California FTB Releases Instructions for Individual Income Tax Form FTB 3885A, Depreciation, Amortization Adjustments

The California Franchise Tax Board (FTB) Dec. 8 released instructions for 2020 Form FTB 3885A, Depreciation and Amortization Adjustments, for individual tax purposes. The FTB’s instructions: 1) clarify that taxpayers should use this form only if there is a difference between the amount of depreciation and amortization allowed as a deduction using California law and the amount allowed using federal law; 2) differentiate in depreciation methods between federal and state law; and 3) provide line by line instructions to prepare and file the form for each business or activity. [Cal. Franchise Tax Bd., 2020 Instructions for Form FTB 3885A, Depreciation ...