I exchanged my California property for an out-of-state one — do I really have to file FTB 3840 every year now?
I sold a California rental and exchanged into a replacement property in Texas. At the federal level I deferred the gain under Section 1031. Now I'm hearing California wants me to keep filing some form 3840 every single year even though I have no other California income and the new property isn't even in California. Is that real? For how long? I own the property through a disregarded LLC.
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