California Depreciation and Amortization
Extracted from PDF file 2022-california-form-3885-f.pdf, last modified January 2023
Depreciation and AmortizationTAXABLE YEAR 2022 CALIFORNIA FORM 3885F Depreciation and Amortization Attach to Form 541, Form 109, or Form 199. Name as shown on tax return FEIN Tangible and intangible assets placed in service during the 2022 taxable year: (a) Description of property (b) Date placed in service (mm/dd/yyyy) (c) Cost or other basis Depreciation (d) (e) Method of Life or figuring rate depreciation Amortization (f) Depreciation for this year (g) (h) (i) Code Period or Amortization for section percentage this year 1 Add line 1 column (f) and column (i) amounts. See instructions . . . . . . . . . . . . . . . . . . . 1 Depreciation 2 California depreciation for assets placed in service beginning before the 2022 taxable year. . . . . . . . . . . . . . . . . . . . . . . . . . 2 _________________ Be sure to make adjustments for any basis differences. 3 Total California depreciation. Add line 1(f) and line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 _________________ Amortization 4 California amortization for intangibles placed in service beginning before the 2022 taxable year. . . . . . . . . . . . . . . . . . . . . . . 4 _________________ Be sure to make adjustments for any basis differences. 5 Total California amortization. Add line 1(i) and line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 _________________ 6 Total depreciation and amortization. Add line 3 and line 5. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 _________________ General Information A Purpose In general, for taxable years beginning on or after January 1, 2015, California law conforms to the Internal Revenue Code (IRC) as of January 1, 2015. However, there are continuing differences between California and federal law. When California conforms to federal tax law changes, we do not always adopt all of the changes made at the federal level. For more information, go to ftb.ca.gov and search for conformity. Additional information can be found in FTB Pub. 1001, Supplemental Guidelines to California Adjustments. 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. We include information that is most useful to the greatest number of taxpayers in the limited space available. It is not possible to include all requirements of the California Revenue and Taxation Code (R&TC) in the instructions. Taxpayers should not consider the instructions as authoritative law. Use form FTB 3885F, Depreciation and Amortization, to compute depreciation and amortization allowed as a deduction on Form 541, California Fiduciary Income Tax Return, Form 109, California Exempt Organization Business Income Tax Return, or Form 199, California Exempt Organization Annual Information Return. Attach form FTB 3885F to Form 541, Form 109, or Form 199. Depreciation is the annual deduction allowed to recover the cost or other basis of business or income producing property with a determinable useful life of more than one year. Land is not depreciable. Amortization is an amount deducted to recover the cost of certain capital expenses over a fixed period. B Federal/State Differences California law has not always conformed to federal law regarding depreciation methods, special credits, or accelerated write-offs. 7641223 Consequently, the recovery periods and the basis on which the depreciation is calculated may be different from the amounts used for federal purposes. Reportable differences may occur if all or part of your assets were placed in service: • Before January 1, 1987. California disallowed depreciation under the federal Accelerated Cost Recovery System (ACRS). California depreciation is calculated in the same manner as in prior years for those assets. • On or after January 1, 1987. California provides special credits and accelerated write-offs that affect the California basis for qualifying assets. California does not conform to all the changes to federal law enacted in 1993. Therefore, the California basis or recovery periods may be different for some assets. • On or after September 11, 2001. California has not conformed to the federal Job Creation and Worker Assistance Act of 2002 which allows taxpayers to take an additional first year depreciation deduction and Alternative Minimum Tax depreciation adjustment for property placed in service after September 10, 2001. FTB 3885F 2022 Side 1 Additional differences may occur for the following: • Luxury automobile depreciation. Sport utility vehicles and minivans built on a truck chassis are included in the definition of trucks and vans when applying the 6,000 pound gross weight limit. However, California does not conform to the federal modifications