568 Schedule K-1: Member's Share of Income, Deductions, Credits, etc. (2025)
California · FTB · Used for tax years 2025
California Schedule K-1 (568) reports an LLC member’s share of income, losses, deductions, credits, and distributions for 2025. It shows federal amounts, California adjustments, and California-source amounts, along with the member’s ownership percentages, share of liabilities, an
What you'll need
The form calls for these details and supporting materials:
- The member’s name, address, identifying number, entity type, foreign-member status, and California residency status.
- The LLC’s name, address, federal employer identification number (FEIN), and California Secretary of State file number.
- Amounts from federal Schedule K-1 (Form 1065), California adjustments, and California-source amounts and credits.
- Beginning and ending ownership percentages, the member’s share of liabilities, and tax basis capital account information.
- A statement if the member contributed property with a built-in gain or loss.
- An explanation for any amount entered as an “Other increase (decrease)” in the capital account.
- Supporting schedules or statements for entries where the form specifically requires them, including certain income, deductions, credits, and alternative minimum tax items.
For a calendar-year LLC, line 15a total withholding must equal the amount on Form 592-B.
Common mistakes
- Do not enter information from this schedule on your California return without first reviewing the Member’s Instructions for Schedule K-1 (568). The form specifically cautions members to consult those instructions.
Questions people ask
What does Schedule K-1 (568) report?
It reports a member’s share of income, deductions, credits, and other LLC information, including liabilities, distributions, and the tax basis capital account.
How are federal amounts and California amounts shown?
Column (b) shows amounts from federal Schedule K-1 (Form 1065). Column (c) shows California adjustments. Column (d) combines columns (b) and (c) to show total amounts using California law. Column (e) shows California-source amounts and credits.
How do I identify a final or amended schedule?
Item G has separate checkboxes for a final Schedule K-1 (568) and an amended Schedule K-1 (568).
What if the member contributed property with a built-in gain or loss?
Answer “Yes” in Item I and attach a statement. The form also directs you to see the instructions.
What extra information is requested for a disregarded entity?
Item A asks for the disregarded entity owner’s name and taxpayer identification number (TIN).