UsingTurboTax Home & Business but have LLC. Since I'm usinga Mac computer, should I skip over the Business tab and only use the Personal tab for entering my personal tax?

1 reply
17 views

I'm using TurboTax Home & Business. Since I'm using a Mac computer, I understand that I have to use a windows platform. As I'm using the Home & Business software on my Mac, should I skip over the Business tab and only use the Personal tab for entering my personal tax info?

TurboTax Home & Biz Mac

tpkr58Answer

Level 4

An LLC is not a recognized taxable entity by the feds; LLC's are a creature of states. LLC's then can choose to report as an S-Corp, C-Corp, Partnership (if more than 1 member) or Sole Proprietor (1040-Schedule C) (if 1 member). So the answer to your question depends upon which entity the LLC is. The TurboTax Home and Business will work fine (even on a MAC) if the LLC is a Sole Proprietorship. If a different taxable entity is choosen Home in Business will not suffice. TurboTax does offer a comprehensive "Business" software package which completes returns for Estates and Trusts-Form 1041, S-Corps-Form1120-S, C-Corps Form-1120 and Partnerships Form-1065. The Business Software suite does require a Windows platform; it is not compatible with a MAC.