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Learn how to complete Form 593, Real Estate Withholding Statement, for taxable years beginning on or after January 1, 2015. Find out the withholding requirements, exemptions, methods, and rates for different types of real estate transactions in California.
Determine whether you qualify for a full withholding exemption. Check all boxes that apply to the property being sold or transferred. • The property qualifies as the seller’s (or decedent's, if sold by the decedent's estate or trust) principal residence under Internal Revenue Code (IRC) Section 121.
On January 1, 2020, our new Form 593, Real Estate Withholding Statement went live. The new form is a combination of the prior: Form 593, Real Estate Withholding. Form 593-C, Real Estate Withholding Certificate. Form 593-E, Real Estate Withholding - Computation of Estimated Gain or Loss.
20 gru 2023 · Your California real estate withholding has to be entered on both the state and the federal return. First, complete your state return. When you reach Take a look at California credits and taxes, select Start next to Real Estate and Other Withholding. Complete this section to enter your information.
Form 593, also known as the “Real Estate Withholding Certificate,” is a document used in California real estate transactions. It serves as a mechanism for the collections of state income tax on the gain from the sale or transfer of real property.
Download or print the 2023 California Form 593 (Real Estate Withholding Tax Statement) for FREE from the California Franchise Tax Board.
California Real Estate Withholding. For All Sellers. Updated January, 2020 to reflect new Franchise Tax Board form. (State of California Real Estate Withholding. under the Revenue and Taxation Code Section 18662) Are you an individual who is looking to sell a property in California?
