CA LLC Form 568 Efile for Tax Year 2021

[mbgsvo]

Hi,

For last year 2020's taxes, Turbo Tax Home & Business was not able to efile  CA LLC Form 568.

Is that fixes in 2021 Turbo Tax Home and Business? 

Or do we still need to ask for the waiver from CA FTB citing technology constraints and file the paper copy? 

Thanks,

Mahesh

[MaryK4]

Yes, you can use TurboTax Home & Business for Tax year 2021 to file Form 568 along with your personal Federal and State income tax returns. 

Form 568 is the Return of Income that many limited liability companies (LLC) are required to file in the state of California.

[mbgsvo]

Thanks - 

So based on your response, when we efile our Federal & CA taxes, we should get an option to efile CA 568 for our SMLLC as well for Tax year 2021 Turbo Tax  Home & Business. 

I had a follow-on question - 

When I was doing our taxes for 2021, it asked me to fill information regarding our Single Member LLC (the FTP SOS File#, EIN, etc) when it was generating the PDF for the CA 568.  It also asked me a bunch of yes/no questions, which I answered, including end-of-year assets (purchase property price of our rental etc.),  I did answer all these questions, and saved the PDF version for CA 568 in case I needed to get the waiver and file CA 568 using the paper copy in US Mail.

Since you are confirming that I can efile the CA 568 (at the time of efiling the the Federal & CA State taxes), do you know whether it will ask me these questions again for the SMLLC at the time of efiling?  

The reason for asking this question is because it appears that Turbo Tax Home and Business does not seem to remember the answers for CA 568 I gave the first time around, and wants to ask these questions again (I say this because I had to repeat some of these answers again when I fixed some stuff  for my state taxes which had nothing to do with LLC. But it asked all these basic questions all over again when generating the CA 568 PDF), which I thought it should have remembered (and perhaps allowed me to change it if needed)

Does anyone know whether there is any setting in Turbo Tax Home and business 2021 that will remember the responses for the CA 568?  Especially when I efile the state taxes along with the CA LLC form 568, I would be comfortable knowing that these entries have been filled correctly just before the efile.

Thanks,

Mahesh

[MaryK4]

It looks like the CA 568 "resets" in the interface so the entries must be re-entered.  See How do I preview my TurboTax Online return before filing? for the way to see the pdf of the return before you file.  

@mbgsvo

[mbgsvo]

Folks,

I did  Efile CA 568 for our SMLLC for Tax year 2021 using Turbo Tax Home & Business for Tax Year 2021. I was able to confirm it as well on the FTB website as well.

I wanted to know whether Turbotax Home & Business for Tax Year 2022 will continue to allow us to Efile CA 568 for SMLLC for Tax Year 2022

I ask because I cannot seem to find any statement to this effect on the Turbo Tax Home & Business 2022 (Desktop CD version), but I assume this efile capability for CA 568 is still present in Turbotax home & Business for Tax Year 2022

Thanks

mbgsvo

[ee-ea]

See this CA site   https://www.ftb.ca.gov/forms/2022/2022-568.pdf

[KORAT9]

Hi,

I recently filed my taxes using TurboTax Online Premium 2022 both personal and business after filing I realized; It did not fill out form 568. Do you know how to amend and find this form on TurboTax Online Premium 2022?

Thanks!

[PatriciaV]

The questions about Form 568 appear during California interview.

Go to the State Tax tab. Follow the interview to the Business Summary topic and click Edit. 

Look for two screens relating to Form 568: California requires that you e-file Form 568 and Creating Form 568. 

Complete these entries and TurboTax should create Form 568 for you.

Note that you must be filing for a Single-Member LLC that is a disregarded entity.