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I own an amazon seller business as a general partnership and I work as a CPA marketer. I'm confused what tax forms to file. Please help

 
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2 Replies

I own an amazon seller business as a general partnership and I work as a CPA marketer. I'm confused what tax forms to file. Please help

If this is the first business tax return you have done I HIGHLY suggest you use a paid professional for the first return so you get off on the right foot ... doing it incorrectly can cost thousands in penalties & fees. 

You 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 Home & Business (or Personal & Small Business).  Home & Business is for personal returns that include a schedule C for self employment or sole proprietor. A single owner LLC would be reported on Schedule C unless the LLC elected to be treated as an S corp or C corp.

 

You will get a schedule K-1 (or a W2) from the business return to manually enter into your personal 1040 return.

 

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 


Carl
Level 15

I own an amazon seller business as a general partnership and I work as a CPA marketer. I'm confused what tax forms to file. Please help

Are you the managing partner responsible for filing the taxes of the Partership? If you are, then you will need TurboTax Business (completely different from Home & Business) to complete and file the 1065 Partnership return. Remember, that parntership return is due March 15th, and the late filing penalty is $200 per member, per month.

" and I work as a CPA marketer."

A W-2 job I presume? So you'll need at least Deluxe so you can report the 1065 K-1 along with your W-2 income, on your personal 1040 tax return.

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