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New Member
posted Feb 24, 2022 3:45:00 PM

I have an LLC business, what turbo tax do I use to file my personal taxas

0 2 3706
2 Replies
Level 2
Feb 24, 2022 4:12:57 PM

S Corporations are on the Business Tax Year 2021 available on CD or Download.

Expert Alumni
Feb 24, 2022 4:26:57 PM

It depends.

 

If it is a single-member LLC, you can report the income and expenses on Schedule C of Form 1040. The correct version of TurboTax is Self-Employed. 

 

If it is a multiple-member LLC, you need to file a Partnership return using Form 1065 (you have to use TurboTax Busines for that). Schule K-1 from the partnership return will be reported on your personal income tax return.

 

Or you may elect to treat the LLC as a C corporation or an S corporation.