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New Member
posted Nov 29, 2023 2:55:48 PM

I own multiple businesses and not sure how to file

I have two LLCs and a w2, what product do I need and will Turbo tax file for my businesses as well during the process?

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3 Replies
Level 15
Nov 29, 2023 3:03:58 PM

Depends what kind of LLC you have.  Are they Single Member LLC?   You will need the Online Premium version or any Desktop program for your personal return.  You may also need the separate Desktop Business program which is only available for Windows to do the LLC returns.  

The small business program (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.

 

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

Level 15
Nov 29, 2023 3:07:44 PM

If your businesses are single member LLC's that have not incorporated to a S Corp, C Corp or Partnership then you can use the TurboTax online Premium edition to report your self-employment income and expenses.

https://turbotax.intuit.com/personal-taxes/online/file-your-own-taxes/

 

Or you can use any of the TurboTax desktop editions, but the Home & Business edition is recommended - https://turbotax.intuit.com/personal-taxes/cd-download/

 

If you have incorporated any of your business then you will need to use the TurboTax Business Edition.  The Business edition can only be installed on a Windows based computer, not online or on a Mac.

The Business Edition is not yet available for tax year 2023.

Level 15
Nov 29, 2023 10:36:48 PM

@pie98033 be aware that for 2023 windows desktop apps you need windows 10 or later and the 64-bit operating system.