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rjones2
New Member

How do I open 2016 premier to do an LLC return

 
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AmandaR1
New Member

How do I open 2016 premier to do an LLC return

It looks like you are in Premier Desktop, which you cannot use for a business tax return.

If you have a Single Member LLC, then your business defaults to be taxed as self-employed and you can file your business with your personal return, using TurboTax Self-Employed (online) or TurboTax Home and Business (desktop). 

If you have a 2+ members in your LLC, then the business defaults to be taxed as a Partnership and needs to file form 1065, which you can do with TurboTax Business. You'll give each member a schedule K-1 (1065), which you'll need to enter with your personal return, this year in TurboTax Premier.  

You can access the TurboTax Business software here. Otherwise, if you need to upgrade Premier to Home and Business, you can follow the instructions at the following TurboTax FAQ: https://ttlc.intuit.com/replies/3335282

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1 Reply
AmandaR1
New Member

How do I open 2016 premier to do an LLC return

It looks like you are in Premier Desktop, which you cannot use for a business tax return.

If you have a Single Member LLC, then your business defaults to be taxed as self-employed and you can file your business with your personal return, using TurboTax Self-Employed (online) or TurboTax Home and Business (desktop). 

If you have a 2+ members in your LLC, then the business defaults to be taxed as a Partnership and needs to file form 1065, which you can do with TurboTax Business. You'll give each member a schedule K-1 (1065), which you'll need to enter with your personal return, this year in TurboTax Premier.  

You can access the TurboTax Business software here. Otherwise, if you need to upgrade Premier to Home and Business, you can follow the instructions at the following TurboTax FAQ: https://ttlc.intuit.com/replies/3335282

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