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This form is used to calculate and report underpayment of estimated tax by farmers and fishermen for the taxable year 2024 in California. It must be attached to various tax forms regardless of penalty owed.
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What is ftb 5805f?
FTB 5805F is a form used by California taxpayers to report the sale of a business entity or a capital asset.
Who is required to file ftb 5805f?
Taxpayers who sell or dispose of a business entity or a capital asset are required to file FTB 5805F.
How to fill out ftb 5805f?
To fill out FTB 5805F, taxpayers need to provide details about the sale, including the type of asset sold, the sale date, and the amount received, alongside other necessary financial information.
What is the purpose of ftb 5805f?
The purpose of FTB 5805F is to report any gains or losses from the sale of business entities or capital assets to the California Franchise Tax Board.
What information must be reported on ftb 5805f?
The information that must be reported on FTB 5805F includes the description of the asset sold, the date of sale, the selling price, and any related costs or expenses involved in the sale.
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