I have a single member LLC, disregarded entity, in California and need to file Form 568. I have found the part in TurboTax that helps me fill this out. But I am unsure what to do for this specific case below:
I have an online savings bank account for my LLC (using its EIN) that happens to have paid a little bit of interest (around $75).
This is reported this on my main tax return so the taxes are being paid for it. But I am unclear if I additionally need to enter the interest earned value on Form 568. I think it would go in Schedule K line 5, but reading the instructions for Form 568, I am under the impression that I skip Schedule K for single member LLCs.
This amount of interest will not change the amount/outcome I have to pay according to Form 568, as my total income for the LLC is below the threshold such that the $800 annual tax still covers everything.
What is the correct thing to do here?
