I'm using TurboTax 2020 Home & Business and its telling me to split our husband and wife owned LLC into two separate businesses. I don't get the option to ignore this "suggestion" and am forced to do so. When I input the split 50% numbers for each of us for separate Schedule C's, I don't get any Form 1065 generated. And the info doesn't carry over to the California return either and I don't get any Form FTB 568 generated either.
This doesn't seem right to me, as the FTB website clearly states: "If your LLC has one owner, you’re a single member limited liability company (SMLLC). If you are married, you and your spouse are considered one owner and can elect to be treated as an SMLLC. We require an SMLLC to file Form 568, even though they are considered a disregarded entity for tax purposes. They are subject to the annual tax, LLC fee and credit limitations."
Could this be a bug in the software? Or do I trust it and file anyway as the software says there are no errors. Any help would be much appreciated.
