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The only thing you need from the 1120S for your personal return is the K-1 and it cannot be transferred automatically from the business program to a personal program. If you use the ONLINE personal program you must use the Premier version or better. If you use the DOWNLOADED version you can use any of them.
To enter a K-1 go to
Federal Taxes Tab ( Personal in the H&B versions )
Wages and Income
Choose Explore on my own or I'll choose what to work on (if it comes up)
Then scroll way down to Business Items
S-corps, Partnerships, and Trusts. Schedules K-1, Q - Click the Start or Update button
Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S
If you used TurboTax Business to prepare the 1120-S for the S corporation, a K-1 should have been generated.
You simply enter the information from the K-1 (1120-S) into the TurboTax personal income tax preparation program.
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