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rbiccw
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Went from single owner LLC to 2 owner LLC. I previously filed using home & business edition. What edition should I switch to?

 
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Went from single owner LLC to 2 owner LLC. I previously filed using home & business edition. What edition should I switch to?

You should be filing a Partnership tax return, Form 1065, since you are now a multi-member LLC.

To complete and file a Form 1065 you would need to use the TurboTax Business Edition.  The Business Edition can only be installed on a Windows based computer, not on a Mac or online.  The Business Edition cannot complete a personal tax return, Form 1040.

Go to this website for the TurboTax Business Edition - https://turbotax.intuit.com/small-business-taxes/

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Went from single owner LLC to 2 owner LLC. I previously filed using home & business edition. What edition should I switch to?

Just to give you a 'heads up':  The extended Partnership return was due yesterday.  If you filed a Partnership extension (which is a separate extension from your personal tax return), the late-filing penalty is now $390.  If you did not file a Partnership extension, the late-filing penalty is now up to $2730.

Went from single owner LLC to 2 owner LLC. I previously filed using home & business edition. What edition should I switch to?

You should be filing a Partnership tax return, Form 1065, since you are now a multi-member LLC.

To complete and file a Form 1065 you would need to use the TurboTax Business Edition.  The Business Edition can only be installed on a Windows based computer, not on a Mac or online.  The Business Edition cannot complete a personal tax return, Form 1040.

Go to this website for the TurboTax Business Edition - https://turbotax.intuit.com/small-business-taxes/

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