Personal Form Estate Withholding Statement
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How to fill out Personal Residence Trust?
The Personal Form Estate Withholding Statement displayed on this page is a reusable official template created by qualified attorneys in accordance with federal and state laws.
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FAQ
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.
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. If this is an installment sale payment after escrow closed, the buyer/transferee is the responsible person.
Any person who withheld on the sale or transfer of California real property during the calendar month must file Form 593 to report, and Form 593-V to remit the amount withheld. Normally, this will be the title company, escrow company, intermediary, or accommodator.
California law requires withholding when a person (an individual, business entity, trust, or estate) sells California real property unless the seller qualifies for an exemption.
» California Real Estate Withholding is prepayment of estimated income tax due the State of California on gain from the sale of California real property. If the amount withheld is more than the income tax liability, the state will refund the difference when you file a tax return for the taxable year.