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California Tax Form 540sd: Sales of Business Property

Use the California Tax Form Calculator California Tax Form 540sd: Sales of Business Property as a stand alone tax form calculator to quickly calculate specific amounts for your 2017 California state tax return. California Tax Form 540sd: Sales of Business Property 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.

Sales of Business Property
Part I Sales or Exchanges of Property Used in a Trade or Business and Involuntary Conversions From Other
Than Casualty and Theft – Property Held More Than 1 Year
Use federal Form 4684, Casualties and Thefts, to report involuntary conversions from casualty and theft
11
2(a)
Description of property
(b)
Date acquired (mm/dd/yyyy)
(c)
Date sold (mm/dd/yyyy)
(d)
Gross sales price
(e)
Depreciation allowed or allowable since acquisition
(f)
Cost or other basis, plus improvements and expense of sale
(g)
Gain or (Loss) Subtract (f) from the sum of (d) and (e)
33
44
55
66
77
IRC Section 179 Assets: For reporting the sale or disposition of assets for which an IRC Section 179 expense deduction was claimed in a prior year, see instructions. Partnerships or Limited Liability Companies (classified as partnerships): Enter the gain or (loss) on Schedule K (565 or 568), line 10. Skip lines 8, 9, 11, and 12 below. S corporations: If line 7 is zero or a loss, enter the amount on line 11 below and skip line 8 and line 9. If line 7 is a gain, continue to line 8. All others: If line 7 is zero or a loss, enter the amount on line 11 below and skip line 8 and line 9. If line 7 is a gain and you did not have any prior year IRC Section 1231 losses, or they were recaptured in an earlier year, enter the gain as follows: Form 540 and Long Form 540NR filers, enter the gain on Schedule D (540 or 540NR), line 1, and skip lines 8, 9, and 12 below; Form 100 and Form 100W filers, enter the gain on Schedule D, Side 6, Part II, line 6, and skip lines 8, 9, and 12 below.
88
99
S corporations: If line 9 is more than zero, enter this amount on Schedule D (100S), Section B, Part II, line 5 and enter the amount, if any, from line 8 on line 12 below. If line 9 is zero, enter the amount from line 7 on line 12 below. All others: If line 9 is more than zero, enter the amount from line 8 on line 12 below, and enter the amount from line 9 as follows: Form 540 and Long Form 540NR filers, enter as a capital gain on Schedule D (540 or 540NR), line 1; Form 100 and Form 100W filers, enter the gain on Schedule D, Side 6, Part II, line 6. If line 9 is zero, enter the amount from line 7 on line 12 below. See instructions
Part II Section A – Ordinary Gains and Losses
10Ordinary gains and losses not included on line 11 through line 16 (include property held 1 year or less):
1111
1212
1313
1414
1515
1616
1717
18For all except individual tax returns, enter the amount from line 17 on the appropriate line of your tax return and skip linFor all except individual tax returns, enter the amount from line 17 on the appropriate line of your tax return and skip line a and line b below. For individual tax returns, complete line a and line b below: see instructions.e a and line b below. For individual tax returns, complete line a and line b below: see instructions.
a18a
b18b
Part II Section B – Adjusting California Ordinary Gain or Loss For individual tax returns (Form 540 and Long Form 540NR) only
1919
2020
21Ordinary gain or loss adjustment: Compare line 19 and line 20. See instructions.
a21a
b21b
Part III Gain from Disposition of Property Under IRC Sections 1245, 1250, 1252, 1254, and 1255
Description of IRC Sections 1245, 1250, 1252, 1254, and 1255 property.
Date acquired
(mm/dd/yyyy)
Date sold
(mm/dd/yyyy)
22a
b
c
d
Relate the properties on lines 22A through 22D to these columns ▸Property AProperty BProperty CProperty D
23Gross sales price23
24Cost or other basis plus expense of sale24
25Depreciation (or depletion) allowed or allowable25
26Adjusted basis. Subtract line 25 from line 2426
27Total gain. Subtract line 26 from line 2327
28If IRC Section 1245 property:28
aDepreciation allowed or allowable from line 2528a
bEnter the smaller of line 27 or line 28a28b
29If IRC Section 1250 property: If straight-line depreciation was used, enter -0- on line 29g, except for a corporation subject to IRC Sec. 291:29
aAdditional depreciation after 12/31/76. See instructions29a
bApplicable percentage multiplied by the smaller of line 27 or line 29a. See instructions29b
cSubtract line 29a from line 27. If line 27 is not more than line 29a, skip line 29d and line 29e29c
dAdditional depreciation after 12/31/70 and before 1/1/7729d
eEnter the smaller of line 29c or line 29d29e
fIRC Section 291 amount (for corporations only). See instructions29f
gAdd line 29b, line 29e, and line 29f29g
30If IRC Section 1252 property: Skip section if you did not dispose of farm land or if form is being completed for a partnership.30
aSoil, water, and land clearing expenses30a
bApplicable percentage multiplied by line 30a. See instructions30b
cEnter the smaller of line 27 or line 30b30c
31If IRC Section 1254 property:31
aIntangible drilling and development costs deducted after 12/31/7631a
bEnter the smaller of line 27 or line 31a31b
32If IRC Section 1255 property:32
aApplicable percentage of payments excluded from income under IRC Section 12632a
bEnter the smaller of line 27 or line 32a32b
Summary of Part III Gains. Complete property column A through column D for line 23 through line 32b before going to line 33.
3333
3433
3533
Part IV Recapture Amounts Under IRC Sections 179 and 280F(b)(2) When Business Use Drops to 50% or Less
(a) Expense deductions(b) Recovery deductions
36Expense deductions or recovery deductions. See instructions36
37Depreciation or recovery deductions. See instructions37
38Recapture amount. Subtract line 37 from line 36. See instructions38

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