It is not possible to include all requirements of the California Revenue and Taxation Code (R&TC) in the instructions. We include information that is most useful to the greatest number of taxpayers in the limited space available.

The instructions provided with California tax forms are a summary of California tax law and are only intended to aid taxpayers in preparing their state income tax returns. 1001, Supplemental Guidelines to California Adjustments, the instructions for California Schedule CA (540 or 540NR), and the Business Entity tax booklets. Additional information can be found in FTB Pub. For more information, go to ftb.ca.gov and search for conformity. When California conforms to federal tax law changes, we do not always adopt all of the changes made at the federal level. However, there are continuing differences between California and federal law.

In general, for taxable years beginning on or after January 1, 2015, California law conforms to the IRC as of January 1, 2015. The QI must provide supporting documentation for this transaction and attach to the Form 593. Enter the amount that should have been withheld on Form 593, Real Estate Withholding Statement, line 34 and certify this is a cash poor transaction on Side 3. Cash Poor Exchange – Effective January 1, 2022, a Qualified Intermediary’s (QIs) withholding obligation will be limited to available funds in those situations where the QI does not receive sufficient funds from escrow or the QI disbursed funds for purpose of completing an exchange under Internal Revenue Code (IRC) Section 1031.

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