"I want a copy of 2016 TurboTax for Personnel and S-corp. The S-Corp I have a tax consultant complete and I take Schedule K line 18 to apply to my personnel return"?

[jerryburns]

 I want a copy of 2016 TurboTax for Personnel and S-corp. The S-Corp I have a tax consultant complete and I take Schedule K line 18 to apply to my personnel return?

[Rainman12]

Most likely, any tax pro you deal with will have software to complete the 1120S and provide you a K-1. Since you don't intend to complete the S-corp return yourself (wise decision!), no need to buy Business software for your tax consultant ...

[jerryburns]

I have Turbotax Home and Business, Federal Returns, Federal E-File, State Returns, Personal & Self-Employed. Can I file my personal return with this software? I will take 1120s from tax consultant.to file with my personal return.

[Critter]

Next year save yourself a few bucks ... you didn't need the H&B version ... you could have just used the cheaper Deluxe version (or Basic if you don't need a state return ).

[dmertz · Accepted solution]

Your S corporation's Form 1120S is the corporation's business tax return which must be file separately from your personal tax return.

You do not transfer line 18 of Schedule K (Form 1120S) to your personal tax return.  To pass various types of income and deductions to your personal tax return, the S corporation instead provides you with a copy of the Schedule K-1 from the S corporation's tax return.  You include only the information from the Schedule K-1 on your personal tax return.  Information from a Schedule K-1 can be entered in online TurboTax Premier or TurboTax Self-Employed, or any version of the CD/Download version of TurboTax.

[DoninGA]

The TurboTax Home and Business desktop edition is for completing personal tax returns.

To enter a Schedule K-1

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Scroll down to Business Items (Business Investment and Estate/Trust Income using Home and Business)
• On Schedule K-1, click on the start or update button

Or enter k-1 in the Search/Find box located in the upper right of the program screen.  Click on Jump to k-1