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One at a time. WHen you complete the first return and save it, click FILE then NEW TAX RETURN.
Can I enter multiple businesses for 1120-H returns?
From what I see, no version of TTX software including the business version, includes the 1120-H. If what I see is true, then you can't use any version of TurboTax to file an HOA return.
@NancySC wrote:
Can I enter multiple businesses for 1120-H returns?
What do you mean by "multiple businesses?
Form 1120-H is for HOAs and is only supported in the C corporation module in TurboTax Business.
I am using Home & Business:
*Instructions after you have completed 1st business.
1) Click "Business" tab
2) On "How do you want to enter your business income?" page Click either of 2 options, does not matter.
3) On "Let's gather your business info" page, choose "Business Income and Expenses" section and click "Update".
4) On "Here's the business info we have so far" page click "add a Another Business" button.
If you are using TurboTax Home and Business, clicking Add Another Business is not going to start a new tax return, it is adding another Schedule C to your Form 1040 return.
If you have multiple separate sole-proprietor businesses, then multiple Schedule Cs is the appropriate way to report this situation.
Sorry AnnetteB6, I was referring to another questions. You are right, of course. Feel free to edit or delete my replies if you think they are not helpful. Thank you!
Hi, I do not see any button or functionality that enables me to create a second or third, etc., new Sch. C.
Help!
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