CALI TAX TITAN: DOMINATE YOUR
CALIFORNIA INCOME TAX FINAL
WITH A+ PRECISION – 2026–2027
June, who files single, files 2017 amended federal and Cali tax
returns to report $1,600 in interest she left off her original
return. What forms and schedules will she need ? - THE CORRECT
ANSWER-Form 1040, Form 1040X, Schedule B, Form 540 and
Schedule X
In September of 2018, Bill and Iris moved form Montana to Cali
for Bills job. All qualified moving requirements were met. They
paid $695 for a rental truck,$48 for boxes, and $23 for packing
materials to move their personal property to Cali. They also
paid $120 for lodging on the way, $20 for trolls and $59 for
meals. Bill and Iris are allowed to take actual moving expenses
for their personal goods on line 1 of Form 3903 in the amount
of : - THE CORRECT ANSWER-$766
Annette and Grace married in June of 2018 and live in Cali.
Which of these would be considered community income if they
file MFS? - THE CORRECT ANSWER-Interest income of $300 Grace
received from an account she opened in July 2018 in separate
property state. She deposits a regular amount from her
paycheck each month into the account.
Marty receives a $100 distribution from a mutual fund. 49% of
the fund is in Cali municipal bonds, 49% in Nevada municipal
, bonds and 2% in Arizona municipal bonds. How much of the
$100 is taxable on the Cali return ? - THE CORRECT ANSWER-Mark for
follow up
Which of these passive loss rules for rental activity differs
between Cali and federal law ? - THE CORRECT ANSWER-Rules for real
estate professionals engaged in a real property business
If a worker received a Form 1099 MISC but is actually an
employee, what forms can be filed to correct this ? - THE CORRECT
ANSWER-Schedule C
What is the Nine- Monty Presumption of Residence Rule ? - THE
CORRECT ANSWER-Both A and B
Jack signed a three year contract to support construction
projects in Afghanistan. He left cali on March 15, 2017 leaving
his family in their home in Ventura, Cali. He returned home for
30-day vacations in 2017 and 2018. Which of the following
regarding his Cali residency status is true ? - THE CORRECT ANSWER-
He was a part year resident in 2017 and non resident for 2018
Which of the following statements is correct when considering
the factors that determine Cali residency? - THE CORRECT ANSWER-If
you live in Cali for nine months, you are automatically a
resident for tax purposes.
Gary and Charlotte has the following income and expenses for
2018: $45,000 in wages. $24,000 in rental income. $48,000 in
self employment receipts. $8,000 in rental expenses. $12,000
CALIFORNIA INCOME TAX FINAL
WITH A+ PRECISION – 2026–2027
June, who files single, files 2017 amended federal and Cali tax
returns to report $1,600 in interest she left off her original
return. What forms and schedules will she need ? - THE CORRECT
ANSWER-Form 1040, Form 1040X, Schedule B, Form 540 and
Schedule X
In September of 2018, Bill and Iris moved form Montana to Cali
for Bills job. All qualified moving requirements were met. They
paid $695 for a rental truck,$48 for boxes, and $23 for packing
materials to move their personal property to Cali. They also
paid $120 for lodging on the way, $20 for trolls and $59 for
meals. Bill and Iris are allowed to take actual moving expenses
for their personal goods on line 1 of Form 3903 in the amount
of : - THE CORRECT ANSWER-$766
Annette and Grace married in June of 2018 and live in Cali.
Which of these would be considered community income if they
file MFS? - THE CORRECT ANSWER-Interest income of $300 Grace
received from an account she opened in July 2018 in separate
property state. She deposits a regular amount from her
paycheck each month into the account.
Marty receives a $100 distribution from a mutual fund. 49% of
the fund is in Cali municipal bonds, 49% in Nevada municipal
, bonds and 2% in Arizona municipal bonds. How much of the
$100 is taxable on the Cali return ? - THE CORRECT ANSWER-Mark for
follow up
Which of these passive loss rules for rental activity differs
between Cali and federal law ? - THE CORRECT ANSWER-Rules for real
estate professionals engaged in a real property business
If a worker received a Form 1099 MISC but is actually an
employee, what forms can be filed to correct this ? - THE CORRECT
ANSWER-Schedule C
What is the Nine- Monty Presumption of Residence Rule ? - THE
CORRECT ANSWER-Both A and B
Jack signed a three year contract to support construction
projects in Afghanistan. He left cali on March 15, 2017 leaving
his family in their home in Ventura, Cali. He returned home for
30-day vacations in 2017 and 2018. Which of the following
regarding his Cali residency status is true ? - THE CORRECT ANSWER-
He was a part year resident in 2017 and non resident for 2018
Which of the following statements is correct when considering
the factors that determine Cali residency? - THE CORRECT ANSWER-If
you live in Cali for nine months, you are automatically a
resident for tax purposes.
Gary and Charlotte has the following income and expenses for
2018: $45,000 in wages. $24,000 in rental income. $48,000 in
self employment receipts. $8,000 in rental expenses. $12,000
