My wife and I own an LLC in NJ, first time filing the business return. I know we need to file a separate return, how do we show this on the personal return?

[sextonke]

LLC first time filing in NJ, how do I show on personal return knowing I have to file separately since it is husband/wife filing.

[Vanessa A]

If you own an LLC partnership, you will need to file a form 1065, this can be done using TurboTax BUSINESS.  When you file the 1065, you will enter partner info and generate a K-1 which will report each of your shares of income and losses.  

You will then take the K-1 and enter it into your personal program.  You will need to use TurboTax Premium or Premier to enter the K-1.  You can file the return jointly, you will just enter each of your K-1's separately. 

[Rick19744]

In addition, unless you filed an extension for the LLC return, the LLC tax return is late.

There is a monthly late filing fee, so I would recommend you estimate your LLC bottom line, include this estimate in your personal tax return and extend your personal return so you can focus on preparing the LLC tax return first.