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I am completing a regular 540 for a resident of Ca. I do the final review and it states no errors but after the final review it come up with 0 Ca errors but 4 FB errors remaining. It states to do recheck and it does show or take me to the errors. What does this mean?
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♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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I presume it means Franchise Board?
I have no errors on Federal and like I said goes through and says no errors but 4 FB errors remaining?
I will call on Monday am-they are not open right now. If you do find out please let me know
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Maybe we can help. Screen Shot?
Answers are easy. Questions are hard!
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I go through the recheck and all it really stops at is Schedule E other passive exceptions. The other passive exceptions has been checked(note the program did it automatically) on one or more California E Worksheets, this could allow rental loss deduction loss deduction greater than $25000 special allowance. Be sure behavior is what you want. This is for vacation home limits and certain other exceptions and should not be used for real estate professionals.
Note like I said, the program automatically clicked it - I then went back and over rode this and it was not one of this errors.
This was a rental property that was sold in 10/20
Sorry, at this time I cannot snap shot it right now
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Windows has a wonderful Snipping Tool. I have it on my tool bar, ready to use at any time.
Answers are easy. Questions are hard!