MartyL
Level 3
02-14-2021
11:48 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Are there any specific rules or instructions for recognizing a gain (on a CA 540) that was previously deferred on a Form 3840? Thank you.
Labels
George4Tacks
Level 15
02-14-2021
12:06 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You need to file the form even if there are not collections, i.e. gain. https://www.ftb.ca.gov/about-ftb/newsroom/tax-news/october-2018/ftb-3840-california-like-kind-exchan...
These might be helpful
https://proconnect.intuit.com/community/lacerte-tax-discussions/discussion/ca-form-3840/00/102427
Here's wishing you many Happy Returns
