Get Ca Ftb 593-e 2014

Filling out the CA FTB 593-E form is essential for sellers or transferors claiming an exemption due to a loss or zero gain when selling real estate. This guide will assist you in navigating the online filling process to ensure a smooth and accurate submission.

Follow the steps to fill out the CA FTB 593-E form online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin with Part I by entering the seller or transferor's name, social security number (SSN) or individual taxpayer identification number (ITIN), and address. If applicable, include the spouse or registered domestic partner's details.
3. In Part II, enter the selling price on line 1. This is the total amount you will receive for the property, including any debt the buyer assumes.
4. For line 2, provide the selling expenses such as commissions and fees that will be paid by you.
5. Calculate the amount realized by subtracting the selling expenses (line 2) from the selling price (line 1) and enter it on line 3.
6. Enter the purchase price of the property on line 4. This includes your down payment and any debt incurred during the acquisition.
7. If any points were paid to obtain the loan, enter that amount on line 5.
8. On line 6, enter the depreciation amount you deducted, or could have deducted, on your California income tax return for business or investment use.
9. On lines 7-9, account for any other decreases (line 7) and calculate the total decreases to basis (line 8) by adding lines 5 through 7, then enter the result on line 9.
10. For increases to basis, add costs of additions or improvements to the property on lines 10-12, entering totals accordingly.
11. Calculate the adjusted basis on line 13 by adding lines 9 and 12.
12. Report any suspended passive activity losses on line 14, if applicable, and complete the addition on line 15.
13. Calculate the estimated gain or loss on sale on line 16 by subtracting line 15 from line 3, and complete any additional fields for optional withholding amounts.
14. Finally, review the form for accuracy and complete the seller or transferor's signature area below, ensuring to retain this form for your records.

Get started on filling out the CA FTB 593-E online today to ensure timely and accurate submission.