Form 5805f - Underpayment Of Estimated Tax By Farmers And Fishermen - 1998
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1TAXABLE YEAR
Underpayment of Estimated Tax by
CALIFORNIA FORM
1998
5805F
Farmers and Fishermen
Attach this form to the front of your Form 540 or Form 540NR, even if you do not owe a penalty.
Your social security number
Name(s) as shown on return
Part I
Figure Your Underpayment
1 1998 tax after credits from Form 540, line 34; or Form 540NR, line 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
2 1998 tax on lump-sum distributions from Form 540, line 23; or Form 540NR, line 26 . . . . . . . . . . . . . . . . . . . .
2
3 Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4 Multiply line 3 by 66 2/3% (.6667). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
5 1998 withholding taxes from Form 540, line 38 and line 41; or Form 540NR, line 47 and line 50 . . . . . . . . . . . . .
5
6 Subtract line 5 from line 3. If less than $200 ($100 married filing separate), STOP. You do not owe a penalty. . . . . .
6
7 1997 tax after credits from Form 540, line 34; or Form 540NR, line 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
8 1997 tax on lump-sum distributions from Form 540, line 23; or Form 540NR, line 26 . . . . . . . . . . . . . . . . . . . .
8
9 Subtract line 8 from line 7. If less than $200 ($100 married filing separate), STOP. You do not owe a penalty. . . . . .
9
10 Enter the smaller of line 4 or line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
11 1998 withholding taxes and estimated tax payments made on or before January 15, 1999, from Form 540,
line 38, line 39 and line 41; or Form 540NR, line 47, line 48 and line 50. . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12 Underpayment. Subtract line 11 from line 10. If zero or less, you do not owe a penalty . . . . . . . . . . . . . . . . . .
12
Part II
Figure Your Penalty
13 Enter the date the amount on line 12 was paid or April 15, 1999, whichever is earlier . . . . . . . . . . . . . . . . . . .
13
14 Number of days after January 15, 1999, to and including the date on line 13 . . . . . . . . . . . . . . . . . . . . . . . .
14
Note: If you are a calendar year taxpayer and made no estimate payment, enter 90 days.
Number of days on line 14
15 Penalty:
x .08% x underpayment on line 12. Enter this amount on Form 540,
365
line 63; or Form 540NR, line 72. Also check the box on the estimate penalty line of your return. . . . . . . . . . . . . .
15
16 To request a waiver, check the box and provide an explanation below. See General Information E . . . . . . . .
•
General Information
D Exceptions to the Penalty
In 1997 or 1998, you retired after age 62 or
became disabled and your underpayment was
You do not owe a penalty for 1998 if:
A Purpose
due to reasonable cause; or
•
1. You file your 1998 tax return and pay the full
You underpaid your payments because of
Use Part I of form FTB 5805F to determine if you, as
amount of tax due by March 1, 1999;
changes made by SB 519 (Stats. 1998,
a farmer or fisherman, paid the required amount of
2. The tax for 1997, after credits (Form 540,
Ch. 7) or AB 2797 (Stats. 1998, Ch. 322).
estimated tax. Use Part II to compute your estimate
line 34 less the tax on lump-sum distributions
To request a waiver you must:
penalty if you did not pay enough estimated tax.
included on line 23 and less line 38 and line 41;
•
Complete form FTB 5805F to compute the full
or Form 540NR, line 43 less the tax on
Important: Attach this form to the front of your
penalty which would normally be due;
lump-sum distributions included on line 26 less
•
Form 540 or Form 540NR on top of all forms, sched-
Check the box on line 16;
line 47 and line 50), was less than $200 ($100 if
ules and attachments, even if you do not owe a
•
Provide an explanation in the space provided of
married filing a separate return); or
penalty. This helps the Franchise Tax Board identify
the reason you are requesting a waiver of the
3. The tax for 1998 (from line 6) is less than $200
you as a farmer or fisherman and correctly process
estimate penalty. If you need additional space,
($100 if married filing a separate return); or
your tax return.
attach a statement;
4. 80% or more of the tax (excluding tax on
•
Check the box on Form 540, line 63; or
lump-sum distributions) for 1997 or 1998 was
B Qualifications
Form 540NR, line 72; and
paid by withholding; or
•
Attach form FTB 5805F to the front of your
5. 80% or more of the California adjusted gross
You are a farmer or fisherman when at least two-
return on top of any check, money order,
income reported on your 1998 tax return
thirds of your 1997 or 1998 gross income is from
Form W-2, Form 1099 or other special
consisted of wages subject to withholding;
farming or fishing. If you need help determining your
documentation.
however, this provision does not apply if a false
gross income, get Internal Revenue Service
or fraudulent withholding exemption certificate
Pub. 505, Tax Withholding and Estimated Tax.
F Amended Returns
was filed; or
If you determine that you are not a farmer or
6. You had no tax liability for 1997 and your 1997
fisherman, do not use this form. Instead, use form
If you file an amended return by the due date of
tax return was for a full 12 months (or would
FTB 5805, Underpayment of Estimated Tax by
your original return, use the amounts shown on your
have been had you been required to file). You
Individuals and Fiduciaries, to determine if you owe
amended return to figure your underpayment. If you
need not have had income in each month.
an estimate penalty.
file an amended return after the due date of your
original return, use the amounts shown on the
E Waiver of the Penalty
C Required Estimate Payment
original return.
All or part of the penalty for underpayment may be
Exception: If you and your spouse file a joint return
If you are a farmer or fisherman, you are required to
waived if:
after the due date to replace separate returns you
make an estimated tax payment of 66
2
⁄
% of your
3
•
originally filed by the due date, use the amounts
You underpaid the estimated tax because of a
1998 tax or 100% of your 1997 tax, whichever is
shown on the joint return to figure your underpay-
casualty, disaster or other unusual circumstance
less. If you are a calendar year taxpayer, your pay-
ment. This rule applies only if both original separate
and it would be inequitable to impose the
ment is due January 15, 1999. If you are a fiscal-
returns were filed on time.
penalty;
year taxpayer, your payment is due the 15th day of
the 1st month after the close of your taxable year.
5805F98109
FTB 5805F 1998
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