Home
Forms Library
2023 Form 3885L Depreciation and Amortization 2023 Form 3885L Depreciation and Amortization

2023 Form 3885L Depreciation and Amortization 2023 Form 3885L Depreciation and Amortization-2025

2023 Form 3885L Depreciation and Amortization 2023 Form 3885L Depreciation and Amortization Preview on Page 1

Show details

4.3 out of 5

53 votes

The document is the 2023 California Form 3885L, which provides instructions for calculating depreciation and amortization for tangible and intangible assets placed in service during the taxable year. It outlines the necessary information to report, including asset descriptions, costs, methods of depreciation, and adjustments for differences between California and federal tax laws. The form is used by Limited Liability Companies (LLCs) to compute deductions on their income tax returns.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

The best way to edit 2023 Form 3885L Depreciation and Amortization 2023 Form 3885L Depreciation and Amortization in PDF format online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Handling paperwork with our extensive and user-friendly PDF editor is easy. Make the steps below to complete 2023 Form 3885L Depreciation and Amortization 2023 Form 3885L Depreciation and Amortization online easily and quickly:

Sign in to your account. Log in with your credentials or create a free account to try the service prior to upgrading the subscription.
Upload a document. Drag and drop the file from your device or add it from other services, like Google Drive, OneDrive, Dropbox, or an external link.
Edit 2023 Form 3885L Depreciation and Amortization 2023 Form 3885L Depreciation and Amortization. Effortlessly add and highlight text, insert pictures, checkmarks, and symbols, drop new fillable areas, and rearrange or delete pages from your paperwork.
Get the 2023 Form 3885L Depreciation and Amortization 2023 Form 3885L Depreciation and Amortization completed. Download your adjusted document, export it to the cloud, print it from the editor, or share it with other participants via a Shareable link or as an email attachment.

Take advantage of DocHub, the most straightforward editor to quickly handle your paperwork online!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

In which case should form FTB 3885A be used?

Use form FTB 3885A, Depreciation and Amortization Adjustments, 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.

Do I have to pay the California Franchise Tax Board?

Every corporation that is incorporated, registered, or doing business in California must pay the $800 minimum franchise tax.

How does bonus depreciation work in 2023?

The rules allowed Bonus Depreciation to 100% for all qualified purchases made between September 27, 2017 and January 1, 2023. Bonus Depreciation ramped down to 80% in 2023 and 60% for 2024. Bonus depreciation continues to ramp down for ensuing years: 40% in 2025, 20% in 2026, and 0% beginning in 2027.

Where is depreciation and amortization on tax return?

IRS Form 4562 is used to claim deductions for the depreciation or amortization of tangible or intangible property. Assets such as buildings, machinery, equipment (tangible), or patents (intangible) qualify. Land cannot depreciate, and so it can not be reported on the form.

What is the withholding exemption certificate in California?

Use Form 590, Withholding Exemption Certificate, to certify an exemption from nonresident withholding. Form 590 does not apply to payments of backup withholding. For more information, go to ftb.ca.gov and search for backup withholding. Form 590 does not apply to payments for wages to employees.

What is the California income tax exemption credit?

You may be eligible for a California Earned Income Tax Credit (CalEITC) up to $3,644 for tax year 2024 as a working family or individual earning up to $31,950 per year. You must claim the credit on the 2024 FTB 3514 form, California Earned Income Tax Credit, or if you e-file follow your softwares instructions.

What is the CA Form 3885 for 2023?

Purpose. Use form FTB 3885, Corporation Depreciation and Amortization, to calculate California depreciation and amortization deduction for corporations, including partnerships and limited liability companies (LLCs) classified as corporations.

What is the CA Form FTB 3885L?

Use form FTB 3885L, Depreciation and Amortization, to compute depreciation and amortization allowed as a deduction on Form 568, Limited Liability Company Return of Income.

2023 Form 3885L Depreciation and Amortization 2023 Form 3885L Depreciation and Amortization-2025

Here's how it works