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me23me
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I have C-Corp & received 1099-Misc. C-Corp earned money part of yr. & then I worked part of yr. at a company as an employee. What Turbotax products do I need?

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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3 Replies
IsabellaG
Expert Alumni

I have C-Corp & received 1099-Misc. C-Corp earned money part of yr. & then I worked part of yr. at a company as an employee. What Turbotax products do I need?

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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me23me
New Member

I have C-Corp & received 1099-Misc. C-Corp earned money part of yr. & then I worked part of yr. at a company as an employee. What Turbotax products do I need?

Hi, thank you. Someone who I performed services for issued my corporation a 1099-MISC is what I was trying to say. I purchased a copy of TurboTax Business today but wasn't sure what other individual product might work out for me. Any suggestions there? I have Home and Business already. Thanks so far!
IsabellaG
Expert Alumni

I have C-Corp & received 1099-Misc. C-Corp earned money part of yr. & then I worked part of yr. at a company as an employee. What Turbotax products do I need?

Then that's all you need! A business program and a personal program.
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