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Forum|Forum|6 years ago
April 23, 2020
1 reply
15 views

Hi! I owner a single member LLC and a multiple member LLC. I am looking to do my own taxes. Is there a software that can do that all together? or do I need to but the Business software to get the K1s and then file the single member through the online version?

Thanks in advance!

Best answer by Anonymous_

@rollestonvet wrote:

...do I need to but the Business software to get the K1s and then file the single member through the online version?

Yes, you need the Business software to get the K-1s (TurboTax Business - see link below) and then another TurboTax product to prepare your individual income tax return (either TurboTax Self-Employed or Home & Business).

https://turbotax.intuit.com/small-business-taxes/

Be advised that TurboTax Business must be installed and run in a Windows environment; there is no online or Mac version.

Further, if this is your first year preparing an income tax return for an LLC (Form 1065 for the multi-member LLC and Schedule C for the single-member LLC), you might want to consider professional tax guidance.

Anonymous_Answer

Level 15

@rollestonvet wrote:

...do I need to but the Business software to get the K1s and then file the single member through the online version?

Yes, you need the Business software to get the K-1s (TurboTax Business - see link below) and then another TurboTax product to prepare your individual income tax return (either TurboTax Self-Employed or Home & Business).

https://turbotax.intuit.com/small-business-taxes/

Be advised that TurboTax Business must be installed and run in a Windows environment; there is no online or Mac version.

Further, if this is your first year preparing an income tax return for an LLC (Form 1065 for the multi-member LLC and Schedule C for the single-member LLC), you might want to consider professional tax guidance.