Changes to 2010 Forms
Updates to the Form 568 Worksheet on 03/02/2011 — Limited Liability Company Income Worksheet
We replaced text on the Form 568 Worksheet on line 8a.
8a Enter the total gross rents from federal Form 8825, line 17.
8a Enter the total gross rents from federal Form 8825, line 18a.
Reason for the changes
The IRS revised Form 8825 to change the line for entering total gross rents from line 17, to line 18a.
The amount entered on line 8a of the LLC worksheet is used in the computation of the LLC’s total California income. Correcting the federal form line reference will allow entry of the total gross rents amount, instead of income or (loss) from each property. This will prevent the LLC’s total California income from being under or over reported. As a result, there may be an increase or decrease in tax liability.