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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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- Use correct Rental income gross receipts amount
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Use correct Rental income gross receipts amount
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Use correct Rental income gross receipts amount
Use correct Rental income gross receipts amount
Submitted by charles_clumeckCA Form 56, line 1 amount is rental income from screen 18. But that is not the correct amount if the taxpayer owns less than 100% of the property.
The Lacerte program should be able to take the rental income from screen 18 times the ownership % at the bottom of screen 18.
This would be the correct amount of CA gross receipts to report on line 1, Form 568.
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