Get the free 2014 Form 593-C -- Real Estate Withholding Certificate - California ...

For Privacy Notice get FTB 1131 ENG/SP. 7131143 Form 593-C C2 2013 Instructions for Form 593-C References in these instructions are to the Internal Revenue Code IRC as of January 1 2009 and to the California Revenue and Taxation Code R TC. What s New Like-Kind Exchanges For taxable years beginning on or after January 1 2014 California Revenue Taxation Code R TC Sections 18032 and 24953 require California resident and non-resident taxpayers who defer gain on the sale or exchange of California...

How to fill out 2014 form 593-c

How to fill out CA FTB 593-C

1. Begin by downloading Form FTB 593-C from the California Franchise Tax Board website.
2. Fill in your name and the tax identification number (TIN) at the top of the form.
3. Enter the date of the sale or exchange of property in the appropriate section.
4. Provide details about the property, including the address and description.
5. Input the amount received at the time of sale in the designated field.
6. Indicate any applicable adjustments to the sale amount.
7. Complete the seller's information, including their name, address, and TIN.
8. Review all entered data for accuracy and completeness.
9. Sign and date the form before submission.

Who needs CA FTB 593-C?

1. Anyone who sells or exchanges real property in California
2. Real estate agents and intermediaries involved in the transaction
3. Buyers or sellers involved in real estate transactions subject to withholding

People Also Ask about

Does Form 593 need to be attached to tax return?

To claim the withholding credit, report the sale or transfer as required and enter the amount from line 5 on the withholding line on your tax return, Withholding (Form 592-B and/or 593). Attach one copy of Form(s) 593, to the lower front of your California tax return. Make a copy for your records.

Do I need to fill out 593 E?

Any remitter (individual, business entity, trust, estate, or REEP) who withheld on the sale/transfer of California real property must file Form 593 to report the amount withheld.

Do I need to send a copy of my federal return with my California state return?

California Franchise Tax Board requires the federal return to be attached to the California return as follows: Form 540: Federal return is required if federal return includes supporting forms or schedules other than Schedule A or Schedule B. Form 540NR: Federal return is required for all Form 540NR returns.

Who is exempt from CA real estate withholding?

You do not have to withhold tax if the CA real property is: $100,000 or less. In foreclosure. Seller is a bank acting as a trustee.

Who is the remitter on Form 593?

During escrow, the remitter would be the REEP as they are the one submitting the payment and Form 593. The remitter is the person who will remit the tax withheld on any disposition from the sale or exchange of CA real estate and file the prescribed forms on the buyer's/transferee's behalf.

What is the tax withholding requirement in California?

Your payer must take 7% from your California income. Backup withholding: Replaces all other types of withholding.

What is the tax withholding on real estate sales in California?

Buyers must withhold 3 1/3 percent of the gross sales price on sales of California real property interests from both individuals (e.g., "natural" persons) and non-individuals (e.g., corporations, trusts, estates) and pay this amount to the Franchise Tax Board (FTB).

What is the California income tax withholding rule for all sales of real property in California?

For the State, the law is written such that all real property being sold requires the payment of tax at the close of escrow in an amount equal to 3.33% of the Sales Price. An Alternative Calculated Amount can also be used.

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What is CA FTB 593-C?

CA FTB 593-C is a form used by the California Franchise Tax Board for reporting foreign partners' distributive share of California source income.

Who is required to file CA FTB 593-C?

Partnerships and limited liability companies (LLCs) that have foreign partners must file CA FTB 593-C.

How to fill out CA FTB 593-C?

To fill out CA FTB 593-C, you need to provide the partnership's details, the foreign partner's information, and the amount of California source income, among other required details.

What is the purpose of CA FTB 593-C?

The purpose of CA FTB 593-C is to report the income that foreign partners earn from partnerships or LLCs that is sourced to California.

What information must be reported on CA FTB 593-C?

Information that must be reported includes the partnership's name and FEIN, the foreign partner's name and identifying number, and the amount of distributive share allocated to each foreign partner.