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Form FTB5870A Tax on Accumulation Distribution of Trusts - California
What Is Form FTB5870A?
This is a legal form that was released by the California Franchise Tax Board - a government authority operating within California. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form FTB5870A?
A: Form FTB5870A is the Tax on Accumulation Distribution of Trusts form for California.
Q: Who needs to file Form FTB5870A?
A: Trusts that have accumulated income exceeding $10,000 and have a California source-partnership or S corporation income allocation are required to file Form FTB5870A.
Q: What is the purpose of Form FTB5870A?
A: The purpose of Form FTB5870A is to calculate and report the tax on accumulation distributions made by trusts in California.
Q: When is Form FTB5870A due?
A: Form FTB5870A is due on or before the 15th day of the 4th month following the close of the taxable year.
Q: Is there a penalty for late filing of Form FTB5870A?
A: Yes, there is a penalty for late filing of Form FTB5870A. The penalty is based on the amount of tax due and the number of days late.
Q: Are there any exceptions to filing Form FTB5870A?
A: There are certain exceptions to filing Form FTB5870A, such as if the trust is a grantor trust or if it is a martial trust with only one beneficiary.
Q: Can Form FTB5870A be filed electronically?
A: No, Form FTB5870A cannot be filed electronically. It must be filed by mail or delivered in person to the Franchise Tax Board.
Form Details:
- Released on January 1, 2017;
- The latest edition provided by the California Franchise Tax Board;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form FTB5870A by clicking the link below or browse more documents and templates provided by the California Franchise Tax Board.
Download Form FTB5870A Tax on Accumulation Distribution of Trusts - California
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