I have 2 - SMLLC's needing to be filed on Schedule C's and ProSeries is limiting to only one SMLLC for my 1040. How do I file if this limitation is prompting an error?

[corn1971]

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?

[Just-Lisa-Now- · Accepted solution]

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.

[corn1971]

Actually, this taxpayer is located in Texas and there is no state tax return required.   

[Just-Lisa-Now-]

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?

[corn1971]

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]

I suspect this has something to do with Texas Franchise Tax.  @poolcleaner can probably help.

[poolcleaner]

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]

Yes, I can see the issue clearly now.  Thank you all for your help in this matter.  Greatly appreciated!

[Marc-TaxMan]

@Just £isa Now! Have you explored to see if PS2019 allows CA e-file multiple SMLLCs?

[Just-Lisa-Now-]

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.

[abctax55]

Maybe this will help.  

https://accountants-community.intuit.com/questions/1853910-how-can-i-enter-two-2-llcs-on-one-return-...