I need to file 2 S-Corp LLC with K-1's and also a personal return. That's 3 returns. Do I need 3 separate Turbo Tax accounts?
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New Member

I need to file 2 S-Corp LLC with K-1's and also a personal return. That's 3 returns. Do I need 3 separate Turbo Tax accounts?

 
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Level 15

I need to file 2 S-Corp LLC with K-1's and also a personal return. That's 3 returns. Do I need 3 separate Turbo Tax accounts?

Do you have 2 K-1's from s-corps to report on your personal return?  If so it is all entered on the single personal return that you will file.


Or do you have 2 S-corp returns that need to be filed that will produce the K-1s ?   If so you will need to use the TT BUSINESS program for the corp returns  and then a separate  personal program for the form 1040.


To prepare a corporate, trust or partnership return you would need Turbotax Business.  This is a separate program from Turbotax Home and Business.  TT Business is a program only available for desktop windows use (there is no on-line or Mac version.)

<a rel="nofollow" target="_blank" href="http://turbotax.intuit.com/small-business-taxes/">http://turbotax.intuit.com/small-business-taxes/</...>
<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/small-business-taxes/forms-business.jsp">https://turbotax.intuit.com/sma...>
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1917225-is-turbotax-business-right-for-me">https://ttlc.intuit.com...>
 
To prepare a personal return, depending on the complexity, you will need a version that prepares Forms 1040 such as Deluxe, Premier, Home and Business, etc.   If you have a Schedule K-1 from either a Form 1120-S, Form 1065 or Form 1041 you will need either the Premier version or (if you also have an unincorporated business) the Home and Business version when using the online program.  

All the 2016 downloaded programs will handle the personal return.

View this product guide chart to see which product is best for you:
<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/lp/ty14/desktop/lp1.jsp#irs-forms">https://turbotax.intuit.com/lp/ty14/d...>
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Level 15

I need to file 2 S-Corp LLC with K-1's and also a personal return. That's 3 returns. Do I need 3 separate Turbo Tax accounts?

FYI ... unless the corporate returns are on extension they are now very late and the penalties & interest are adding up daily ... file them ASAP.
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Level 15

I need to file 2 S-Corp LLC with K-1's and also a personal return. That's 3 returns. Do I need 3 separate Turbo Tax accounts?

Just to clarify. "All the 2016 downloaded programs will handle the personal return."  Understand that TurboTax Business (different from Home & Business) will not do a personal return of any type. TurboTax Business can only be used for completing a tax return for a non-living, non-breathing taxable entity such as a S-Corp, C-Corp, Partnership, Estate, or Trust.
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