2024 CA FTB Form 568 is missing ....

[amyonghwee]

I have a call from CA FTB telling me that 2024 CA tax returns is missing Form 568 for my LLCs. 

I looked at turbotax file for 2022 and 2023 where CA Form 568 are generated. I

looked at turbotax file for 2024 and the forms section is truly missing CA form 568.

I went to the 2024 TT CA state section > Income and adjustments > Business >  Rental or Royalty Adjustment, these are missing the rental properties entries!  I did NOT do anything differently from 2022 and 2023. 

2022 and 2023 CA state section does have the rental properties entries!

I am trying to figure out what did I do wrongly?

Does this mean I should redo CA 2024 tax returns ?

Pls help!

[RobertB4444]

Does your federal return have all of the rental property in the correct place?  TurboTax's system takes most of the cues for state information from the federal return and if there were any changes made there they would carry over.

[amyonghwee]

@RobertB4444 

TT imported prev year rental income info and I just updated with 2024 updated income. So I would think so.

I was checking TT community and it seems quite a number of people are having this missing Form 568 info!

[BillM223]

Did you use the Online product or the desktop (CD/download) product in 2024? 

If you used the desktop product in 2024, please open the 2024 TurboTax product on your computer and reopen your 2024 tax return.

Then go into Forms mode (upper right, "Forms") and navigate to your state return (below the federal return.

Look in your state return for one or more form 568s.

If the 568(s) are present, then reprint them and mail them to the location that sent you the notice (i.e., the CA FTB).

If the 568(s) are not present or you used the Online product (so don't have access to 2024 forms), then please go to this link from the Intuit support section, "Should I file California Form 568 LLC return of income?" and follow the instructions.

[amyonghwee]

@BillM223 

I am using the desktop (CD/download) product in 2024.

I did check 2024 tax return Forms section.. and there are no Forms 568. Then I compared 2024 TT with 2023 and 2022. And found that  2024 TT CA state section > Income and adjustments > Business >  Rental or Royalty Adjustment  are missing the rental properties entries!  Previous years 2022 and 2023, there are rental properties entries..Seems 2024 version did not import these to CA state.

FYI I have to file CA NR and UT resident. But I make sure to enter CA NR first before UT.

So if I should  go to "Should I file California Form 568 LLC return of income?" and follow the instructions, will this impact or change my 2024 tax returns?

[BillM223]

No, this will not affect your previously filed California tax return.

The amount owed on form 568 (if any) carries to form 3536, not to your CA 540 tax return. If you owe anything at the end of your 568, then open CA form 3536 (the 2024 version is here) and follow the instructions to make the payment.

The 568 appears to be a separate return that describes your LLC with details of your business operations, which information is not available otherwise on your CA 540 return. Hence it is filed separately and paid separately.

@amyonghwee 

[amyonghwee · Accepted solution]

Sharing this information ......... in case someone is seeing missing CA FTB Form 568..

This may pertain only to my situation..........

My 2024 federal tax return has all rental properties reported. Nothing to do with federal return impacting this CA form 568.

My steps to generate multiple CA FTB form 568 since I do have a few SMLLCs.

1. Go to Turbotax (TT) CA state section

2. Go to section "Here's the income that CA handles differently"

3. Under "Rental and royalty adjustment" Click edit.

4. You will see a listing of rental properties. Click edit.

5. Eventually you will be asked "Is Rental property owned by SMLLC?". Enter Yes.

6. You will see messages "Creating form 568" and "CA requires that you efile Form 568".

7. Then a list of LLCs will appear under "Form 568 Summary"

8. Click edit and enter required LLC info.

9. At the end of this change, you will see Form 3522, Form 568 for each LLC.