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I have a question regarding submission of a 1997 CA 540

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I have a question regarding submission of a 1997 CA 540 form.

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

I was advised of a liability from the CA Franchise tax board for 1997 when I was a resident. I contacted them and they stated I could submit a CA 540 form as some of the monies were from 1099. They provided income and withholding credit. Need assistance in completing CA 540

Accountant's Assistant: Is there anything else important you think the Accountant should know?

Not that I am aware of

Submitted: 4 months ago.Category: Tax
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1/5/2018
Tax Professional: Mark D, Enrolled Agent replied 4 months ago
Mark D
Mark D, Enrolled Agent
Category: Tax
Satisfied Customers: 1,342
Experience: MBA, EA, Specializing in Business and Individual Tax Returns and Issues
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Hello, were you a full year CA resident in 1997? Did you file a Federal return?

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Customer reply replied 4 months ago
I was a full year resident in CA in 1997. I did file in 1997 but don't have a copy. That was quite a while ago
Tax Professional: Mark D, Enrolled Agent replied 4 months ago

CA will base their assessment on your Federal return, although there is a chance they are strictly basing it off of 1099s (no expenses). Your 540 reported Federal AGI (Adjusted Gross Income) MUST match your 1040 AGI. The first step would be to call the IRS and request an account transcript for 1997. You can then use that information to fill out the 540. Please let me know if you need additional help.

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Customer reply replied 4 months ago
I was provided with my AGI as well as current withholding credit.
Tax Professional: Mark D, Enrolled Agent replied 4 months ago

Got it. You will fill out the below form and file. Please let me know what boxes and lines you have any questions on

https://www.ftb.ca.gov/Archive/Forms/1997/97_540.pdf

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Tax Professional: Mark D, Enrolled Agent replied 4 months ago

Also note CA has a 20 year Statute of Limitations, starting from assessment date. If you owe a significant amount, filing a return will restart this limit and you may want to reconsider depending on collection efforts and amount of time left on statute

https://www.ftb.ca.gov/Archive/Professionals/Taxnews/2010/April/Article_12.shtml

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Customer reply replied 4 months ago
The tax year in question is 1997. They are saying I owe $12,828 and with penalty and interest, it comes to $27,749.72. This is the first letter I have heard from them.
Customer reply replied 4 months ago
With the 2017 over, does this mean the status of limitation is in place?
Tax Professional: Mark D, Enrolled Agent replied 4 months ago

What was your AGI, filing status, and amount of tax withheld?

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Tax Professional: Mark D, Enrolled Agent replied 4 months ago

No on the statute question, it would depend on when they assessed, which could have been recent. You would want to ask the date of assessment

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Customer reply replied 4 months ago
Filing status was single.
AGI $157,851 ($97,851 from Salick Healtcare, $30K from St. Francis Med Ctr as a 1099, $30K from Catholic Healtcare West as 1099).
Tax witholding credit of $8,030.
I worked up schedule A and estimate itemized deduction of $14K
Tax Professional: Mark D, Enrolled Agent replied 4 months ago

Did you have expenses on your Federal Schedule C? I do not think they gave you an AGI, I think they gave you total income reported. I would get a IRS return transcript.

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Customer reply replied 4 months ago
I don't recall if there is a federal schedule C for 1997. Is there a number I can reach the IRS for the transcript?
I was advised by the person (Val) at the tax board to fill the CA(540) - adjustment and send back to them to make the updates, recalculate and with the itemization, the amount would be materially less.
Tax Professional: Mark D, Enrolled Agent replied 4 months ago

It likely will be zero (no refunds allowed at this point), especially with expenses.(###) ###-####is the IRS number to call, they can fax you a transcript same day. Use that info to fill out your 540.

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Customer reply replied 4 months ago
I will work to get the transcript. Online system is not available as maintenance is being performed till 1/8/2018 so on hold. Do you know if they will have the 1997 information?
Tax Professional: Mark D, Enrolled Agent replied 4 months ago

They should still have account transcripts

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Customer reply replied 4 months ago
I checked both online and direct phone and they do not have the transcript back that far. Advisement greatly appreciated.
Tax Professional: Mark D, Enrolled Agent replied 4 months ago

You are correct, it appears they now only go back 10 years. My suggestion would be to create a 540 (and schedule C for any business expenses) utilizing the supplied 1099 income amounts as gross receipts.

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