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pohnpei6
New Member

How do you use turbo tax if part of my return ( multi member LLC) has already been done by an outside professional?

I want to do everything else with my taxes using turbo tax, but I shouldn’t have to use or pay for the full Business product cause that part’s already done
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2 Replies

How do you use turbo tax if part of my return ( multi member LLC) has already been done by an outside professional?

a multimember LLC would need to file a partnership return in which case you should have gotten a form

1065 k-1. this makes it relatively easy to do your return. you'll need to start from scratch and include the k-1 data in what you enter.  

 

How do you use turbo tax if part of my return ( multi member LLC) has already been done by an outside professional?

The dedicated Business Edition is only used to prepare a business tax return (multi-member LLC, partnership, C-corp, S-corp, etc.), and you say that a multi-member LLC return has already been prepared by an outside professional.

 

Online TurboTax is for personal tax returns, as is the personal desktop software Basic, Deluxe, Premier, and "Home and Business."

 

You appear to be using Online Premier (at least that is what is displayed underneath your question), which is a personal tax product used to prepare a personal tax return.  

 

Did the outside professional furnish you a K-1 from the multi-member LLC return?    If so, the Online Premier you appear to be using can handle the reporting of a K-1 you received.   

 

All of the personal desktop editions (CD/download) can handle the reporting of a K-1 you received, but differ in other ways we can tell you about, if you are considering desktop software.

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