to depreciation limitations on luxury automobiles (IRC Section 280F). Depreciation limitations placed in service in the calendar year 2022: For passenger automobiles (that are not trucks or vans) Tax year 1st Tax Year 2nd Tax Year 3rd Tax Year Each Succeeding Year Amount $3,460 $5,600 $3,350 $1,975 For trucks and vans Tax year 1st Tax Year 2nd Tax Year 3rd Tax Year Each Succeeding Year Amount $3,960 $6,300 $3,750 $2,275 For lease inclusion indexing amounts, go to ftb.ca.gov/forms/search and enter lease inclusion. Page 2 FTB 3885F Instructions 2022 • Amortization of Certain Intangibles. California conforms to IRC Section 197 relating to the amortization of intangibles as of January 1, 1994. There is no separate California election required or allowed. However, for IRC Section 197 property acquired before January 1, 1994, the California adjusted basis as of January 1, 1994, must be amortized over the remaining federal amortization period. • Special and Bonus Depreciation. California does not conform to the federal special or bonus depreciation for qualified property acquired and placed in service. • Election to Expense Certain Tangible Property (IRC 179). This election does not apply to estates and trusts. Differences may also occur for other less common reasons. This list is not intended to be all-inclusive of the federal and state differences. For more information about adjustments, get FTB Pub. 1001, or refer to the R&TC. Specific Line Instructions Line 1 – Complete columns (a) through (i) for each asset or group of assets placed in service during the 2022 taxable year. Enter the column (f) totals on line 1(f). Enter the column (i) totals on line 1(i). Attach a schedule if you need additional space. Line 2 – Enter total California depreciation for assets placed in service beginning before the 2022 taxable year, taking into account differences in asset basis or differences in California and federal tax law. Line 4 – Enter total California amortization for intangibles placed in service beginning before the 2022 taxable year, taking into account any differences in asset basis or differences in California and federal tax law. Line 6 – Add line 3 and line 5. Enter the total here and attach to Form 541. If engaged in trade or business: Using California amounts, complete and attach federal Schedule C (Form 1040), Profit or Loss from Business, federal Schedule E (Form 1040), Supplemental Income and Loss, and/or federal Schedule F (Form 1040), Profit or Loss From Farming. Follow federal instructions for “Depreciation, Depletion, and Amortization” regarding dividing the deductions between the fiduciary and the beneficiaries. Form 109 filers: Enter the total on Form 109, Part II, line 21a. Form 199 filers: Enter the total on Form 199, Part II, line 16.
2022 Form 3885F Depreciation and Amortization California
More about the California Form 3885-F Individual Income Tax TY 2022
Please attach this form to forms 541, 109, or 199 before submission. This form includes both general information and specific line instructions.
We last updated the Depreciation and Amortization in February 2023, so this is the latest version of Form 3885-F, fully updated for tax year 2022. You can download or print current or past-year PDFs of Form 3885-F directly from TaxFormFinder. You can print other California tax forms here.
Other California Individual Income Tax Forms:
|Form Code||Form Name|
|Form 540||California Resident Income Tax Return|
|Form 540-540A Instructions||California 540 Form Instruction Booklet|
|Form 540 Schedule CA||California Adjustments - Residents|
|Form 540-NR Schedule CA||California Adjustments - Nonresidents and Part-Year Residents|
|Form 540-NR||California Nonresident or Part-Year Resident Income Tax Return|
California usually releases forms for the current tax year between January and April. We last updated California Form 3885-F from the Franchise Tax Board in February 2023.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of California Form 3885-F
We have a total of twelve past-year versions of Form 3885-F in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2022 Form 3885F Depreciation and Amortization California
2021 FORM 3885F Depreciation and Amortization
2020 Form 3885F Depreciation and Amortization
2019 Form 3885F Depreciation and Amortization California
2018 Form 3885F - Depreciation and Amortization California
2017 Form 3885F - Depreciation and Amortization California
2016 Form 3885F -- Depreciation and Amortization
2015 Form 3885F -- Depreciation and Amortization
2014 Form 3885F -- Depreciation and Amortization
2013 Form 3885F -- Depreciation and Amortization
2012 Form 3885F
2011 Form 3885F -- Depreciation and Amortization
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