franchise Tax Board

Changes to 2005 Forms

Updates to 2005 Schedule K-1 (100S) Instructions - Shareholders Share of Income, Deductions, Credits, etc.

The revised Internet version is available for download as of 03/06/2008.

Revision Details: The instructions are incorrect because they reference the incorrect lines of Schedule CA (540 or 540NR).
Similar revisions were made to the 2004 - 2007 Schedule K-1 (100S) instructions.

  • Page 37 of the 100S booklet, page 3, 2nd column, Line 7, 3rd paragraph and page 128 of the Package X

Previously read:

Line 7-Charitable contributions
If there is an amount on Schedule K-1 (100S), line 7, column (c ), enter this amount on Schedule CA (540 or 540NR), line 39.

Revised to:

Line 7-Charitable contributions
If there is an amount on Schedule K-1 (100S), line 7, column (c ), enter this amount on Schedule CA (540 or 540NR), line 41.

lnstructions incorrectly instruct taxpayer's to enter the K-1 "Charitable contributions" in the "Total of federal Schedule A line instead of the "Other adjustments" line of the Schedule CA (540 or 540NR). The incorrect line reference may cause taxpayer's to compute the incorrect California taxable income.
This revision will help taxpayer's report the correct amount of income, which will result in a correct tax liability.


2005 Updates to Schedule B/C/D/H (100S)

Revision Date: 03/15/06
Revision Details: Schedule B/C/D/H (100S) Instructions

  • A paragraph in the Schedule B/C/D/H (100S) Instructions was incorrectly placed under the wrong subject heading. The paragraph was under Schedule C Instructions. The paragraph should be under Schedule D Instructions.

It should read:

Schedule D (100S), page 30, column 1, above Built-In Gains Tax section:

What's New

For taxable year beginning on or after January 1,2005, California conforms to the federal law changes for the following:

  • The applicable period for the taxpayer to replace livestock sold on account of weather-related conditions from two years to four years after the close of the first taxable year in which any part of the gain on conversion is realized.
  • Capital gain treatment under IRC section 631(b) to apply to outright sales by landowners.

This change must be made in 2005 Package X, page 121; and the Form 100S Booklet, page 30. The Internet version has been updated.

Back to Tax Form Changes for 2005

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