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California Tax Form 3834: Interest Computation Under the Look-Back Method for Completed Long-Term Contracts

Use the California Tax Form Calculator California Tax Form 3834: Interest Computation Under the Look-Back Method for Completed Long-Term Contracts as a stand alone tax form calculator to quickly calculate specific amounts for your 2017 California state tax return. California Tax Form 3834: Interest Computation Under the Look-Back Method for Completed Long-Term Contracts is also integrated into our comprehensive California State Tax Calculator where you can complete and save your calculations for later use. Alternatively you can use one of our Combined Federal and California State Tax Estimator to quickly calculate your salary, tax and take home pay in California.

Interest Computation Under the Look-Back Method for Completed Long-Term Contracts

If you owned an interest in a pass-through entity (S corporation, estate, trust, partnership, or LLC treated as a partnership) that holds one or more long-term contracts to which this interest computation relates, enter the name and identification number of the entity. Attach a schedule if there is more than one entity.
Part I Regular MethodFiling yearRedetermination years(c)
Totals add columns (a) and (b)
1Taxable income (loss) or net income (loss) for state purposes for the prior year(s) shown on tax return (or as previously adjusted) before net operating loss. If you were required to file form FTB 3834 for an earlier contract completion year, enter adjusted taxable income or net income for state purposes for the prior year(s) from form FTB 3834, line 3, for the most recent contract completion year that affects the prior year(s). Attach a copy of the prior year(s) form FTB 3834 to this formYear ended mm yyyy(a)
Year ended mm yyyy
(b)
Year ended mm yyyy
2Adjustment to income to reflect the difference between: (a) the amount of regular taxable income required to be allocated to postFebruary 1986 contracts completed or adjusted during the taxable year based on the actual contract price and costs; and (b) the amount of income reported for such contracts based on estimated contract price and costs. See instructions
3Adjusted taxable or net income for look-back purposes. Combine line 1 and line 2
4Tax on line 3 amount using tax rates in effect for the prior year(s). See instructions
5Tax shown on return (or as previously adjusted) for the prior year(s). See instructions. If you were required to file form FTB 3834 for an earlier contract completion year, enter the amount required to be reported on form FTB 3834, line 4, for the most recent contract completion year that affects the prior year(s)
6Increase (or decrease) in tax for the prior year(s) on which interest is due (or is to be refunded). Subtract line 5 from line 4
7Interest due on increase in tax, if any, shown on line 6. See instructions
8Interest to be refunded on decrease in tax, if any, shown on line 6. See instructions
9
10
Part II Simplified Marginal Impact Method
Date of each prior year to which interest computation relates(d)
Totals add columns (a), (b), and (c)
1Adjustment to regular taxable income to reflect the difference between (a) the amount of income required to be allocated for post-February 1986 contracts completed or adjusted during the taxable year based on actual contract price and costs; and (b) the amount of income reported for such contracts based on estimated contract price and costs. See instructions(a)
Year ended mm yyyy
(b)
Year ended mm yyyy
(c)
Year ended mm yyyy
2Increase (or decrease) in regular tax for prior year(s). Multiply line 1 in each column by the applicable regular tax rate. See instructions. For prior years beginning before 1987, skip line 3 and line 4 and enter on line 5 the amount from line 2
3Adjustment to alternative minimum taxable income to reflect the difference between: (a) the amount of income required to be allocated for post-February 1986 contracts completed or adjusted during the taxable year based on actual contract price and costs; and (b) the amount of income reported for such contracts based on estimated contract price and costs. See instructions
4Increase (or decrease) in alternative minimum tax (AMT) for prior year(s). Multiply line 3 in each column by the applicable AMT rate. See instructions
5Enter the amount from line 2 or line 4, whichever is larger. See instructions if either amount is negative. Pass-through entities (except S corporations): Skip line 6 and enter on line 7 the amount from line 5. S corporations: See General Information I, S Corporations
6Overpayment ceiling. For each column in which line 5 is a negative number, enter your total tax liability for the prior year, as adjusted for past applications of the look-back method, and after net operating losses, capital losses, and credit carryovers to that year. For each column in which line 5 is a positive number, leave line 6 blank and enter on line 7 the amount from line 5
7Increase (or decrease) in tax for the prior year(s) on which interest is due (or is to be refunded). Enter the amount from line 5 or line 6, whichever is smaller. Treat both numbers as positive when making this comparison, but enter the amount as a negative number
8Interest due on increase in tax, if any, shown on line 7. See the instructions for Part I, line 7 and line 8
9Interest to be refunded on decrease in tax, if any, shown on line 7. See the instructions for Part I, line 7 and line 8
10
See the instructions for Part I, line 9
11
See the instructions for Part I, line 10

Tip: use the California Tax Calculator to edit your refundable and non-refundable tax credits including California Tax Form 3834: Interest Computation Under the Look-Back Method for Completed Long-Term Contracts. Complete, Calculate, print and or save your tax calculation for later use.

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