5805 Form Fillable Underpayment of Estimated Tax by Individuals and Fiduciaries
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1 Current year tax Enter your 2014 tax after credits See instructions 1 1 Enter your California adjusted gross income (AGI) for each period 2 Annualization amounts Estates or Trusts see instructions 2 4 2 4 1 5 1 2 Multiply line 1 by 90% ( 90) 2 3 Annualized income Multiply line 1 by line 2 3 3 Withholding taxes Do not include any estimated tax payments on this line See instructions 3 4 Enter your itemized deductions for the period shown in each column If you 4 Subtract line 3 from line 1 If less than $500 (or less than $250 if married/RDP filing a separate return) stop here 5 Annualization amounts 5 4 2 4 1 5 1 5 Enter the tax shown on your 2013 tax return See instructions (110% (1 10) of that amount if the adjusted gross income 6 Annualized itemized deductions Multiply line 4 by line 5 See instructions 6 6 Required annual payment Enter the smaller of line 2 or line 5 (If your California AGI is equal to or greater than 7 Enter the amount if any from Part II line 3 above 7 7 Enter your standard deduction from your 2014 Form 540 or 8 Enter line 6 or line 7 whichever is larger 8 8 Enter the total amount if any of estimated tax payments you made 8 9 Add line 7 and line 8 9 9 Subtract line 8 from line 3 9 Amount on Number of days paid b Enter the alternative minimum tax and mental health tax See Instructions 14b c Add line 14a and line 14b 14c d Enter the excess SDI from Form 540 line 74 or e Subtract line 14d from line 14c If zero or less enter 0 14e If the amount on line 10 was paid before 4/15/15 enter the result of the following computation: If you use the annualized income installment method for one payment due date you must use it for all payment due dates line 10 X before 4/15/15 X 00008 12 Regular Method to Figure Your Underpayment and Penalty line 1 23 The amount of your tax liability (not including tax on lump sum distributions) less credits (including the withholding credit) but not including The amount of your withholding plus your estimated tax payments if paid in the required installments is at least 90% of the tax shown on This schedule automatically selects the smaller of your annualized income installment or your regular installment Your 2013 return was for a full 12 months (or would have been if you were required to file) and you did not have any tax liability on that return $1 000 000/$500 000 for married/RDP filing a separate return use line 2) 6 $75 000 if married/RDP filing a separate return) and you are not using the annualized income installment method Taxpayers with California 1 Are you requesting a waiver of the penalty? If Yes provide an explanation below and be sure to check the box on Form 540 line 113; 1/1/14 to 1/1/14 to 10 Figure the tax on the amount in each column of line 9 using the tax table or the tax rate 10 Total underpayment for the year Subtract line 9 from line 6 If zero or less stop here You do not owe the 11 Enter the total amount of exemption credits from your 2014 Form 540 11 Multiply line 10 by 02121370 11 12 If the amount on line 10 was paid on or after 4/15/15 enter 0 12 Subtract line 11 from line 10 Long Form 540NR filers complete Worksheet I on 12/31/14 13 Enter the total credit amount from your 2014 Form 540 line 47; or Form 541 line 23 13 PENALTY Subtract line 12 from line 11 Enter the result here and on Form 540 line 113; 14 a Subtract line 13 from line 12 If zero or less enter 0 14a 15 Applicable percentage 15 27% 63% 63% 90% 16 Multiply line 14e by line 15 16 17 Enter the combined amounts shown on line 23 from all preceding columns 17 18 Subtract line 17 from line 16 If zero or less enter 0 18 19 Enter 30% of the amount shown on form FTB 5805 Part ll line 6 in columns (a & d) 2 Did you use the annualized income installment method? If Yes see instructions for Part III and be sure to check the box on 20 Enter the amount from line 22 from the preceding column 20 21 Add line 19 and line 20 21 22 Subtract line 18 from line 21 If zero or less enter 0 22 23 Enter line 18 or line 21 whichever is less Transfer these amounts to Worksheet II 3 Was your California withholding not withheld in equal installments and are you able to show the actual amounts withheld 3/31/14 4 For estates and trusts: Was the date of death less than two years from the end of the taxable year? See General Information E 4 Yes No 4/15/14 $ ; 6/15/14 $ ; 9/15/14 $ ; 1/15/15 $ 5/31/14 7671143 7672143 7673143 8/31/14 AGI equal to or greater than $1 000 000 (or $500 000 if married/RDP