California Form 593-E Draft - Real Estate Withholding - Computation Of Estimated Gain Or Loss - 2007

Real Estate Withholding —

CALIFORNIA FORM

YEAR

2007

Computation of Estimated Gain or Loss

593-E

(You are required to complete this form if you claim an exemption due to a loss or zero gain or if you elect an alternative withholding amount.)

(Name, mailing address (number and street, PO Box, rural route, apt no., or PMB no.) city, state, and zip code)

Seller or Transferor:

m

m

m

SSN or ITIN

FEIN

CA Corp. No.

____________________________________

Property address (if no street address, provide parcel number and county)

1 Selling price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 _______________

2 Selling expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 _______________

3 Amount Realized. Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 _______________

4 Enter the price you paid to purchase the property (If you acquired the property

other than by purchase, see page 9, Table 1 to determine your basis .) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 _______________

 Seller-paid points . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  _______________

 Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  _______________

7 Other decreases to basis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 _______________

8 Total decreases to basis . Add line 5 through line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 _______________

9 Subtract line 8 from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 _______________

10 Cost of additions and improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 _______________

11 Other increases to basis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 _______________

12 Total increases to basis . Add line 10 and line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 _______________

13 Adjusted basis. Add line 9 and line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 _______________

14 Enter any suspended passive activity losses from this property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 _______________

1 Add line 13 and line 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 ______________

1 Estimated Gain or Loss on Sale. Subtract line 15 from line 3 and enter the amount here . If you have a loss or zero gain, skip lines 17

and 18 . Complete the Seller’s Signature area below and check the Yes box on Form 593-C, line 3 . If you have a gain, go to line 17 . . . . . 1 ______________

17 Alternative Withholding Amount. Check the applicable box for the filing type .

m Individual 9 .3%

m Corporation 8 .84% m Bank or Financial Corporation 10 .84%

m S Corporation 1 .5% m Financial S Corporation 3 .5%

Multiply the amount on line 16 by the tax rate for the filing type selected above and enter the result on line 17 .

This is the alternative withholding amount .

If you elect the alternative withholding amount on line 17, check “Alternative Election” in box 6 of Form 593-B, and transfer the

amount on line 17 to Form 593-B, box 8 . Complete boxes 8 and 9 on Form 593-B, if applicable . Sign Form 593-B to

certify the election . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 ______________

1 /3

18 Standard Withholding Amount. Multiply the selling price on line 1 by 3

% ( .03333) and enter the amount on line 18 .

This is the standard withholding amount .

If you select the standard withholding amount on line 18, check “Total Sale Price” in box 6 of Form 593-B, and transfer the

amount on line 18 to Form 593-B, box 7b . Complete boxes 7a and 7b on Form 593-B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 ______________

Seller’s Signature

Note: Title and escrow persons and exchange accommodators are not authorized to provide legal or accounting advice for purposes of determining

withholding amounts. Transferors are strongly encouraged to consult with a competent tax professional for this purpose.

Under penalties of perjury, I hereby certify that the information provided above is, to the best of my knowledge, true and correct . I understand that the

Franchise Tax Board may review relevant escrow documents to ensure withholding compliance and if conditions change, I will promptly inform the withholding

agent . I understand that completing this form does not exempt me from filing a California income tax return to report this sale .

Seller’s Name (type or print) ______________________________________________________________________________________________________

Seller’s Signature _________________________________________________________________________________ Date: _______________________

Spouse’s Name (if jointly owned) __________________________________________________________________________________________________

Spouse’s Signature (if jointly owned) __________________________________________________________________ Date: _______________________

Form 593-E

2006

7151063

C2

For Privacy Notice, get form FTB 1131.