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Need help amending CA Form 568 accidentally filed as MMLLC to SMLLC?

My wife and I are sole members of an LLC domiciled in California which is a community property state.  The LLC owns and rents real estate. I initially filed Form 1065 and CA Form 568 for 2023 with two K-1's, one each for my wife and me using Turbotax Business for Desktop. I have since learned that as a married couple in a community property state, our LLC qualifies for IRS treatment as a disregarded entity per IRS Revenue Procedure 2002-69. So for federal taxes we can dispense with the Form 1065 and K-1's and will report LLC activity directly on Form E of our joint tax return.  I believe that I can correct this with the IRS by amending the initial Form 1065 and K-1s to a final 1065 and K-1's. However, my question is how to achieve this same result on CA Form 568. How do I amend Form 568 initially filed as a MMLLC with two K-1's to a SMLLC, such that going-forward I will file Form 568 for our LLC annually as an SMLLC? Any help is greatly appreciated. 

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Accepted Solutions
RobertB4444
Expert Alumni

Need help amending CA Form 568 accidentally filed as MMLLC to SMLLC?

There is no need to file an amended return to correct this.  Just file the schedule E going forward and that will handle any income or expenses correctly.

 

@keymaster 

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1 Reply
RobertB4444
Expert Alumni

Need help amending CA Form 568 accidentally filed as MMLLC to SMLLC?

There is no need to file an amended return to correct this.  Just file the schedule E going forward and that will handle any income or expenses correctly.

 

@keymaster 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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