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R. Klein, EA
R. Klein, EA, Enrolled Agent
Category: Tax
Satisfied Customers: 3375
Experience:  Over 20 Years experience
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I have two single member LLC (disregarded entity) in California.

Customer Question

I have two single member LLC (disregarded entity) in California. I am using TurboTax Home & Business to file my personal tax. How can i get to the section where TT would tell me how much LLC tax to pay (something like $800 / LLC in California)?

TurboTax Business 2012's box shows it's for Multi -member LLCs. So I assume the Home & Business version of TT would handle single member LLC.
Submitted: 3 years ago.
Category: Tax
Expert:  R. Klein, EA replied 3 years ago.

Randalltax :

Thank you for contacting me about your Tax issue. I will work hard to help you understand the issue clearly.

Randalltax :

If you have a CA business that is a SMLLC, after you complete the federal return, you MUST go through the State Taxes interview.

Randalltax :

Under the Uncommon Income and other CA Adjustments screen, in the All Other Income Section , one of the options is BUSINESS SUMMARY that you must review.

Randalltax :

In the Business Summary, you MUST EDIT the businesses individually in this section if any business qualifies as a CA LLC.

Randalltax :

This will take you directly to Form 568 and you will need to manually complete sides 1 and 2 at the minimum.