What are Forms 592-B?
California Form 592-B is used to report to a payee the amount of payment or distribution subject to withholding and tax withheld. Generally a taxpayer receives this form when they have backup withholding on a payment.
Who Must File form 592?
Use Form 592-PTE. You are reporting withholding on foreign partners or members. Use Form 592-F, Foreign Partner or Member Annual Withholding Return. You are reporting real estate withholding as the buyer or real estate escrow person withholding on the sale of real estate.
Who receives a 592-B?
Form 592-B must be provided to each foreign (non-U.S.) partner or member by: The 15th day of the 3rd month following the close of the partnership’s or LLC’s taxable year.
What do I do with a 592-B?
Use Form 592-B to report to the payee the amount of payment or distribution subject to withholding and tax withheld as reported on Form 592, Resident and Nonresident Withholding Statement, Form 592-PTE, or Form 592-F, Foreign Partner or Member Annual Withholding Return.
What is the difference between form 592 and 592 PTE?
Note: Lower tier PTEs are required to file Form 592-PTE to allocate withholding paid on behalf of nonresident owners, while upper tier PTEs are required to file Form 592-PTE to allocate withholding paid on their behalf to all owners, regardless of the state of residency of each owner.
What is the difference between form 592 and 592-PTE?
How do I file 592 B on Turbotax?
How to enter California Form 592-B in an individual return
- Go to the Input Return tab and select State & Local.
- Select Part-Yr./Nonres.
- Enter 1 in 1=592-B, 2=593.
- Complete the applicable information in the Withholding Agent section.
How do I pay my California Nonresident Withholding?
Send Form 592-V with a check or money order when you submit the nonresident or backup withholding amount on California source payments to us….
- Send us a timely Form 592-F, either electronically or by mail.
- List all payees withheld upon during the filing period.
- FTB credits the withholding to the payees’ accounts.