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dgenestallings
New Member

I need to file a return for a LLC. Do I need to upgrade to do it?

I need to file a tax return for a LLC.  Can I do it with the Deluxe version that I have or do I need to upgrade?

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Accepted Solutions
DoninGA
Level 15

I need to file a return for a LLC. Do I need to upgrade to do it?

If you are a single member LLC that has not incorporated then you can use the TurboTax Deluxe desktop edition to enter your income and expenses for the LLC on Form 1040 Schedule C.  A Schedule C is part of your personal tax return Form 1040 and is included with your personal tax return when filed.

Using the Deluxe desktop edition you will receive a message that you should upgrade to the Home and Business edition to enter your business income and expenses.  This message is a Recommendation only, it is Not Required that you upgrade.  The upgrade to Home and Business would give more guidance then the Deluxe edition but both editions have all the same forms, schedules and worksheets, so either can be used.

However, if you are a multi-member LLC then you will have to use the TurboTax Business Edition to complete the business tax return (not to be confused with the personal Home and Business edition).  The Business Edition can only be installed on a Windows based personal computer, not on a Mac or online.  The Business Edition cannot complete a personal tax return, Form 1040.  Go to this TurboTax website for the Business Edition - https://turbotax.intuit.com/small-business-taxes/

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1 Reply
DoninGA
Level 15

I need to file a return for a LLC. Do I need to upgrade to do it?

If you are a single member LLC that has not incorporated then you can use the TurboTax Deluxe desktop edition to enter your income and expenses for the LLC on Form 1040 Schedule C.  A Schedule C is part of your personal tax return Form 1040 and is included with your personal tax return when filed.

Using the Deluxe desktop edition you will receive a message that you should upgrade to the Home and Business edition to enter your business income and expenses.  This message is a Recommendation only, it is Not Required that you upgrade.  The upgrade to Home and Business would give more guidance then the Deluxe edition but both editions have all the same forms, schedules and worksheets, so either can be used.

However, if you are a multi-member LLC then you will have to use the TurboTax Business Edition to complete the business tax return (not to be confused with the personal Home and Business edition).  The Business Edition can only be installed on a Windows based personal computer, not on a Mac or online.  The Business Edition cannot complete a personal tax return, Form 1040.  Go to this TurboTax website for the Business Edition - https://turbotax.intuit.com/small-business-taxes/

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