California Error Regarding Form 7203

[alisonbianca]

Hello,

California FINALLY updated all of their forms related to the new Pass-Through Entity Tax and passage of SB113, and now I'm getting an error diagnostic on my individual client's return saying that there is a California version of the new federal basis tracking form 7203.  Seriously?? I don't see anything on the California FTB website about this at all...Is this a glitch in the programming? Help please! My clients have been waiting WEEKS for their tax returns.  

[Strongsilence-CPA]

Many of us have your attitude; take a look at the comments over at Caltax.com

Apparently, we need to wait.  But I'm hoping that we can attach a manually prepared 7203 for CA while we wait.

[alisonbianca]

Ridiculous! Thank you for sharing the Caltax posts.  Ugh

[alisonbianca]

It has now been confirmed by California tax experts who have a direct line of communication with the Franchise Tax Board that this form DOES NOT EXIST, and there are no plans for one to exist any time soon.  This diagnostic and the blank form need to be removed from the program immediately please!!

[Strongsilence-CPA]

If you are speaking about Spidell experts, provide the link for Jim and Alicia.  Then that should get the ball rolling with the Lacerte people in charge.

@IntuitJim 

or 

@IntuitAlicia 

[alisonbianca]

Yes. I am referring to Spidell.  Here's a link to the posting.  However, as of this afternoon Lacerte now has a tentative form release date for the California Form 7203 of March 31st.  Now I have no idea whether the form is scheduled to be released by the FTB or not.  

https://www.caltax.com/forums/topic/california-form-7203/#post-339968

[abctax55]

Hot off the Spidell presses - take note of the last sentence...

SPIDELL

Tax • Analysis • Education

California is not creating Form 7203 (03-25-22)

We have been contacted recently by many practitioners about a critical diagnostic in Lacerte and ProConnect stating that their returns cannot be filed because California Form 7203 is not available yet. The Lacerte forms availability page lists this form under California individual forms and states that it will be available March 31.

We have confirmed with the FTB that there is no California Form 7203 and they are not creating one at this time. Spidell has asked the FTB to reach out to their contacts at Intuit about this issue.

[IntuitAlicia]

@Strongsilence-CPA  Thanks for the tag.

Reading through the thread, I see some confusion around this that hopefully I can clear up. 

Our program generated a critical diagnostic to warn users that the California 7203 was not yet available.  This diagnostic has since been removed, and the lfs.intuit.com tool which references Individual CA forms, was updated to include Form 7203. 

To be clear, Lacerte is not planning on introducing a California Form 7203. However, California Form 7203 Worksheet was introduced in Lacerte with yesterday's update Version 42.0329.  If there are differences reported between California and Federal in the input screens, this "7203 Wkshts" will generate in the California form set within Lacerte to show these differences (similar to our CA version of 4562). When viewed, you'll see the Federal 7203 with California amounts. "California Copy - California Amounts" will be printed across the top.