LLC

[BB201]

I am about to purchase TurboTax Business and it is asking to log in to finalize purchase. I want to create a new account for business to separate business from personal. But i am wondering if this new account will affect my personal intuit account.  Is it safe to create a separate intuit account different from the personal one?  or just use the personal intuit account for the purchase?

[JamesG1]

TurboTax recommends that you use the same account each year and only create another TurboTax account if you are doing someone else's tax return.

However, if you may choose to create other accounts linked to the same email. 

[BB201]

Thanks you1 But to confirm, I used online version for my personal tax last year. But this year 2019, I have LLC with a partner. So it is ok to use my personal Intuit account on the Windows Turbotax Business?

[Irene2805]

Yes, it's OK to use your personal Intuit account to purchase Windows Turbotax Business.  You may want to designate a separate credit card for business purchases to make bookkeeping easier.

[Rick19744]

Keep in mind that TT Business is not available as an online product.  You either choose a CD or download the software onto your computer. Just wanted to clarify that so there are no surprises.

[BB201]

Thanks so much! This is really helpful

[BB201]

Thanks so much! Good to know. So with that said, i have 2 question:

1) How would i transfer Schedule K to the personal Tax?

2) which packages should be used? Deluxe or Premier package?

Thanks!

[DavidD66]

You enter your Schedule K-1 into your personal tax return.  There is an input section for that.  You will need TurboTax Premier to handle a K-1. 

[kerryvan]

Be aware the TT Business is not online and the support for the product is very poor compared to TT for personal tax returns.  The documentation is weak and customer support people don't know much about the product or what it does.

[Raymccready]

My son purchased TT 2019 Deluxe (while doing his taxes upgraded to Premier) all on my PC, but I need to use the "Home & Business" version as I include my real estate business. Can I upgrade it online, or do I need to go purchase the Home & Business DVD? Thanks. Ray 

[VolvoGirl]

He purchased the Desktop Deluxe?  Actually he did not need to upgrade to Premier and you don't need to add Home & Business.  All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. But if his was from the Desktop CD/Download program you should be able to upgrade again to Home & Business and just pay the difference.

[Raymccready]

Ok, thanks for that info. Ray