How do I prepare a Form 1065 in TurboTax Home & Business edition?

[MelvaP]

Please help...I'm searching for the Sch C in Home and Business 2021.  Where do I access it.

[PatriciaV]

@MelvaP

Schedule C is entered under the Business tab in TurboTax Home & Business. Click Start under Business Income and Expenses and follow the interview to set up your Schedule C business and report your activity for the year.

[Montagdoris]

Which Turbotax product do I need to create a 1065 form for an LLC partnership?

[VolvoGirl]

You need Turbo Tax Business.  It  is a separate program from Home & Business.  It is not available to do online or on a Mac.  And It will not do your personal 1040 return.

You can buy the Window's version here…..

https://turbotax.intuit.com/small-business-taxes

Here are the system requirements to install Turbo Tax for Windows…..

https://ttlc.intuit.com/community/system-requirements/help/minimum-system-requirements-for-turbotax-...

[DoninGA]

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@Montagdoris wrote:

Which Turbotax product do I need to create a 1065 form for an LLC partnership?

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You will need the TurboTax Business Edition to complete a Partnership tax return, Form 1065.  The Business Edition can only be installed on a Windows based computer, not on a Mac or online.  The Business Edition cannot be used for a personal tax return, Form 1040.

Go to this TurboTax website for the Business Edition - https://turbotax.intuit.com/small-business-taxes/

[vickydo2075]

can I use home and business software for single LLC form 1065

[VolvoGirl]

@vickydo2075   What kind of LLC?  Are you a Single Member LLC?  If you need to prepare a 1065 business return you need Turbo Tax Business.  

Turbo Tax Business is a separate program from Home & Business.  TT Business is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns. Not for self employed independent contractors.  Turbo Tax Business  is not available to do online or on a Mac.  You can buy the Window's version here.  And you can have both TT Business and TT Home & Business (or any personal version) installed on  your computer at the same time.

You can buy the Window's version here…..

https://turbotax.intuit.com/small-business-taxes

[AliciaP1]

A single-member LLC would never file Form 1065, U.S. Return of Partnership Income since it does not have multiple members.  You can, however, use TurboTax Home and Business to file your single-member LLC on Schedule C of your individual Form 1040.

To enter your self-employment income in TurboTax Home and Business you can follow these steps:

1. Open or continue your return in TurboTax
2. Search for self employed income (use this exact phrase, don't add a hyphen) and select the Jump to link at the top of the search results
3. Answer Yes on the Did you have any self-employment income or expenses? screen
   • If you land on the Your 2022 self-employed work summary page, select Review next to the work you're adding income for
4. Answer the questions on the following screens 

@vickydo2075