I just bought the Turbotax Home & Business software so that I can use it to prepare my business tax return. I have a sub-chapter S corporation. Can the software do it? How do i go straight to the business return preparation without doing the personal return first. When i launched the software, it didn't give me an option for business tax return. Does the software support tax return for S corporation?
Sorry no. You need Turbo Tax Business.
The small business program (TT Business) is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns and will not do your personal 1040 return. It is a separate program from the Desktop Home & Business program or the Online Self Employed version.
Home & Business Desktop program or the Online Self Employed version is for personal returns that include a schedule C for self employment or sole proprietor. A single owner LLC would be reported on Schedule C unless the LLC elected to be treated as an S corp or C corp.
You will get a schedule K-1 (or a W2) from the business return to manually enter into your personal 1040 return.
Turbo Tax Business is not available to do online or on a Mac. You can buy the Window's version here. And you can have both TT Business and TT Home & Business (or any personal version) installed on your computer at the same time.
https://turbotax.intuit.com/small-business-taxes
How do i get help from a live person with TurboTax Business? I just paid $169.99 and cant find where to get help from a live person. Johnny
Contact Customer Service
You need to pick the CD/Download program in the product drop down box.
5am-5pm Pacific Time Monday -Friday
https://support.turbotax.intuit.com/contact/
What is the Turbo Tax phone number
https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632
Does TurboTax Business provide for completing and filing the 941 quarterly and the 940 annually?
If so, how? I see that I does 1099s and W-2, but there is nothing about 940 or 941.
No, TurboTax does income taxes. It does not do payroll taxes, sales taxes, excise taxes or other kinds of taxes. Only income taxes.
For a corporation, it REALLY is in your best interest to go to a tax professional for the corporate returns.
@maculligan wrote:
How do I download Turbo Tax Business 2021?
Go to this TurboTax website for the 2021 Business Edition - https://turbotax.intuit.com/small-business-taxes/
Did you buy it yet?
Turbo Tax Business is not available to do online or on a Mac. You can buy the Window's version here. And you can have both TT Business and TT Home & Business (or any personal version) installed on your computer at the same time.
https://turbotax.intuit.com/small-business-taxes
Desktop Windows System Requirements
Access your downloads here
https://shop.turbotax.intuit.com/commerce/account/secure/login.jsp?pagecontext=download
How to download your software purchase