lilhk3
Level 1

My clients who are both CA residents have a CA LLC which owns multiple rental properties in Texas. The properties are handled by managers in Texas but my clients make major decisions.  The schedule IW for form 568 said that only income from CA source is subject to LLC fee. Since these rental properties are located in Texas, I assume they should be excluded from LLC Fee and I have to manually override on Lacerte.  Thank you for your comment.

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