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PTE election in California

Forum|Forum|2 years ago
February 3, 2024
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I am self employed SMLLC , I did made estimated payments in 2023

However i did not do PTE election - by June 15,2023

Can i reclassify estimated tax to PTE? What form i have to submit then

Best answer by RobertB4444

California says that you needed to file the election with your timely filed return. Since you didn't do the election they will apply the payments to your personal return.

Here is the California Franchise Board info.

The only way to fix it going backwards is to contact the Franchise Board and see if they are willing and able to reassign the payments. I would say it is unlikely but it's worth a shot.

Here is how to contact the CFTB.

@Side_Gig

R

RobertB4444Answer

California says that you needed to file the election with your timely filed return. Since you didn't do the election they will apply the payments to your personal return.

Here is the California Franchise Board info.

The only way to fix it going backwards is to contact the Franchise Board and see if they are willing and able to reassign the payments. I would say it is unlikely but it's worth a shot.

Here is how to contact the CFTB.

@Side_Gig

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