Hello,
I filed my 2021 taxes for Federal and CA using Turbotax Home and Business. However I realize that I also need to file Form 568 for CA since I had a single member LLC setup in 2021. Income, if any (such as 1099 income) was already reported as part of personal tax return.
How do about filing Form 568 using Turbotax now and do I report all of my 1099 income as business income in Form 568? Appreciate any guidance.
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Yes, you can file California Form 568 using TurboTax Home & Business. Enter your EIN in your Federal return when you enter your business information to have Form 568 generate.
Your business income entries will populate the form.
Here's details from @JotikaT2:
FTB link to pay LLC fees online
Form 3522 will be used to pay your Annual Fee of $800.
CA single member LLC yearly payment voucher sample
Form 568 is your Limited Liability Company Return of Income tax return that is due by April 15th of each tax year assuming you are using a calendar year end.
Here's detailed info on California Form 568.
This is super useful. I had already filed my personal federal and state taxes for 2021. I went back to the return and updated the EIN for the business for which I need to file Form 568 but that does not seem to do anything to generate Form 568. Am I doing something wrong?
BTW when I filed my returns for 2021 back in April 2022, the business income was reported as part of Schedule C and taxes filed accordingly. Do I have to amend it and convert the business income to Schedule K and then generate 568? I dont want to revisit my 2021 taxes filed if I dont need to. My only objective at this point is to file 568 for CA
There's no need to amend your 2021 Tax Return but you will need information from your 2021 Schedule C to enter on CA Form 568.
For some guidance on how to fill out Form 568 use this link: How do I know if I should file California Form 568, LLC return of income for this year?
I am in the same situation.
Turbotax doesn't generate form 568 even I enter my EIN for my single-member LLC.
Turbotax used to do it in prior years!
How can I make Turbotax generate form 568??
Nevermind.
I went to the California tax return's business income and expense section, then Turbotax asked me if the business is a single-member LLC or not. Once I select yes, I am prompted to finish form 568.
this is super helpful, thank you! I finally get the Form 568 generated automatically:)
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