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Business & farm
It sounds like you elected to be treated as a Partnership. According to the State of California, "An LLC that has elected to be treated as a partnership for tax purposes uses Schedule K‑1 (568), Member's Share of Income, Deductions, Credits, etc., to report your distributive share of the LLC's income, deductions, credits, etc."
In this case, you would need to prepare and file both Federal and a State Income tax returns using TurboTax Business. Then you would include the information from Schedule K-1 on your personal 1040 tax return.
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March 28, 2022
7:02 AM