turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have two jobs - 1) Nurse at hospital with a W2 form. 2) I started a business (LLC) with a partner. How do I submit my taxes and deductions for both of these?

Last year I filed taxes with TurboTax based only on my hospital job with my W2 form. I had no deductions. This year I will need to do the same, however now I also am a co-owner of an LLC business, which will have many deductions (and low income, as it is our first year). I am trying to figure out if I need to use two different programs and forms, or if I can do this all in one place and with one program.

I am also wondering about how to best submit my deductions for my LLC. My partner and I co-own the LLC 50/50. All of our business expenses are shared 50/50 as are al of our profits. Should we each report 100% of deductions and 100% of income? (Ie. should we file essentially the same thing? Or should we only be filing for our half of the deductions and our half of the income?)

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I have two jobs - 1) Nurse at hospital with a W2 form. 2) I started a business (LLC) with a partner. How do I submit my taxes and deductions for both of these?

Actually the first year you should go to an accountant to set it up right and get you started.

I have two jobs - 1) Nurse at hospital with a W2 form. 2) I started a business (LLC) with a partner. How do I submit my taxes and deductions for both of these?

You need to file a separate Business return for the LLC.  Then you will each get a K-1 to enter into your personal return.  Who is preparing the LLC return?

You will need Turbo Tax Business.
TT Business is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns and will not do your personal 1040 return.   It  is a separate program from the Desktop Home & Business program or the Online Self Employed version.

But Turbo Tax Business  is not available to do online or on a Mac.  You can buy the Window's version here.  And you can have both TT Business and TT Home & Business (or any personal version) installed on  your computer at the same time.
https://turbotax.intuit.com/small-business-taxes

So you will need to use a Windows computer.  Does your partner use Windows?

Then for you personal return any personal Desktop program will handle the K-1 you get.
If you use the Online version you need Premier to enter a K-1.
Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies