As mentioned, I have a C-Corp that I opened and earned income/paid myself wages for that corp for a few months during 2017. I then decided it was time to work for a large corporation as a salaried employee instead.
I received a 1099-Misc for services performed at the C-Corp. I also received a W-2 from the company I worked at as a salaried employee.
After a review of TurboTax Business, it seems to handle the corporate part well but not the personal income in it's entirety...only the amount that I paid myself from the corp. As to that personal income, I can't take personal deductions or credits e.g. child tax credits etc.
In turn, TurboTax Home and Business does not seem to permit specification for my Corporation type. I can enter a 1099-Misc but not for my Corporation just for myself.
Not opposed to use of both products but don't want to get this wrong and/or complete too many/few forms that might cause problems.
Thanks for any help.
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You need both a TurboTax Business (for your corporate return) and a TurboTax individual product.
Something that you should know is that you should have paid yourself W-2 wages from your corporation, not a 1099-MISC. Corporate officers are generally considered employees of their corporations. See this link to the IRS discussion, including treating employees as nonemployees.
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