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Nilde V Passanesi
Level 1

I have a multi member LLC and I believe I need to use Turbotax Business to file F1065 and generate the K1s. Would I have to buy another Turbotax to file my personal 1040, or this version would allow me to do both?

 
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ColeenD3
Employee Tax Expert

I have a multi member LLC and I believe I need to use Turbotax Business to file F1065 and generate the K1s. Would I have to buy another Turbotax to file my personal 1040, or this version would allow me to do both?

Yes, you are correct in that you need the Business program to file your F1065. You would need to buy another version to do your personal return. 

 

To enter a Schedule K-1 using the online editions you will need to upgrade to either the Premier or Self-Employed editions.

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2 Replies
ColeenD3
Employee Tax Expert

I have a multi member LLC and I believe I need to use Turbotax Business to file F1065 and generate the K1s. Would I have to buy another Turbotax to file my personal 1040, or this version would allow me to do both?

Yes, you are correct in that you need the Business program to file your F1065. You would need to buy another version to do your personal return. 

 

To enter a Schedule K-1 using the online editions you will need to upgrade to either the Premier or Self-Employed editions.

**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

Nilde V Passanesi
Level 1

I have a multi member LLC and I believe I need to use Turbotax Business to file F1065 and generate the K1s. Would I have to buy another Turbotax to file my personal 1040, or this version would allow me to do both?

Ok, thanks!

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