California Form 3800 - Tax Computation For Children With Investment Income- 1998
Download a blank fillable California Form 3800 - Tax Computation For Children With Investment Income- 1998 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete California Form 3800 - Tax Computation For Children With Investment Income- 1998 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1Tax Computation for Children with
TAXABLE YEAR
CALIFORNIA FORM
1998
Investment Income
3800
Attach ONLY to the child’s Form 540 or Form 540NR.
Child’s social security number
Child’s name as shown on return
Parent’s name (first, initial and last). (Caution: See instructions before completing.)
Parent’s social security number
Parent’s filing status (check one):
Single
Married filing joint
Married filing separate
Head of household
Qualifying widow(er)
Enter number of exemptions claimed on parent’s return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part 1
FIGURE CHILD’S NET INVESTMENT INCOME
1 Enter the child’s investment income, such as taxable interest and dividend income. See instructions.
If this amount is $1,400 or less, stop here; do not file this form . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
2 If the child DID NOT itemize deductions on Form 540 or Form 540NR, enter $1,400.
If the child ITEMIZED deductions, see instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3 Subtract line 2 from line 1. If zero or less, stop here; do not complete the rest of this
form but ATTACH it to the child’s return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4 Enter the child’s taxable income from Form 540, line 19 or Form 540NR, line 19 . . . . . . . . . . . . . . . . .
4
5 Net Investment Income. Enter the smaller of line 3 or line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
Part 2
FIGURE TENTATIVE TAX BASED ON THE TAX RATE OF THE PARENT LISTED ABOVE
6 Enter the parent’s taxable income from Form 540, line 19; Form 540A, line 16; Form 540EZ, line 16;
TeleFile Tax Record, line L; or Form 540NR, line 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
7 Enter the total net investment income, if any, shown on form(s) FTB 3800, line 5, of
ALL OTHER children of the parent. Do not include the amount from line 5 above . . . . . . . . . . . . . . . . .
7
8 Add line 5 through line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9 Tax on the amount on line 8 based on the parent’s filing status. Use the tax table or tax rate schedules
found in the 1998 instructions for Form 540, 540A or 540EZ. Form 540NR filers, see instructions . . . . . . . .
9
10 Enter the parent’s tax from Form 540, line 20; Form 540A, line 17; Form 540EZ, line 17;
or TeleFile Tax Record, line L. Form 540NR filers, see instructions . . . . . . . . . . . . . . . . . . . . . . . . .
10
11 Subtract line 10 from line 9. If you did not enter an amount on line 7, enter the amount
from line 11 on line 13 and skip line 12a and line 12b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12 a Add line 5 and line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12a
× .
b Divide line 5 by line 12a. Enter the result as a decimal (rounded to two places) . . . . . . . . . . . . . . . .
12b
13
13 Multiply line 11 by the decimal amount on line 12b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part 3
FIGURE CHILD’S TAX
Note: If the amounts on line 4 and line 5 above are the same, go to line 16.
14 Subtract line 5 from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
15 Tax on the amount on line 14 based on the child’s filing status. Use the tax table or tax rate schedules
found in the 1998 instructions for Form 540. Form 540NR filers, see instructions. . . . . . . . . . . . . . . . . .
15
16 Add line 13 and line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16
17 Tax on the amount on line 4 based on the child’s filing status. Use the tax table or tax rate schedules
found in the 1998 instructions for Form 540. Form 540NR filers, see instructions. . . . . . . . . . . . . . . . . .
17
18
Compare the amounts on line 16 and line 17. Enter the larger of the two amounts here and on the child’s Form 540,
18
line 20. Also check the box labeled ‘‘FTB 3800’’ on the child’s tax return. Form 540NR filers, see instructions. . . . .
Do not use form FTB 3800 if:
General Information
•
Neither of the child’s parents was living on December 31,
Purpose
1998; OR
•
The child’s investment income was less than $1,400.
For children under age 14, investment income over $1,400 is
If the child does not file form FTB 3800, figure the tax in the
taxed at the parent’s rate if the parent’s rate is higher than the
normal manner on the child’s Form 540, Form 540A, Form
child’s rate. If the child’s investment income is more than
540EZ or Form 540NR.
$1,400, use this form to figure the child’s tax. However, include
Note: Parents of children under age 14 may elect to include the
only income taxed by California on this form. Also include
child’s investment income on the parent’s tax return. To make
investment income that was not taxed on the child’s federal tax
this election, the child must have had income only from interest
return but is taxable under California law.
and dividends. The election is not available if estimated tax pay-
If the child uses form FTB 3800, he or she must file Form 540,
ments were made in the child’s name. Refer to form FTB 3803,
California Resident Income Tax Return or Form 540NR, Califor-
Parents’ Election to Report Child’s Interest and Dividends, for
nia Nonresident or Part-Year Resident Income Tax Return.
380098109
FTB 3800 1998 Side 1
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial