Am I correct in that a SMLLC 568 does not have a K1?

[Just-Lisa-Now- · Accepted solution]

You are correct an SMLLC does not issue K-1s at all.  

[abctax55]

SMLLC info is reported on the appropriate schedule on the Form 1040 of the member (Sch C, Sch E, Sch F....)

[abctax55]

And as Lisa clarified....no K-1 is issued as the income/expenses are reported on the F 1040

[tadtaxservice]

What adjustments do I need to make on 540 Sch C since SMLLC flows here from 1040 C

[abctax55]

None...you do have to make an adjustment on the CA return for the $ 800 LLC tax as it isn't deductible for CA purposes.

[Just-Lisa-Now-]

You should be filing both the CA 540 and the CA 568 for the client.  Be sure you marked the SMLLC box at the top of the Federal Sch C so that the CA 568 gets the information transferred to it.

[tadtaxservice]

Thanks I never did SMLLC seemed to easy to be correct.

[Aleida Gerena-Rios]

Need to file CA 540 and CA 568. Unable to find the box I need to check for SMLL on Schedule C. Please help.