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?

[heather-lapides]

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?)

[VolvoGirl]

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

[VolvoGirl]

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.