Expense allocation worksheets (1041 CA)
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Hide expandable textCalifornia has two Expense Allocation Worksheets: a total version and a state source version.
State Source version
- Calculates like all other states.
Total version
- Shows all federal expenses adjusted for California law as necessary. See California law adjustments for a list of adjustments.
- Onvio Tax allocates federal expenses to total source income on state law basis. Expense adjustments, such as NOL differences, are generally based on income at the state level.
- Expenses appear under the Interest Income column if capital gains exist but not allocated expense, no income in return, or losses.
- You can force net income amounts for Schedule K-1 for both worksheets on the CA Income screen.
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