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California Member's Share of Income, Deductions, Credits, etc. (Fill-in)
Extracted from PDF file 2023-california-form-568-schedule-k-1.pdf, last modified November 2023Member's Share of Income, Deductions, Credits, etc. (Fill-in)
TAXABLE YEAR 2023 Member’s Share of Income, Deductions, Credits, etc. CALIFORNIA SCHEDULE K-1 (568) For calendar year 2023 or fiscal year beginning and ending (m m / d d / y y y y) . (m m / d d / y y y y) Member’s name Member’s identifying number Address City LLC’s FEIN State ZIP code State ZIP code California Secretary of State file number LLC’s name Address City A What type of entity is this member? • See instructions. • Individual (2) • S Corporation (3) • Estate/Trust (1) (4) (5) (6) • C Corporation • General Partnership • Limited Partnership • LLP • LLC • IRA/Keogh/SEP (7) (8) (9) • Exempt Organization (11a) • Disregarded Entity (DE) (10) (11b) DE owner’s name ________________ (11c) DE owner’s TIN __________________ B Is this member a foreign member? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C Enter member’s percentage (without regard to special allocations) of: (i) Beginning •• Yes • No (ii) Ending Profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . % • . % Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . % • . % Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . % • . % Check if decreases is due to: • Sale or • Exchange of LLC interest. D Member’s share of liabilities: (i) Beginning (ii) Ending Nonrecourse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ . 00 •$ . 00 Qualified nonrecourse financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ . 00 •$ . 00 Recourse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ . 00 •$ . 00 • Check if any of the above liability is subject to guarantees or other payment obligations by the member . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Check the box if Item D includes liability amounts from lower tier partnerships or LLCs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E Reportable transaction or tax shelter registration number(s) F (1) Check here if this is a publicly traded partnership as defined in IRC Section 469(k)(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . For Privacy Notice, get FTB 1131 EN-SP. 7901233 Schedule K-1 (568) 2023 Side 1 • Member’s identifying number Member’s name (2) Check here if this is an investment partnership (R&TC Sections 17955 and 23040.1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G Check here if this is: • (1) • A final Schedule K-1 (568) (2) • An amended Schedule K-1 (568) • H Is this member a resident of California? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • • Yes ▶ • No I Did this member contribute property with a built-in gain or loss? If “Yes” attach statement. See instructions. . . . . . . . . . . . . . • Yes • No J Member’s share of net unrecognized IRC Section 704(c) gain or (loss) . . . . . . . . . . . . . (i) Beginning _____________ (ii) Ending _____________ K Analysis of member’s tax basis capital account: (a) Capital account at beginning of year • (b) (c) Capital contributed during year Current year net income (loss) • (d) Other increase (decrease) (attach explanation) • (e) (f) Withdrawals and distributions Capital account at end of year, combine column (a) through column (e) •( ) • Caution: Refer to Member’s Instructions for Schedule K-1 (568) before entering information from this schedule on your California return. (c) (b) (a) (d) California adjustments Amounts from Distributive share items Total amounts using federal Schedule K-1 California law. Combine (Form 1065) col. (b) and col. (c) (e) California source amounts and credits 1 Ordinary income (loss) from trade or business activities . . . . . . . . . . . . . . . . . . . . . . . • ▶ 2 Net income (loss) from rental real estate activities . . . . . . . . . . . . . . . . . . . . . . . . . . • ▶ • • 4 c Total guaranteed payments . . . . . . . . . . . . . . • ▶ 5 Interest income . . . . . . . . . . . . . . . . . . . . . . . . . • ▶ 6 Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • ▶ 7 Royalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • ▶ 8 Net short-term capital gain (loss) . . . . . . . . . . . • ▶ 9 Net long-term capital gain (loss) . . . . . . . . . . . . • ▶ 10 a Total gain under IRC Section 1231 (other than due to casualty or theft) . . . . . . • ▶ b Total loss under IRC Section 1231 other than due to casualty or theft) . . . . . . . • ▶ 11 a Other portfolio income (loss). Attach schedule • ▶ b Total other income. Attach schedule . . . . . . • ▶ c Total other loss. Attach schedule . . . . . . . . . • ▶ 3 Net income (loss) from other rental activities . . 4 a Guaranteed payments for services . . . . . . . . . Income (Loss) 4 b Guaranteed payments for capital . . . . . . . . . . Side 2 Schedule K-1 (568) 2023 7902233 Member’s name Member’s identifying number (a) Distributive share items 12 (b ) Amounts from federal Schedule K-1 (Form1065) (c) California adjustments (d) Total amounts using California law. Combine col. (b) and col. (c) (e) California source amounts and credits Expense deduction for recovery property (IRC Section 179) . . . . . . . . . . . . . . . . . . . . . 13 a Cash contributions . . . . . . . . . . . . . . . . . . . . Deductions b Noncash contributions . . . . . . . . . . . . . . . . . c Investment interest expense . . . . . . . . . . . . . d 1 Total expenditures to which an IRC Section 59(e) election may apply. . . . . . . . . 2 Type of expenditures ________________. e Deductions related to portfolio income. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . Other Information Tax-exempt Income Distributions and Nondeductible Alternative Minimum Tax (AMT) Items Expenses Credits f Other deductions. Attach schedule . . . . . . . . . 