filing a separate return) must use the tax shown on their 2014 tax return Also include any tax from form FTB 3803 Estates or Trusts see instructions 10 and Penalty on page 4 of the instructions Attach this form to the back of your Form 540 Long Form 540NR or Form 541 Also check the box for underpayment of estimated by Individuals and Fiduciaries CALIFORNIA FORM Caution: See the instructions to find out if you can use the short method If you answered Yes to Question 2 in Part I skip this part and go to Part III Complete Line 17 through Line 23 of each column before you go to the next column do not itemize deductions enter 0 here and on line 6 Estates or Trusts enter 0 here skip to line 9 and enter the amount from line 3 on line 9 4 enter 40% of the amount on line 6 in column b enter 0 in column c 19 Estates and trusts do not use the period ending dates shown to the right estimated tax payments for either 2013 or 2014 was less than $500 (or less than $250 if married/RDP filing a separate return) Example A: If you were a commissioned salesperson who earned no income during the first three months of the year earned most of your income during the following six Example B: If you worked all year and earned a monthly salary that did not change much during the year you should not complete this schedule Fiscal year filers must adjust dates accordingly For Privacy Notice get FTB 1131 ENG/SP Form 540 line 113; Long Form 540NR line 123; or Form 541 line 42 2 Yes No Form 541 line 20 attributable to each period See instructions 1 FTB 5805 2014 Side 1 if they do not meet one of the two conditions above If Yes enter the actual uneven amounts withheld on the spaces provided below The total of the four amounts must equal the total If you answered No to Question 2 in Part I and you cannot use the short method go to Worksheet II in the instructions (page 4) If you meet any of the following conditions you do not owe a penalty for underpayment of estimated tax Do not complete or file this form if: IMPORTANT: In most cases the Franchise Tax Board (FTB) can figure the penalty for you and you do not have to complete this form See General in each column See instructions 7 Information B Instead use the following: 2/28/14 4/30/14 7/31/14 and 11/30/14 line 32 or Form 541 line 22 If you filed a Long Form 540NR see instructions 11 located on Form 540 line 113; Long Form 540NR line 123; or Form 541 line 42 whichever applies Long Form 540NR filers see instructions 13 Long Form 540NR filers see instructions Estates or Trusts enter the amount from Long Form 540NR line 123; or Form 541 line 42 Also check the box for FTB 5805 13 Long Form 540NR line 123; or Form 541 line 42 If you need additional space attach a statement Long Form 540NR line 18 Enter the total standard deduction amount Long Form 540NR line 84 14d month (See Example B) then you should not complete this schedule If you choose to figure the penalty see Worksheet II Regular Method to Figure Your Underpayment months and earned very little during the last three months you should complete this schedule You may be able to benefit by using the annualized income installment method Name(s) as shown on return page 3 of the instructions 12 Part I Questions All filers must complete this part Estates and Trusts see General information E Part II Required Annual Payment All filers must complete this part Part III Annualized Income Installment Method Schedule penalty Do not file form FTB 5805 10 per period and the actual dates withheld? 3 Yes No schedule in the instructions for Form 540 Long Form 540NR or Form 541 See General Information C 1 Yes No Short Method shown on that return is more than $150 000 or if married/RDP filing a separate return for 2014 more than $75 000) 5 Side 2 FTB 5805 2014 SSN ITIN or FEIN TAXABLE YEAR The required installment of estimated tax figured using the annualized method may be less than your required installment figured using the required installment method This space reserved for 2D barcode To complete this schedule correctly you must first complete Side 2 Part II line 1 through line 6 Underpayment of Estimated Tax Use this schedule ONLY if you earned taxable income at an UNEVEN RATE during 2014 (See Example A) If you earned your income at approximately the same rate each withholding reported on Form 540 line 71 and line 73; Form 540NR line 81 and line 83; or Form 541 line 29 and line 31 You do not owe the penalty Do not file form FTB 5805 4 your 2014 return or 100% of the tax shown on your 2013 return (110% if California adjusted gross income (AGI) was more than $150 000 or