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FTB announces Year 2000 tax form clarifications

Please note the following corrections to tax year 2000 California tax forms and instructions. Should you have any questions about these clarifications, contact our Tax Forms Development and Distribution Section at (916) 845-3442.

Form 100, California Corporation Franchise or Income Tax Return, Side 2, Schedule D - California Capital Gains and Losses, Part II - Long-Term Capital Gains and Losses -  Assets held More Than One Year, Line 6. Line 6 has been revised to read as follows:

Enter gain from Schedule D-1, line 9 and/or any capital gain distributions.

The error is in Package X (paper and CD-ROM, Release 00.1 and Release 00.2). The Internet version is correct.

Form 100W, California Corporation Franchise or Income Tax Return-Water's-Edge Filers, Side 2, Schedule D-California Capital Gains and Losses, Part II -Long-Term Capital Gains and Losses - Assets Held More Than One Year, Line 6. Line 6 has been revised to read as follows:

Enter gain from Schedule D-1, line 9 and/or any capital gain distributions.

The error is in Package X (paper and CD-ROM Release 00.1 and Release 00.2). The Internet version is correct.

California Schedule D (100S), S Corporation Capital Gains and Losses and Built-In Gains, Side 2, Section B  - 1.5% Tax on Capital Gain, Part II - Long-Term Capital Gains and Losses - Assets Held More Than One Year, Line 5. Line 5 has been revised to read as follows:

Enter gain from Schedule D-1, line 9 and/or any capital gain distributions.

The error is in Package X (paper and CD-ROM, Release 00.1 and Release 00.2). The Internet version is correct.

California Personal Income Tax Booklet, page 9 of the Instructions for Form 540A, and California Special Edition for Seniors Personal Income Tax Booklet, page 21 of the Instructions for Form 540A, California Itemized Deductions Worksheet section, Line 1. Line 1 has been revised to read as follows:

Federal itemized deductions: Add the amounts on federal Schedule A (For 1040), lines 4, 9, 14, 18, 19, 26, and 27.

The error is in Package X (paper and CD-ROM, Release 00.1 and Release 00.2). The Internet version is correct.

Form FTB 3805V, Net Operating Loss (NOL) Computation and Disaster Loss Limitations - Individuals, Estates, and Trusts, Page 3 of Instructions, Part III - Limitations, center column, the section entitled Form 540NR filers:  

This section has been revised to read as follows:

To figure your new business or eligible small business loss from all sources, enter the amount of the new business or eligible small business NOL included in Part I, Line 21 , 28. To figure your new business NOL or eligible small business NOL from California sources, enter the amount of the new business or eligible small NOL from Part I, Line 30 , 37.

The error is in Package X (paper and CD-ROM, Release 00.1 and Release 00.2). The Internet version is correct.

Form FTB 3805V, Net Operating Loss (NOL) Computation and Disaster Loss Limitations- Individuals, Estates, and Trusts, page 3 of Instructions, Part III - Limitations, center column, the section entitled Form 540NR filers: This section has been revised to read as follows:

To figure your new business or eligible small business loss from all sources, enter the amount of the new business or eligible small business NOL included in Part I, Line 21 , 28. To figure your new business NOL or eligible small business NOL from California sources, enter the amount of the new business or eligible small NOL from Part I, Line 30 , 37.

The error is in Package X (paper and CD-ROM, Release 00.1 and Release 00.2). The Internet version is correct.

Use Form 100X to amend corporation return

Corporations sometimes file two returns for the same year. Typically they intend for one to be an amended return and may even stamp amended at the top of the return.

Done incorrectly however, this practice can create problems instead of solving them. Sometimes the amended return that was filed on a Form 100 gets processed as an original return before the original return. 

Or, there's a delay in processing the amended return.

To avoid these problems, please use the Form 100X, Amended Corporation Franchise or Income Tax Return to file the amended return and file it only after the original return has been filed.

May/June 2001

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