California Form Ftb 3805p - Additional Taxes Attributable To Iras, Other Qualified Retirement Plans, Annuities, Modified Endowment Contracts And Msas - 1998 Page 4
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2
3
4Part II — Tax on Distributions from
Note: The following limitations apply to the
exceptions:
Ed IRAs Not Used for Educational
•
Exceptions 01 and 06 above do not apply
Expenses
to distributions from IRAs or annuity or
modified endowment contracts. They apply
Line 5 – Enter the amount from federal
only to distributions from qualified
Form 8606, line 29.
employee plans.
Form 540NR Filers: Enter the taxable
•
Exceptions 05, 07, 08 and 09 do not apply
amount of Ed IRA distributions included on
to annuities or modified endowment
Schedule CA (540NR), line 15, column E.
contracts.
Line 6 – Enter on line 6 the total amount that
Other exceptions. In addition to the excep-
can be excepted.
tions listed, the tax does not apply to any dis-
The 2
1
⁄
(.025) additional tax does not apply to
2
tributions from a plan maintained by an
distributions that are:
employer if:
•
•
Due to the death or disability of the
You separated from service by March 1,
beneficiary;
1986;
•
•
Made on account of a scholarship, allow-
As of March 1, 1986, your entire interest
ance, or payment described in IRC
was in pay status under a written election
Section 25A(g)(2); and,
that provides a specific schedule for distri-
•
Taxable solely because you chose to
bution of the entire interest; and
•
waive any exclusion you may be entitled to
The distribution is actually being made
for your 1998 qualified higher education
under the written election.
expenses. (This election was made by
Also, distributions from annuity contracts are
checking the box on federal Form 8606,
not subject to the additional tax on early distri-
line 28.)
butions to the extent that the distributions are
If you are not required to file Form 540 or
allocable to an investment in the contract
Form 540NR, see General Information C.
before August 14, 1982.
Form 540NR Filers: Enter the portion of the
Distributions that are dividends paid with
taxable Ed IRA (Schedule CA (540NR),
respect to stock described in IRC Sec-
line 15, column E) that qualifies for the
tion 404(k) are not subject to the additional
exception.
tax.
Line 8 – If you are not required to file
If any of these exceptions apply, enter the dis-
Form 540 or Form 540NR, see General Infor-
tribution amount on line 2 and exception num-
mation C.
ber 10 in the boxes provided. For additional
exceptions applicable to annuity contracts,
Part III — Taxable Medical Savings
see IRC Section 72(q)(2) and IRS
Account (MSA) Distributions
Publication 575.
Also enter on line 2 the amount of a distribu-
California law is the same as federal law
tion you received when you were age 59
⁄
or
1
regarding taxable distributions from MSAs,
2
older, if you received federal Form 1099-R for
except the additional tax on distributions not
a distribution that incorrectly indicated an early
used for qualified medical expenses is 10%
distribution (code 1).
for California. Complete federal Form 8853
before completing this part. You need to com-
Line 3 – Subtract the amount of distributions
plete line 9 and line 10 only if you have an
excepted from tax on line 2 from the amount
amount on federal Form 8853, line 10.
of early distributions included on line 1. Enter
the result on line 3. This is the amount of your
Line 9 – Enter the amount from federal
distribution subject to tax.
Form 8853, line 10.
Line 4 – Multiply line 3 by 2
1
⁄
% (.025). How-
Form 540NR Filers: Enter the taxable
2
ever, if any amount on line 3 was a distribu-
amount of MSA distributions that was included
tion from a SIMPLE retirement plan, you must
on Schedule CA, line 21, column E.
multiply that amount by 6% (.06) instead of
Line 10a – Check this box if you checked the
2
1
⁄
% (.025). SIMPLE distributions are
2
box on federal Form 8853, line 11a.
included in box 1 and box 2a of federal Form
Any distribution amount that is excepted from
1099-R and are designated with a code ‘‘S’’ in
the additional tax for federal purposes is also
box 7.
excepted from the additional tax for California.
Enter the total on line 4 and on Form 540,
Refer to the instructions for federal
line 36, or Form 540NR, line 45. If you are not
Form 8853, line 11a.
required to file Form 540 or Form 540NR, see
Form 540NR Filers: Enter the portion of the
‘‘When and Where to File’’ on Side 2 of form
taxable MSA (Schedule CA, line 21,
FTB 3805P.
column E) that qualifies for an exception.
Line 10b – If you are not required to file
Form 540 or Form 540NR, see General Infor-
mation C.
Side 4
FTB 3805P
1998
C2
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