HOPE2
Level 9

It is single member LLC FOR CALIFORNIA WHICH FIRST SHOULD FILE SCH C ON FEDERAL THEN BOX LLC FOR CA WAS MRKED SO WE HAVE TO HAVE A RETURN FOR CA AS SINGLE MEMBER LLC. IT IS STRIGHT FORWARD TO COMPLETE LLC SINGLE MEMBER.

NO C CORP, NO 1065, NO S CORP.

THE ONLY SHOULD FILE IT IS LLC SINGLE MEMBER FOR CA.

NOW I HAVE YOUR PART: 

A single-member LLC is a disregarded entity which means treated as if it does not exist for Fed tax filing and is when you use Sched C for the Fed form 1040. Since LLC is a State construct, your State may have different ways to handle this. This is Self-Employed, in that you and your business have no separate entity. You are your business.

A K-1 already is the end result of a separate business entity's tax filing preparation. It won't be used to make a Sched C for the same business.

ABOVE this is what I am telling. The return of LLC state part is completed. But in return I have SCHEDULE K (NOT K1) THAT IT HAS 3 COLUMNS, ON COLUMN (b) it says: Amount from federal k(1065) and the amount on there is NET INCOME ON SCH C OF FEDREAL. MY QUSTION: WHY IT IS GENERATED,  SCHEDILE K , Members' Shares of income, Deduction, Credit, etc SINCE 568 BOOKLET SAYS SHOULD NOT BE OTHERWISE WE HAVE MORE THAN $300000 INCOME.

 

 

 

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