I have 2 businesses, can I file them both with my personal tax return?

cindyutt · ‎February 13, 2022

One business is a corporation the other is a sole proprietorship

HelenC12 · ‎February 13, 2022

No, you can't file form 1120 (C-Corp) or Form 1120-S (Sub-chapter S) or Form 1065 (Partnership) using the TurboTax personal version (Self-employed or Home and Business). You'll need to first file your corporations tax return using TurboTax Business.

TurboTax business will issue you a K-1 which is then reported on your personal income tax return.

For your sole proprietor business, yes, you may use online TurboTax Self-Employed or the CD\Download version of Deluxe and higher versions.

If you're a single member LLC (SMLLC), you'll also be able to use the above TurboTax versions.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

HelenC12 · ‎February 13, 2022

No, you can't file form 1120 (C-Corp) or Form 1120-S (Sub-chapter S) or Form 1065 (Partnership) using the TurboTax personal version (Self-employed or Home and Business). You'll need to first file your corporations tax return using TurboTax Business.

TurboTax business will issue you a K-1 which is then reported on your personal income tax return.

For your sole proprietor business, yes, you may use online TurboTax Self-Employed or the CD\Download version of Deluxe and higher versions.

If you're a single member LLC (SMLLC), you'll also be able to use the above TurboTax versions.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

I have 2 businesses, can I file them both with my personal tax return?