2024 California Tax Form 540. For each child under age 19 or student under age 24 who received more than $2,500 of investment income in 2023, complete form 540 and form ftb 3800, tax computation. Schedule ca 540 instructions 2024 booklet.
Then, you calculate the 6% tax penalty, which amounts to 6% of $350, or $21. Check here if this is an amended return.