My business has 2 activities - in About your business" section, I can add only 1 activity type for my business?

[timothynicholsr]

In the Section About Your Business - it asks for an activity code, or a short description of what type of business. I have 2 activities. In years past my tax accountant added two separate Schedule C-like sections inside the return using Schedule K-1 “line of business codes” (NAICS codes).

[Bsch4477]

If you have 2 unrelated businesses create 2 Schedule C’s. 

[timothynicholsr]

I don't see that option it just asks me to pick 1 activity code - then goes right into asking me about income.  Where can you add another schedule C? 

[Bsch4477]

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-schedule-...

You must have the TurboTax Self-Employed or Home & Business version to file Schedule C forms. 

[VolvoGirl]

What version do you have? 

ONLINE VERSION
Not sure how to add another business schedule C in the Online version but try this…
Click on Federal
Then scroll down to Self Employment and click on Revisit
Then, you should see a link on the screen (under the first business) that says Add Another Business.

DESKTOP HOME & BUSINESS
You can just type Schedule C into the search bar at the top of your return and it should give you a JUMP TO link to go directly to it.

To add another business or Schedule C in the Home & Business program….
Go to Business tab-Continue
Then click on I'll choose what I work on
If it shows you Income Reported on Your Return (like Interest & Dividends) - click Continue
Then at very top, Business Income and Expenses-Profit or Loss from Business, click Start or Update.

You should see the Business Summary page that lists your businesses, right below the list you can Add Another Business.

Be sure to add it under the right spouse if you are married.

[AmeliesUncle]

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@timothynicholsr wrote:
Schedule C-like sections inside the return using Schedule K-1 “line of business codes” (NAICS codes).

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Schedule C-"like"?  Using Schedule K-1?

Are you preparing a business return, such as a Partnership or an S-corporation?  Or are you preparing your personal tax return (Form 1040, including actual Schedule Cs, etc.)?

[timothynicholsr]

yes - this is a business ( LLC/Partnership ) for a small company that has 2 separate "activities" I was told that therefore I must have two separate Schedule C for each of the 2 separate "activities".  its not a personal return, its for a business - ultimately the business revenue flows to our personal taxes via the K1s

[AmeliesUncle]

No, it all goes on one return.  No Schedule Cs or Schedule C-like forms.

If one of the activities is a rental real estate, that may go on Form 8825, and your non-rental activity would go on page one of Form 1065.

In SOME cases where it is necessary to separate activities for certain tax purposes, a statement may be attached to a K-1.  But that is very rare (other than if one is a rental real estate activity); offhand, I can't think of why that would need to be done.

As far as the activity code, pick the one that is the 'main' business (or had the most income).  It doesn't really matter.

[VolvoGirl]

So just checking.....you are using Turbo Tax Business (and not Home&Business)  installed on a Windows computer to prepare the 1065 return?    You should have mentioned it is for a Partnership return in your original question.  

[timothynicholsr]

First - let me say that I appreciate the answers.  Yes - its an LLC ( a partnership ).  I'm using turbo tax for business online - but I'm open to switching to the version you download.  The two businesses are very different - one is computer software consulting the other is trucking ( don't ask how we got here 🙂 ) - but they are absolutely running under the same 1 LLC.  We've filed taxes for this business with both activities for 3 years - but I have to change tax accountants and decided to try the turbotax ( online or otherwise ) for business this year. 

[timothynicholsr]

>No, it all goes on one return.  No Schedule Cs or Schedule C-like forms.

so then I merge the income from each activity and treat it as one? Same with the expenses.  Yes? 

[VolvoGirl]

If you are using the Online Business you can ask a expert to help you.   Do you realize the Online Business is $739 for Live Assisted Business and $1,749 for Live Full Service Business?  

Live Assisted Business
https://turbotax.intuit.com/personal-taxes/online/live/business-taxes

Live Full Service Business
https://turbotax.intuit.com/personal-taxes/online/live/full-service/business-taxes

The Windows Desktop installed DIY Business program is $190
https://turbotax.intuit.com/small-business-taxes/cd-download

[AmeliesUncle]

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@timothynicholsr wrote:

>No, it all goes on one return.  No Schedule Cs or Schedule C-like forms.

so then I merge the income from each activity and treat it as one? Same with the expenses.  Yes? 

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Yes.

It is possible that your prior tax preparer had a high-end program that he could enter them separately as worksheets, but they were only worksheets.  The actual tax return just combines them all into one.

@VolvoGirl   Is the "business" version for partnerships and corporations available online now?  It used to only be available on CD/download.

[VolvoGirl]

@AmeliesUncle   Yes they have 2 Online versions,  Live Assisted Business and Live Full Service Business.  See my links above.  It probably isn't the same as the Desktop Buisness.

[AmeliesUncle]

Ah, so it is only with the help of a professional.  Not a purely DIY product like the downloaded version.

Thank you.