PatriciaV
Employee Tax Expert

Business & farm

During the California State interview, did you make any entries or adjustments from the Form 568 Schedule K-1 (California K-1)? 

 

You can check this by opening Form 568, p 3-5, and scrolling down to Schedule K Line 10a. This form will take manual entries for boxes that turn blue when you hover. As long as the numbers you type aren't red and the form doesn't have a red exclamation mark, your entry is acceptable.

 

Note: Schedule IW (LLC Income Wks) Line 14 (CA 1231 gains) comes from Form 568 Sch K Line 10a, which reports Sch K-1 Section 1231 Gains/Losses. Although you sold a rental property, the gain/loss is related to Sch K-1.

 

 

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