corn1971
Level 1
12-07-2019
11:34 AM
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ProSeries is limiting me to only one SMLLC for my 1040. What is my best fix for this situation? Do I file a regular Schedule-C for one and a SMLLC for the other? Is there an override to this error?
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Level 15
12-07-2019
11:34 AM
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SMLLC is a disregarded entity for federal purposes, you should be able to have multiple Sch Cs that are SMLLCs...is it a state issue? I know CA will only allow 1 Form 568 for an SMLLC, if you have multiples, youve got to jump through some hoops to prepare and Efile the second one.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
corn1971
Level 1
12-07-2019
11:34 AM
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Actually, this taxpayer is located in Texas and there is no state tax return required.
Level 15
12-07-2019
11:34 AM
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Ooooh, I see, it pops up with a message that only 1 Sch C is allowed to be an LLC once you mark that LLC box for TX.
Does TX have some sort of LLC filing that is required?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Does TX have some sort of LLC filing that is required?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
corn1971
Level 1
12-07-2019
11:34 AM
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No filing requirement regarding LLC's in Texas. I think it may be a ProSeries issue and not a Texas Rule regulating LLC filings. Do you know if there is an override or a fix to this issue?
rbynaker
Level 14
12-07-2019
11:34 AM
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I suspect this has something to do with Texas Franchise Tax. @poolcleaner can probably help.
poolcleaner
Level 9
12-07-2019
11:34 AM
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You may be correct, Rick. I hadn't ever thought of it as relating to the Franchise Tax but if you file those taxes through ProSeries there would be an issue. I file those taxes on the state comptroller's website where each entity (S Corps, C Corps, LLCs, certain partnerships, and any other entity that has a Texas franchise) files a separate return. The more I think about it, I feel certain that you are correct, Rick, as that makes complete sense. Thank you! By the way, I have filed many returns with more than one Texas LLC using ProSeries and never have had any comebacks but I have never used ProSeries for the Texas Franchise Tax.
corn1971
Level 1
12-07-2019
11:34 AM
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Yes, I can see the issue clearly now. Thank you all for your help in this matter. Greatly appreciated!
Marc-TaxMan
Level 8
12-07-2019
11:34 AM
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@Just £isa Now! Have you explored to see if PS2019 allows CA e-file multiple SMLLCs?
Level 15
12-07-2019
11:34 AM
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Still gives the message that only 1 SMLLC is allowed when you check the LLC box on a second Sch C.....so at this point, looks like its still a limitation.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
abctax55
Level 15
12-07-2019
11:34 AM
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Maybe this will help.
HumanKind... Be Both