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New Member
posted Jul 23, 2020 10:34:54 AM

Hello, I've filed my personal taxes already, but I need to file my taxes for my LLC. And, I need to produce a 10K for my partner's accountant.

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3 Replies
Level 15
Jul 23, 2020 10:36:47 AM

You mean a K-1 from the LLC Business return?

 

If you need to do a separate Business return for a 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust return you need to buy Turbo Tax Business in addition to a personal program.

 

Turbo Tax Business is not available to do online or on a Mac. You can buy the Window's (Win 7 or newer) 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

Level 15
Jul 23, 2020 10:38:53 AM

And by the way you need to do the LLC return first.  You will need to amend your personal return to enter the K-1 from the LLC return.  I hope you didn't just fill out a schedule C for it.  That's not right.  The first year or 2 you should have an accountant do the LLC return and set it up right.  Maybe his accountant can do it.  

Level 15
Jul 23, 2020 11:47:02 AM

And the partnership form 1065 was due back in March so unless it is on extension until 9/15 then it is now very late and the penalties are accruing as we speak ... seek local professional assistance to get educated on what needs to be filed and when and how.