Solved: I have a home based business and need to know if turbo tax can do my taxes? Do I need the business turbo tax even though I am not a corporation?
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I have a home based business and need to know if turbo tax can do my taxes? Do I need the business turbo tax even though I am not a corporation?

 
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I have a home based business and need to know if turbo tax can do my taxes? Do I need the business turbo tax even though I am not a corporation?

To file a return for a corporation (Form 1120), S corporation (Form 1120-S), partnership/multi-member LLC (Form 1065), or homeowner association (1120-H), you'll need TurboTax Business to file for your business taxes. You'll then need to submit a 1040, 1040EZ, or 1040A for your personal taxes. 

However, if you're in business for yourself and haven't incorporated or created an LLC, use TurboTax Self-Employed instead. This program will prepare the Schedule C for your business as well as the right 1040 form for you.

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New Member

I have a home based business and need to know if turbo tax can do my taxes? Do I need the business turbo tax even though I am not a corporation?

To file a return for a corporation (Form 1120), S corporation (Form 1120-S), partnership/multi-member LLC (Form 1065), or homeowner association (1120-H), you'll need TurboTax Business to file for your business taxes. You'll then need to submit a 1040, 1040EZ, or 1040A for your personal taxes. 

However, if you're in business for yourself and haven't incorporated or created an LLC, use TurboTax Self-Employed instead. This program will prepare the Schedule C for your business as well as the right 1040 form for you.

View solution in original post

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