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Level 1

Question

Can I prepare a Partnership return on Turbo Tax and download all the partnership information from our Ameritrade account?Tom

Forum|Forum|7 years ago
June 4, 2019
3 replies
24 views

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TurboTax Premier Online

Level 7

You can prepare a partnership return on Form 1065 using TurboTax Business (not Home & Business). The Schedule K-1 included in the Form 1065 for each partner is then used by the partner in preparation of his/her personal Federal income tax return. You then use one of the personal versions of TT (Deluxe or above) to prepare the personal return. You cannot transfer information from TT Business to any of the TT personal versions. As for downloading from TDAmeritrade to Form 1065, I'm not sure but I think not.

Level 2

I used homa and business for form 1065 last year . I just purchased Home and Business for 2021 and it appears I cannot use it for 1-065 this year...What should I do??

Alumni - Champ

No, you did not use Home and Business last year for Form 1065...you used TT Business. They are different products.