[Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill (OBBBA)

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.

 

 

 

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