California 568 CA adjustments--where to enter?

Forum|Forum|6 years ago
July 29, 2020
4 replies
38 views

I have a California LLC that has K-1 income from another partnership/LLC. The California amounts for line 1 income are $32,790 less than the federal amounts. I can't find anywhere to enter this difference. Trying to override amounts in column (c) on Page 5 results in an error and the Amount in Column does not decrease (it actually increased $6.800 which was the amount of state fees and taxes deducted on the federal return). It appears ProSeries is ignoring the override amount in column C altogether.

It appears ProSeries is still weak with regard to K-1 income on LLC and partnership returns. Entering California adjustments on individual K-1's is easy and built in to the 1040 program, but the 1065 565/568 programs do not accommodate this feature.

How can I enter California adjustments on the CA Form 568?

ProSeries Professional

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Just-Lisa-Now-

Intuit Community Champion

Ive never had one of these but doesn't Sch IW (Page 7) of the 568 allow you to enter additional income?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

L

LJHCPAAuthor

Level 4

I don't want to enter ADDITIONAL income. I want to DECREASE the CA line 1 income from the federal K-1. The Form 568 Schedule K is normally where the adjustments would be made, but ProSeries amounts are pre-calculated and you have to over ride them, but that creates a ProSeries error--and you cannot E-file a return with overrides. As far as I can tell the Schedule IW (Page 7) is just the calculation of the LLC fee and tax that California extorts from all LLC's.

The 568 Schedule K APPEARS to allow the entry of CA adjustments, but not for line 1 or line 2 income, and those are the two lines I need to adjust. Maybe there's some line in Sch K that I can enter just a negative amount in the CA adjustments column?

Just-Lisa-Now-

Intuit Community Champion

Its hard to try and work through what youre seeing and what you want to make happen without the actual file on the screen, but if you enter an amount as a negative (if you have a loss from another pass-thru entity) on the IW it changes the amount on Line 1 of the 568.

I do see on Sch K that adjustment column you mention, and youre right, theres not way to cross reference to see what feeds to that column to work your way back to the point of entry.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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