15 a Total withholding (equals amount on Form 592-B if calendar year LLC) . . . . . . . . . • ▶ b Low-income housing credit . . . . . . . . . . . . . c Credits other than line 15b related to rental real estate activities. Attach schedule. . . . . . . d Credits related to other rental activities. Attach schedule. . . . . . . . . . . . . . . . . . . . . . . e Nonconsenting nonresident members’ tax paid by LLC . . . . . . . . . . . . . . . . . . . . . . . f Other credits – Attach required schedules or statements . . . . . . . . . . . . . . . . . . . . . . . . 17 a Depreciation adjustment on property placed in service after 1986 . . . . . . . . . . . . . . . . . . . b Adjusted gain or loss . . . . . . . . . . . . . . . . . . c Depletion (other than oil & gas) . . . . . . . . . . d Gross income from oil, gas, and geothermal properties . . . . . . . . . . . . . . . . . . e Deductions allocable to oil, gas, and geothermal properties . . . . . . . . . . . . . . . . . . f Other alternative minimum tax items. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . 18 a Tax-exempt interest income . . . . . . . . . . . . . b Other tax-exempt income . . . . . . . . . . . . . . . c Nondeductible expenses . . . . . . . . . . . . . . . . 19 a Distributions of money (cash and marketable securities) . . . . . . . . . . . . . . . . . . b Distributions of property other than money. . 20 a Investment income . . . . . . . . . . . . . . . . . . . . b Investment expenses . . . . . . . . . . . . . . . . . . 21 22 c Other information. See instructions . . . . . . . • More than one activity for at-risk purposes. See instructions. • More than one activity for passive activity purposes. See instructions. 7903233 Schedule K-1 (568) 2023 Side 3 Member’s name Member’s identifying number Other Member Information Table 1 — Member’s share of nonbusiness income from intangibles (source of income is dependent on residence or commercial domicile of the member): Interest . . . . . . . $ Sec. 1231 Gains/Losses . . . . . . $ Capital Gains/Losses . . $ Dividends . . . . . . $ Royalties . . . . . . . . . . . . . . . . . $ Other . . . . . . . . . . . . . . $ FOR USE BY MEMBERS ONLY – See instructions. Table 2 — Member’s share of distributive items. A. Member’s share of the LLC’s business income. See instructions. $ B. Member’s share of nonbusiness income from real and tangible personal property sourced or allocable to California. Capital Gains/Losses . . . . . . . . . . . . . . . . . . . $ Rents/Royalties . . . . . . . . . . . . . . . $ Sec. 1231 Gains/Losses . . . . . . . . . . . . . . . . . $ Other . . . . . . . . . . . . . . . . . . . . . . $ C. Member’s distributive share of the LLC’s property, payroll, and sales: Factors Total within and outside California Total within California Property: Beginning . . . . . . . . . . . . . . . . . . . $ $ Property: Ending . . . . . . . . . . . . . . . . . . . . . . $ $ Property: Annual rent expense . . . . . . . . . . . $ $ Payroll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ $ Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ $ Side 4 Schedule K-1 (568) 2023 7904233
2023 California Schedule K-1 (568) Member’s Share of Income, Deductions, Credits, etc.
More about the California Form 568 Schedule K-1 Corporate Income Tax Tax Credit TY 2023
This form requires you to determine what type of organization or partner this member is before determining their income and any deductions that need to be applied.
We last updated the Member's Share of Income, Deductions, Credits, etc. (Fill-in) in January 2024, so this is the latest version of Form 568 Schedule K-1, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 568 Schedule K-1 directly from TaxFormFinder. You can print other California tax forms here.
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TaxFormFinder has an additional 174 California income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the California Form 568 Schedule K-1.
| Form Code | Form Name |
|---|---|
| Form 568 Schedule EO | Pass-Through Entity Ownership |
| Form 568 Schedule D | Capital Gain or Loss |
View all 175 California Income Tax Forms
Form Sources:
California usually releases forms for the current tax year between January and April. We last updated California Form 568 Schedule K-1 from the Franchise Tax Board in January 2024.
Form 568 Schedule K-1 is a California Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of California Form 568 Schedule K-1
We have a total of thirteen past-year versions of Form 568 Schedule K-1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form 568 Schedule K-1
2023 California Schedule K-1 (568) Member’s Share of Income, Deductions, Credits, etc.
2022 Form 568 Schedule K-1
2022 Schedule K-1 (568) - Member's Share of Income, Deductions, Credits, etc.
2021 Form 568 Schedule K-1
2021 California Schedule K-1 (568) Member’s Share of Income, Deductions, Credits, etc.
2020 Form 568 Schedule K-1
2020 California Schedule K-1 (568) Member’s Share of Income, Deductions, Credits, etc.
2019 Form 568 Schedule K-1
2019 California Schedule K-1 (568) Member’s Share of Income, Deductions, Credits, etc.
2018 Form 568 Schedule K-1
2018 Schedule K-1 (568) - Member’s Share of Income, Deductions, Credits, etc.
2017 Form 568 Schedule K-1
2017 California Schedule K-1 (568) - Member’s Share of Income, Deductions, Credits, etc.
2016 Form 568 Schedule K-1
2016 Form 568 K-1 - Member's Share of Income, Deductions, Credits, etc.
2015 Form 568 Schedule K-1
2015 Schedule K-1 (568) -- Member's Share of Income, Deductions, Credits, etc.
2014 Form 568 Schedule K-1
2014 Schedule K-1 (568) -- Member's Share of Income, Deductions, Credits, etc.
2013 Form 568 Schedule K-1
2013 Schedule K-1 (568) -- Member's Share of Income, Deductions, Credits, etc.
2012 Form 568 Schedule K-1
2012 Schedule K-1 (568) -- Member's Share of Income, Deductions, Credits, etc.
2011 Form 568 Schedule K-1
2011 Schedule K-1 (568) -- Member's Share of Income, Deductions, Credits, etc.
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