If the taxpayer has already filed Form 540 with Form W-2 that included the amount of...

If the taxpayer has already filed Form 540 with Form W-2 that included the amount of medical coverage for his or her nondependent adult children in his or her California wages, he or she should contact his or her employer to have them issue him or her Form W-2C excluding the amount from his or her California wages. The taxpayer should use which FTB Form as a substitute for Federal Form W-2C if his or her employer does not issue him or her a Form W-2C?

Solutions

Expert Solution

Solution:-

The taxpayer should use which FTB Form as a substitute for Federal Form W-2C if his or her employer does not issue him or her a Form W-2C:-

Use form FTB 3525 as a substitute for federal Form W-2C if your employer does not issue you a Form W-2C.

Explanation:-

If you have already filed Form 540 with Form W-2 that included the amount of medical coverage for your nondependent adult children in your California wages, contact your employer to have them issue you Form W-2C excluding the amount from your California wages. Use form FTB 3525 as a substitute for federal Form W-2C if your employer does not issue you a Form W-2C. File Form 540X to report the reduction in your California wages.

For self-employed individuals who reported a California adjustment excluding the health insurance premium paid for nondependent adult children, file Form 540X to report the allowed deduction for California.

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Your W-2 form reports that your total wages were $35,539 for 2018. Your W-2 form also...

Your W-2 form reports that your total wages were $35,539 for 2018. Your W-2 form also reports that $4,053 was withheld from your wages for federal income tax. You receive a 1099-INT from your bank that indicated interest earned of $281. You are single, under the age of 65, not blind and not claimed by any other person as a dependent. What is the amount of your payment or refund? (Be sure to first state "refund" or "payment" and then...

Taxpayer Form 1 Form 2 Form 3 Form 4 1 109 115 126 120 2 98...

Taxpayer Form 1 Form 2 Form 3 Form 4 1 109 115 126 120 2 98 103 107 108 3 29 27 53 38 4 93 95 103 109 5 62 65 67 64 6 103 107 111 128 7 83 82 101 116 8 122 119 141 143 9 92 101 105 108 10 107 113 127 113 11 103 111 111 108 12 54 64 67 62 13 141 145 142 160 14 92 94 95 102 15...

A person has an expected utility function of the form U(W) = W . He owns...

A person has an expected utility function of the form U(W) = W . He owns a house worth $ 500,000. There is a 50% chance that the house will be burned down. Then, he will become literally penniless . Luckily, however, there are insurance companies which make up for losses from house fire. Currently, they charge $q for $1 compensation (in cases of fire). In other words, the home owner should pay $qK for K units of fire insurance...

The town of Pleasantville is going to form a public safety committee. Pleasantville already has a...

The town of Pleasantville is going to form a public safety committee. Pleasantville already has a seven-person town council, a five-person citizen advisory board; the police force is made up of ten officers. There is no overlap between the members of the town council, the citizen advisory board, and the police force. Express all probabilities as decimals, rounded to six places. 14) If the committee must include three members from the town council, two members from the citizen advisory board,...

Tim has a concave utility function u(w) = w ‐ w²/2, where w∈[0,1] His only major...

Tim has a concave utility function u(w) = w ‐ w²/2, where w∈[0,1] His only major asset is shares in an Internet start‐up company. Tomorrow he will learn his stock's value. He believes that it is worth $w0 with probability 4/5 and $w1 with probability 1/5, with w1 > w0. 1) Calculate the expected value of the lottery, the expected utility, and the utility of the expected value. 2) If w0 = 1/3 and w1 = 2/3. Compute the risk...

Sarah received a 2018 Form W-2 from 2 different employers. The amounts reported in Boxes 3...

Sarah received a 2018 Form W-2 from 2 different employers. The amounts reported in Boxes 3 and 4 of her W-2s is provided below. What amount of excess social security tax (if any) should she report on her 2018 Schedule 5, Line 72? Box 3: Social security wages Box 4: Social security tax withheld Employer #1 87,600.00 5,431.20 Employer #2 55,250.00 3,425.50

Partnerships and C-Corporations are both entity choices a taxpayer has when deciding how to form their...

Partnerships and C-Corporations are both entity choices a taxpayer has when deciding how to form their business. Identify and explain some of the similarities and differences between the entities a. Identify and explain some of the similarities and differences between the entities in how the net income is taxed at both the entity and the owner level. b. Identify and explain some of the similarities and differences between the entities in how liquidating distributions are taxed at both the entity...

Calculate the amounts to be reported on each employee's Wage and Tax Statement (Form W-2) for 20Y8.

Wage and Tax Statement Data on Employer FICA TaxEhrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of each month, and social security tax, Medicare tax, and federal income tax were withheld in the required amounts. An employee who is hired in the middle of the month receives half the monthly salary for that month. All required payroll tax reports were filed, and the correct amount of payroll taxes was remitted by...

Phasors w=5+2i, u=2-2i, are two complex numbers written in component form. a. Draw them in the...

Phasors w=5+2i, u=2-2i, are two complex numbers written in component form. a. Draw them in the imaginary plane. b. find w and u in terms of their magnitude and phase. c. Find the new imaginary number g=w*u, and demonstrate that the magnitude and phase of g is the same whether you multiply w*u in component form or simply multiply their magnitudes and phases together.

1. How can lysis occur if a lambda phage has already formed a stable lysogeny? 2....

1. How can lysis occur if a lambda phage has already formed a stable lysogeny? 2. In generalized transduction, only 1 or 2 progeny phage may function as transducing particles. On the other hand, in specialized transduction, all the progeny phage are transducing particles. With the aid of a diagram, explain this statement. 3. Is the bacteriophage carrying donor bacterial DNA (transducing particle) capable of producing progeny phage?

Subjects