If you are a single member LLC or a sole proprietor, you will include your business information in your personal tax return. You will file a form 1040 and your business information will be reported on Schedule C. When using Turbo Tax, use either Turbo Tax Self Employed (online) or Turbo Tax Home and Business (desktop software).
You will enter your business information under the Business tab of the program. There is a section to enter the general information about the business and then there sections for both income and expense. The program will generate a Schedule C which is included in your individual tax return.
If you have a multi- member LLC or a partnership, you will use Turbo Tax Business to prepare a Form 1065. If you have an S Corp, you will use Turbo Tax Business to prepare a Form 1120-S.
Turbo Tax Business is a separate program from any of the individual Turbo Tax packages. Also see the link below for information on how to purchase and install Turbo Tax Business.
https://turbotax.intuit.com/small-business-taxes/?srqs=null&cid=ppc_gg_b_stan_all_na_Brand-Business_ty16-bu2-sb4&srid=CLmv_Izhg9ICFa4Efwoddv0Oog&targetid=kwd-12035850&skw=turbo%20tax%20business&adid=171803645273&ven=gg&gclid=CLmv_Izhg9ICFa4Efwoddv0Oog&gclsrc=ds
If you are a single member LLC or a sole proprietor, you will include your business information in your personal tax return. You will file a form 1040 and your business information will be reported on Schedule C. When using Turbo Tax, use either Turbo Tax Self Employed (online) or Turbo Tax Home and Business (desktop software).
You will enter your business information under the Business tab of the program. There is a section to enter the general information about the business and then there sections for both income and expense. The program will generate a Schedule C which is included in your individual tax return.
If you have a multi- member LLC or a partnership, you will use Turbo Tax Business to prepare a Form 1065. If you have an S Corp, you will use Turbo Tax Business to prepare a Form 1120-S.
Turbo Tax Business is a separate program from any of the individual Turbo Tax packages. Also see the link below for information on how to purchase and install Turbo Tax Business.
https://turbotax.intuit.com/small-business-taxes/?srqs=null&cid=ppc_gg_b_stan_all_na_Brand-Business_ty16-bu2-sb4&srid=CLmv_Izhg9ICFa4Efwoddv0Oog&targetid=kwd-12035850&skw=turbo%20tax%20business&adid=171803645273&ven=gg&gclid=CLmv_Izhg9ICFa4Efwoddv0Oog&gclsrc=ds